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For borrowers who received Pell Grants and meet the income limit, the amount of debt forgiveness will double to up to $20,000. Pell Grants are a form of federal aid available to low- and moderate ...
The temporary adjustment allows eligible loan borrowers to use past periods of repayment (and even some periods of deferment and forbearance) toward their 20-year and 25-year IDR loan forgiveness ...
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 ...
In August 2022, the administration used the Act again to announce student debt cancellation of up to $20,000 and several other reforms. [7] [16] Following litigation brought by several Republican-led state governments, the Supreme Court ruled in Biden v. Nebraska (2023) that the statute did not permit the administration's debt forgiveness ...
NCO has been accused by many consumers of habitually violating the Fair Debt Collection Practices Act, refusing to verify and validate the debt, contacting third parties about the debt, claiming that they were calling from a law firm, attempting to collect debts that were past the statute of limitations, and harassing and threatening people on ...
The debt relief was under multiple programs: public service loan forgiveness (PSLF) program, income-driven repayment (IDR) account adjustment, disability discharges, and borrower’s defense ...
[2] [13] In 2021, the Consumer Financial Protection Bureau was investigating, alleging that ECMC deliberately made student debtors incur additional fees when their accounts went into debt collection. [14] In 2012, a panel of bankruptcy appeal judges criticized the company for its "waste of judicial resources," and abuse of the bankruptcy ...
“Forgiveness of student loan debt is generally taxable unless it meets one of the exclusions in California Revenue and Taxation Code sections, which includes an exclusion for income-based ...