Executive branch program said to exceed congressional delegation of legislative power. The Fifth Circuit U.S. Court of Appeals has upheld a U.S. District Court ruling that blocked President Biden’s…
Read MoreStudent Loans
Federal Student Loan Repayment Pause Extended
Education secretary announces extension to provide relief from uncertainty as loan forgiveness is litigated. On Tuesday, the president’s administration extended the federal student loan repayment pause through June…
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Student Loan Forgiveness Ruled Unconstitutional
A federal judge determines the president’s plan violates the Constitution’s separation of powers. President Biden’s administration was sued by two Americans, with the support of a small business…
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National Debt Tops $31 Trillion for First Time
Government spending is identified as the cause. The Treasury Department reported America’s gross national debt has eclipsed $31 trillion for the first time, a financial milestone arriving just…
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Senator Introduces “Make the Universities Pay Act”
Proposes 50% of student loan defaults to fall on college. Senator Josh Hawley proposed new legislation on Wednesday called “Make the Universities Pay Act” that intends to hold…
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President Announces Major Student Loan Forgiveness
Benefits accrue to tens of millions of Americans. President Biden is taking action Wednesday to forgive $10,000 or more in federal student loan debt, a move that would…
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Education Secretary Cancels Federal Loans for ITT Tech
He states the defunct for-profit college misled students since 2005. The Education Department announced last week that all federal student loans used to attend ITT Technical Institute anytime…
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White House Seeks Ideas on Student Loan Relief
The pandemic payment and interest pause faces an August 31 deadline. The White House held a virtual meeting Thursday with student debt activists and advocacy groups, the latest…
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Household Debt Tops $16 Trillion for First Time
Credit card balances grow to their highest level in 20 years. The New York Federal Reserve reported that household debt climbed past $16 trillion in the second quarter…
Read MoreEducation Department Underestimated Cost of Student Loan Program
The problem was reportedly due to flawed assumptions. A Government Accountability Office report shows the Department of Education underestimated the cost of the federal student loan program by…
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