Eligible Borrowers News Today

More than $80 million in federal student loan debt will be discharged for over 3,500 former Massachusetts borrowers who attended “predatory” art colleges, including the New England Institute of Art.

The Biden administration said Friday that is using existing student loan forgiveness programs to cancel another round of student debt, totaling $7.4 billion for 277,000 borrowers.

More than 150,000 borrowers enrolled in SAVE received a discharge this week. Most of them live in Texas, Florida, or California.

Arkansas student loan borrowers are among those impacted by a Biden administration plan providing $1.2 billion in student loan forgiveness nationwide.

The Biden administration announced Wednesday it is forgiving a total of $1.2 billion in student debt for roughly 153,000 borrowers. The relief comes through the Saving on a Valuable Education (SAVE) repayment plan, which made changes to income-driven repayment plans in the wake of a Supreme Court decision overturning President Biden’s more ambitious student loan…

In a new wave of student loan forgiveness, the Biden administration is canceling $5 billion in debt for 74,000 borrowers, many of whom worked in public sector jobs for more than a decade.

After the Supreme Court struck down the student loan cancellation plan, the Biden administration said it is ‘continuing to pursue an alternative path to deliver student debt relief to as many borrowers as possible as quickly as possible’

Forty percent of student loan borrowers missed their first student loan payments since they were paused for three years due to the COVID-19 pandemic, the Department of Education said Friday. In a blog post, U.S. Undersecretary of Education James Kvaal said 60 percent of student loan borrowers whose payments were due in October made them…

The new relief will bring the total student debt canceled to nearly $132 billion, the White House says.

The discharges include $2.6 billion for 34,400 borrowers using the public service loan forgiveness program and waiver and $2.2 billion for 46,000 borrowers under the one-time payment adjustment for income-driven repayment plans.