article thumbnail

Debt Ceiling Bill Includes Provision for End of Student Loan Payment Moratorium

Account Recovery

Putting perhaps the final nail in the moratorium on student loan payments is a clause in the deal worked out between President Joe Biden and House Speaker Kevin McCarthy to suspend the debt ceiling that ends the pause within 60 days after June 30 once the bill is signed into law. The measure seems more …

article thumbnail

Judge Blocks Student Loan Debt Cancellation Program

Account Recovery

A District Court judge in Texas yesterday granted summary judgment in favor of plaintiffs who sued the federal government seeking to block a program that would cancel up to $20,000 of student loan debt for individuals making less than $125,000 annually, ruling that the Biden Administration overstepped its authority when it created the program without (..)

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Student Loan Debt Repayment Company Raises $6M

Account Recovery

who also worked at the Consumer Financial Protection Bureau has raised an additional $6 million in funding to work with employers, financial institutions, and other organizations help their employees plan for college and reduce their student loan burdens. Elizabeth Warren [D-Mass.]

article thumbnail

Dept. of Education Announces Proposal to Change Repayment Plans on Student Loans

Account Recovery

The Department of Education yesterday announced a proposed rule that aims to lower the student loan payments being made by those with student loan debt, while completely pausing payments for individuals who make less than $30,600 per year. A copy of the proposed rulemaking can be accessed by clicking here. The post Dept.

article thumbnail

Legal Challenges to Student Loan Cancellation Plan Launched

Account Recovery

The legal challenges to the federal government’s plan to cancel student loan debt for individuals making less than $125,000 a year have started, with a pair of suits claiming the administration failed to take the proper steps before announcing the plan.

article thumbnail

Warren Demands DoJ Release Student Loan Bankruptcy Guidance

Account Recovery

is pushing the Department of Justice to implement new guidance related to how student loan debts are handled when individuals file for bankruptcy protection, saying the department needs “to do its part to ensure that borrowers who continue to struggle with student debt have a path toward additional relief.”

article thumbnail

Government Extends Pause on Student Loan Payments Until Legal Challenges are Resolved

Account Recovery

The Biden Administration yesterday announced it was extending the moratorium on student loan payments until 60 days after litigation surrounding the plan to forgive up to $20,000 in unpaid student loans is resolved.