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Top News In அலுவலகம் ஆஃப் கூட்டாட்சியின் மாணவர் உதவி Today - Breaking & Trending Today

Progressive Richard Cordray Appointed Student Loan Chief

Image from: CFPB video screenshot, 2016
Advocacy groups and progressives in Congress on Tuesday applauded the Biden administration s appointment of Richard Cordray to oversee federal student loans and financial aid, expressing hope that the former head of the Consumer Financial Protection Bureau will encourage the White House to offer much-needed relief to the country s 45 million student borrowers.
Education Secretary Miguel Cardona announced Monday that Cordray will serve as chief operating officer of Federal Student Aid, overseeing student loan servicing companies and the regulation of universities that receive federal student aid.
Sen. Elizabeth Warren (D-Mass.), an ally of Cordray who formed the Consumer Financial Protection Bureau (CFPB), was among those who applauded the appointment. ....

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Top Stories This AM: Gates Divorce, Australia Threatens to Jail Anyone Coming in From India, Condom Sales Rise

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Bill and Melinda Gates are ending their marriage after 27 years. Details about the divorce are still emerging, but the resulting settlement could be one of the largest ever. The couple announced the news in a Notes App-style message on Twitter.
Biden tapped a Warren ally to head up the Office of Federal Student Aid, which could signal student loan debt relief is on the horizon. Richard Cordray, the former director of the Consumer Financial Protection Bureau, has pushed for loan reform and greater oversight of student loan lenders in the past. ....

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Biden administration taps Warren ally to lead Office of Federal Student Aid, a promising sign for efforts to wipe out student debt

Sen. Warren, who pushed for his appointment, said he would "apply his fearlessness and expertise to protecting student loan borrowers." ....

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$10,000 student loan forgiveness: Can Biden eliminate the debt?

$10,000 or $50,000 student loan forgiveness: Could Biden eliminate debt through executive order?
CNET
5/8/2021
Oscar Gonzalez
© Provided by CNET
The gift of student loan debt forgiveness could be on its way. Sarah Tew/CNET
Since taking office, President Joe Biden has expressed support for canceling up to $10,000 per student in loan debt. Some Democratic leaders are looking to go higher, to $50,000. And a new Change.org petition is calling for Biden to go even further and cancel all federal student debt in 2021 through an executive order. The survey has more than 1 million signatures.
In March, Biden did forgive $1 billion in loans for students defrauded by for-profit institutions, but he has yet to present a plan for reducing the roughly $1.7 trillion in student debt across the board. Biden in April asked Education Secretary Miguel Cardona if he has the legal authority to cancel student debt. Under the American Rescue Plan Ac ....

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Student loan forgiveness: Where Joe Biden's debt plan stands today

Student loan forgiveness: Where Joe Biden s debt plan stands today
CNET
1 hr ago
Oscar Gonzalez
© Provided by CNET
The gift of student loan debt forgiveness may be on its way. Sarah Tew/CNET
Student loan debit in the US totals upward of roughly $1.7 trillion, ranking just behind home mortgages in consumer debt and ahead of credit-card debt and auto loans. We still don t know if President Joe Biden will cancel $10,000 per student in loan debt. Some Congress members want Biden to go even higher, forgiving $50,000 per student.
Provisions like a third stimulus check (and plus-up payments ), more money for unemployed workers, thousands more dollars for families with the new child tax credit and changes to health care savings were included in the American Rescue Plan. These were added to help people struggling financially due to the pandemic but one group not addressed in the relief package is indebted students. ....

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