Changes to student loan programs could bring millions closer to getting out of debt, Education Department says
CBSN
The Education Department announced fixes on Tuesday to multiple student loan programs, giving thousands of borrowers immediate relief from student loan debt and bringing millions more years closer to having their student loans forgiven. It comes as the Biden administration continues to examine canceling student loan debt for millions of Americans.
The changes are being made to the Public Service Loan Forgiveness programs and the Income-Driven Repayment plans. According to the Education Department, the fixes will give 40,000 borrowers immediate forgiveness and bring at least 3.6 million borrowers closer to relief by at least three years through income-driven repayments.
"Student loans were never meant to be a life sentence, but it's certainly felt that way for borrowers locked out of debt relief they're eligible for," said Education Secretary Miguel Cardona in a statement. He said the move begins to "remedy years of administrative failures" and the actions demonstrate the administration's commitment to delivering "meaningful debt relief and ensuring federal student loan programs are administered fairly and effectively."
President-elect Donald Trump has vowed to start the largest deportation effort in American history — his signature 2024 campaign promise — as soon as he takes office, signaling this week that he would enlist the help of the U.S. military for the massive operation to deport undocumented immigrants.
Washington — The House Ethics committee, meeting to consider the release of a report on its investigation into former Rep. Matt Gaetz, did not reach an agreement on Wednesday afternoon, the committee chairman said.
McDonald's customers may have to go elsewhere for now if they have a yen for frothy caffeinated drinks.
President-elect Donald Trump is expected to name Russ Vought to lead the Office of Management and budget, according to two sources close to the transition.
Washington — Former Republican Rep. Matt Gaetz is meeting with senators on Capitol Hill on Wednesday as he seeks to shore up support for his nomination for attorney general amid calls for the House Ethics Committee to release a report on allegations he engaged in sexual misconduct and illicit drug use.
Thanksgiving dinner ingredients will cost more this year compared with last, even as food inflation cools. Fortunately, there's one simple way to save money without skimping on staple dishes for the food-driven holiday: store brands.
A judge has convicted the man on trial for the killing of Laken Riley, a nursing student in Georgia whose death in February shook the college town where she studied, as well as the country.
No one wants to file for bankruptcy, but if you're heading in that direction, delaying the inevitable may only make things worse.
A 92-year-old man has been charged in the U.K. with the murder and rape of a woman almost six decades ago, British police said Wednesday.
Target is heading into the holiday season with a gloomy outlook, with the retailer reporting its sales and profit fell short of analysts' expectations and lowering its earnings forecast for the current quarter. Its shares tumbled almost 20% in pre-market trading.
A major storm swept across the northwestern U.S., battering the region with strong winds and rain, causing widespread power outages and downing trees that killed at least one person.