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The Biden administration says it'll cancel $6 billion in student loans for people who attended the Art Institutes, a system of for-profit colleges that closed the last of its campuses in 2023 amid accusations of fraud. At its height, the chain had campuses across the country, including in New York, Chicago, Miami and Los Angeles.
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We want to hear how student loans have affected your life — and what impact it would have if they were forgiven. If you are not set to benefit from these programs, we want to hear from you, too.
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In South Florida, federal and state legislators mostly condemned the high court's ruling.
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The Office of Federal Student Aid has a lot on its plate in 2023, including implementation of an ambitious new student loan repayment plan. Now it just needs money to pay for it.
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The president has extended the student loan repayment pause into 2023. Biden said he wants to give lawsuits against debt cancellation time to play out, and the Supreme Court time to weigh in.
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Borrowers who say they were misled by their colleges have waited years for the federal government to review their claims. Wednesday's decision was a big win for them, but it's already been appealed.
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The program to erase student loan debts for millions of borrowers hit a brick wall Thursday when it was blocked by a U.S. District Court judge. The administration quickly appealed the decision.
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Justice Amy Coney Barrett, who is assigned to the Seventh Circuit Court of Appeals, was the one who received the emergency application brought by a Wisconsin taxpayers group.
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"It's easy, it's fast," Biden said in a press conference announcing the launch, noting applications take less than 5 minutes and can be done on desktop or phone.
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The administration has published its student loan relief application after testing a beta version of the form over the weekend.
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The Biden administration has quietly changed its guidance to disqualify borrowers who have privately-held FFEL and Perkins loans.
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The cost of the White House's student loan forgiveness plan is an estimate over a 30-year period and will add to the country's deficit, the Congressional Budget Office said in a report.