By Karen Stokes The Department of Education released its proposed rule updating its Income Driven Repayment program to make student loan payments more manageable for borrowers moving forward. “We’re doing this because we have to get a handle on the issue that we’ve seen for decades, college costs going up, financial aid going down and […]
Biden Administration Combats Against Debt Relief Scams
By Karen Stokes Last month, President Biden announced a plan to wipe out significant amounts of student loan debt for 40 million Americans now federal officials are warning about scams. The administration’s forgiveness program will cancel up to $20,000 in student loan debt for borrowers making less than $125,000 or $250,000 for households. The plan […]
Biden Student Loan Relief Plan Benefits Borrowers in all Fifty States, Washington, D.C., and Puerto Rico
The Biden administration forecasts that over 40 million borrowers are eligible for its student loan relief plan all across the country. “President Biden believes that education is supposed to help people climb the economic ladder but more than often debt becomes the anchor that weighs them down. That’s why he proposed this plan,” said James […]
FACT SHEET: The Biden-Harris Administration’s Plan for Student Debt Relief Could Benefit Tens of Millions of Borrowers in All Fifty States
On Tuesday, the White House released state-by-state data on how the Biden-Harris Administration’s plan for student debt relief will benefit borrowers in all fifty states, Washington, D.C., and Puerto Rico. Last month, President Biden announced his Administration’s plan to give working and middle-class Americans more breathing room by providing up to $20,000 in debt relief […]
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Student Loan Debt Relief is a Game Changer
Legislatively Speaking By Senator Lena C. Taylor Ramen noodles, work study, food stamps, and the kindness of friends is what got a lot of students through college. If you were a first generation student, things were even tougher. No one told you that financial aid checks didn’t arrive until later in the semester, but you […]
EXCEPT WHERE INDICATED, THE OPINIONS EXPRESSED ON THIS PAGE ARE NOT NECESSARILY THOSE OF THE MADISON TIMES
Get it, While the Getting Is Good: Student Loan Forgiveness
By LaKeshia N. Myers Student loan debt continues to be a hot topic among many Americans, especially millennials who on average, carry $32,000 in debt. Those who default on their student loans can be exempt from certain types of employment, which can perpetuate the cycle of poverty from one generation to the next. Since the […]
EXCEPT WHERE INDICATED, THE OPINIONS EXPRESSED ON THIS PAGE ARE NOT NECESSARILY THOSE OF THE MADISON TIMES
New News Regarding Student Loan Debt
By LaKeshia N. Myers I am one of 3.2 million Americans who has student loan debt in excess of $100,000. While the Biden Administration has worked tirelessly strengthening loan forgiveness programs and cutting the red tape that exists for borrowers to prove eligibility, I have continued to pay close attention and listen intently whenever I […]
Biden-Harris Administration Extends Student Loan Pause Through May 1, 2022
On Dec. 22, 2021, the U.S. Department of Education announced a 90-day extension of the pause on student loan repayment, interest and collections through May 1, 2022. The extension will allow the administration to assess the impacts of the omicron variant on student borrowers and provide additional time for borrowers to plan for the resumption […]
Student Loan Refinancing Study Task Force Hosted their Second Roundtable Discussion
By Nyesha Stone The Student Loan Refinancing Task Force is making stops around the state to listen to Wisconsinite’s stories on dealing with student debt. The idea originated from a recommendation made by Gov. Tony Evers. The task force includes the Wisconsin Department of Financial Institutions Secretary-Designee Kathy Blumenfeld, Wisconsin State Treasurer Sarah Godlewski, and […]
Milwaukee Ranks #13 as List on Cities with More Student Loans Than Mortgages
By Nyesha Stone It’s no surprise that Milwaukee is on yet another list that we don’t want to be on. A study commissioned by MagnifyMoney, found that 7.06 percent of Milwaukee residents owe more on their student loans than their mortgages, which places them a 13 on the list of cities with more student loans […]