Higher education groups advocate for continuation of student loan payment relief
INSIDE HIGHER ED — Several associations representing the nation’s colleges and universities on Wednesday urged congressional leaders to continue excusing student loan borrowers from having to make payments until at least after next Tax Day in April.
Read More about Higher education groups advocate for continuation of student loan payment reliefSenate education committee head proposes simplifying student federal aid applications and postponement of loan payments
INSIDE HIGHER ED — Nearing the end of his tenure in Congress, Senator Lamar Alexander, the chairman of the Senate education committee, proposed excusing those with no income from making student loan payments, as well as enacting one of his longtime goals: simplifying the forms used to apply for federal student aid.
Read More about Senate education committee head proposes simplifying student federal aid applications and postponement of loan paymentsAdvocacy groups call for increase in college student Pell Grants amid recession
INSIDE HIGHER ED — Amid concerns the recession has made it harder for students to save for college, advocacy groups are calling for doubling the size of Pell Grants.
Read More about Advocacy groups call for increase in college student Pell Grants amid recessionState Attorneys General file lawsuit over US Department of Education borrower-defense rule
INSIDE HIGHER ED — The attorneys general of nearly half of the nation’s states filed a federal lawsuit Wednesday, trying to do what Congress couldn’t — end Education Secretary Betsy DeVos’s new borrower-defense rule, which makes it more difficult for students who have been defrauded, particularly by for-profit colleges, to have their student loans canceled.
Read More about State Attorneys General file lawsuit over US Department of Education borrower-defense ruleCongress begins to plan second stimulus package
FORBES — Congressional discussions regarding a potential second stimulus package continue, and the timeline for when new or extended relief may pass is becoming clearer.
Read More about Congress begins to plan second stimulus packageOpinion: Second stimulus package should include suspension of student loan payments and forgiveness
FORBES — Congress is considering another round of stimulus and coronavirus relief this month. Negotiations are said to pick up after the holiday break. They’ll likely discuss more money for states, unemployment benefits, a possible stimulus check, student loans, and more.
Read More about Opinion: Second stimulus package should include suspension of student loan payments and forgivenessWells Fargo to limit number of student loans amid pandemic
BLOOMBERG — Wells Fargo & Co. is pulling back from student lending as the U.S. surge in coronavirus cases threatens to further disrupt higher education and the broader U.S. economy.
Read More about Wells Fargo to limit number of student loans amid pandemicStudent loan rates hit historic lows due to COVID-19
DETROIT FREE PRESS — College students who must cope with a new way of doing things in light of COVID-19 can take heart in one thing. Federal student loan rates are hitting historic lows. Beginning July 1, rates on federal student loans will tumble to reflect the Federal Reserve’s move this spring to push short-term rates close to 0%.
Read More about Student loan rates hit historic lows due to COVID-19A look at income-driven student loan repayment plans
FORBES — REPAYE is the newest of the four IDR plans. It was introduced in 2015 as part of the Obama administration’s efforts to help student loan borrowers manage their debt. The government designed REPAYE as an expansion of the Pay As You Earn (PAYE) repayment plan.
Read More about A look at income-driven student loan repayment plansFederal judge orders cancellation of federal student loan debt for 7,000 borrowers from failed for-profit college
FORBES — A federal judge has ordered Education Secretary Betsy DeVos to cancel outstanding federal student loan debt for over 7,000 student loan borrowers. The case concerns the Borrower Defense to Repayment program.
Read More about Federal judge orders cancellation of federal student loan debt for 7,000 borrowers from failed for-profit college