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WASHINGTON (AP) — A student loan cancellation program for public workers has granted relief to more than 1 million Americans — up from just 7,000 who were approved before it was updated by the ...
The administration said it will spend nearly $4.3 billion to cancel student debt for 55,000 such workers, the result of fixes made to the Public Service Loan Forgiveness Program.
The White House said Friday it approved another $4.28 billion in student debt cancellation for 54,900 additional public service workers in what could be one of the Biden Administration's final act ...
The Public Service Loan Forgiveness program was created in 2007, promising college graduates that the remainder of their federal student loans would be zeroed out after 10 years working in government or nonprofit jobs. But starting in 2017, the vast majority of applicants were rejected because of complicated and little-known eligibility rules.
Another 78,000 Americans are getting their federal student loans canceled through a program that helps teachers, nurses, firefighters and other public servants, the Biden administration announced ...
In March 2020, the CARES Act passed by Congress included a pause on federal student loans repayments and interest until September 30, 2020. [8] On August 8, 2020, the Trump administration issued a memorandum instructing the Secretary of Education to pause on student loan payments and interest through December 31, 2020 using the authority ...
The Education Department posted notices to withdraw its plans to cancel student debt for over 38 million borrowers. The withdrawal notices were for two of the department's unfinished debt-relief ...
The CARES Act created the $349-billion Paycheck Protection Program, which provided low-interest loans to small businesses that were forgivable if they maintained their employees and payroll. The $349 billion was fully allocated within 13 days. During those 13 days, 1.6 million loans were approved by nearly 5,000 banks and other lenders. [3]