Stories tagged: "student loan debt"
Prior to this move, student loan debt—unlike credit card bills, medical bills, and most other forms of debt—was not eligible to be automatically wiped away when a person filed for bankruptcy.
In the past week, two separate courts controlled by conservative judges have ruled against the Biden administration’s plan to cancel tens of thousands of dollars in federal student loan debt for millions of borrowers, putting that relief in jeopardy.
If Scheller, who is running against incumbent Susan Wild for US House, wants to claim that $10,000 in student loan relief is a bad idea and that students should pay back every cent they borrow, that is certainly her right. But doing so after taking $5 million in government loans she will never pay back isn’t likely to sit well with Pennsylvania voters.
Biden’s executive order will cancel $10,000 in debt for anyone who went to college and earns less than $125,000; $20,000 for borrowers who also received Pell Grants and meet the income threshold; and dramatically reduces monthly payments for low- and middle-income borrowers moving forward.
Voters under 45 support student debt cancelation in overwhelming numbers, and new polling from Courier Newsroom and Data for Progress shows canceling some amount of federal student loan debt could be a political winner for President Joe Biden.
Borrowers have four more months until federal student loan debt payments resume. Democratic lawmakers in Pennsylvania are among those nationally calling for the president to do more.
Gov. Wolf is pressing to get more student loan debt relief to Pennsylvania nurses. The deadline to apply for an existing $20 million program is March 1.