By Karen Stokes The U.S. Department of Education announced on Tuesday that more than 4 million student loan borrowers enrolled in the Biden-Harris Administration’s new Saving on A Valuable Education (SAVE) income-driven repayment (IDR) plan. This includes those who were transitioned from the previous Revised-Pay-As-You-Earn (REPAYE) plan. Additionally, the Department has received more than 1.6 […]
EXCEPT WHERE INDICATED, THE OPINIONS EXPRESSED ON THIS PAGE ARE NOT NECESSARILY THOSE OF THE MADISON TIMES
Student Loan Debt Solutions Still Exist
Legislatively Speaking By Senator Lena C. Taylor For those hoping to see the Biden/Harris administration’s student loan forgiveness initiatives survive legal challenges, you are likely feeling pretty anxious right now. Private for-profit colleges and trade schools, in Texas, are the latest to challenge new administration rules that would forgive the loans of those defrauded by […]
The Biden Administration is Proposing a More Manageable Student Loan Plan
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 […]
President Biden Announces Student Loan Forgiveness Plan
By Karen Stokes On Wednesday, President Biden announced a plan to wipe out significant amounts of student loan debt for tens of millions of Americans. During the campaign President Biden promised to provide targeted student debt relief to working and middle class families. After much deliberation, according to the White House, borrowers that make below […]
EXCEPT WHERE INDICATED, THE OPINIONS EXPRESSED ON THIS PAGE ARE NOT NECESSARILY THOSE OF THE MADISON TIMES
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 […]
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 […]
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 […]
Average Student Loan Debt Rises 4 Percent For Class Of 2015, New Report Says
Wisconsin’s Average Debt For 4-Year Public, Private 2015 Graduate Is $29,460 By Ross Terrell The average student loan debt for 2015 Wisconsin graduates of four-year public or nonprofit private institutions was $29,460, according to a new report from the Institute for College Access and Success. Across the United States, the average student debt for 2015 […]
Veterans and Consumers of Color often Targeted for Fraud
by Charlene Crowell NNPA News Wire Columnist Although the former Corinthian Colleges, once one of the nation’s largest for-profit colleges, closed its doors last year, many of the problems incurred by its former students persist. The now-defunct college is the only questionable actor among for-profit colleges. To date, investigations, and lawsuits have focused on a […]