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Federal student loan debt increased 267.1% between 2006 and 2023, according to the Education Data Initiative. In December, the House introduced legislation to increase the deduction limit to ...
The Biden administration has started rolling out a series of programs and initiatives to lighten the burden of student loans and make the repayment process more equitable and manageable. For those ...
The PSLF Program forgives the remaining balance on Direct Loans after borrowers have made 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying ...
Income-based repayment or income-driven repayment (IDR), is a student loan repayment program in the United States that regulates the amount that one needs to pay each month based on one's current income and family size.
A new repayment plan has become available since borrowers were last required to pay their student loan bills, which could make monthly payments lower for millions of people.
According to the Education Data Initiative, the average federal student loan debt is $37,574 per borrower as of April 2023. The average private student loan debt is less than $55,000 per borrower.
The Biden administration plans to restart student loan payments no later than 60 days after June 30, 2023, he added. Based on that schedule, you can expect to resume payments on or before Aug. 29.
The Biden administration announced on Oct. 25 executive actions that will bring most loans managed by the Education Department "closer to forgiveness," the Department of Education declared. One ...