Tennessee Attorney General Jonathan Skrmetti’s office is warning Tennesseans with student debt of scammers offering relief that they cannot provide in wake of the Biden Administration’s recent forgiveness of $39 billion in Federal student loans.
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Monday morning on The Tennessee Star Report, host Leahy welcomed the original all-star panelist Crom Carmichael to the studio for another edition of Crom’s Crommentary.
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A center-right policy-research center based in Columbus, OH is asking the U.S. Supreme Court to nix President Joe Biden’s plan to forgive almost $500 billion in unpaid student loans.
Nebraska and six other states sued the Biden administration to stop the program that Congress never authorized. Last November, petitioners succeeded in getting a three-judge panel of the U.S. Court of Appeals for the 8th Circuit to pause implementation of the plan. The following month, the U.S. Supreme Court agreed to hear the case and oral arguments have been scheduled for February 28.
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U.S. Senators Tammy Baldwin (D-WI), Chris Murphy (D-CT), and Tina Smith (D-MN) filed legislation this week to forgive student-loan debt for new members of the agriculture industry.
Their bill, the Student Loan Forgiveness for Farmers and Ranchers Act, would cancel significant educational debt for those qualifying as “a beginning farmer or rancher” as well as minority, women, and veteran farmers.
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Both U.S. Senate candidates from Ohio criticized President Joe Biden for forgiving $300 billion in student-loan debt, with Republican J.D. Vance issuing a particularly scathing rebuke for what he called “an elite giveaway on the backs of American workers.”
“Today, in the midst of a historic inflation crisis, Joe Biden supplied a $300 billion giveaway to college graduates – paid for by single moms in the form of higher food prices, by trade workers in the form of higher taxes, and by the next generation of students in the form of higher tuition,” the attorney, venture capitalist and author said in a statement.
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A Georgia congressmen has introduced a bill that would prohibit the President Joe Biden’s administration from cancelling student debt, a caused championed by the progressive left.
“Hardworking Americans are not responsible for paying off the student loan debt of others,” said Rep. Drew Ferguson (R-GA-03) in a press release. “The Biden Administration’s radical big government proposal would come at the expense of taxpayers – many of whom have fully paid off their student loans, worked hard to pay for their education, or chose not to enroll in college at all.”
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The Biden administration announced Wednesday it will cancel $415 million in student debt for nearly 16,000 borrowers who claim they were misled by for-profit colleges.
The loans for almost 16,000 former students will be canceled under a legal provision called the borrower defense to repayment, which allows students to have their debts erased if they prove a for-profit school defrauded them, the Department of Education (DOE) said in a press release.
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Attorney General Jason Miyares announced a new policy to cut attorneys’ fees for debt collection on student loan debt at Virginia’s public colleges. Under Virginia law, the Office of the Attorney General (OAG) is responsible to provide debt collection services on behalf of state agencies, and can retain as revenue up to 30 percent. Miyares’ internal policy limits that to 15 percent on new claims referred to the OAG, where possible.
“As someone who worked to put themself through college and still has their own student loans, I understand the strain student loans can put on working families. By working to reduce the attorney collection fee from 30 percent to 15 percent on accounts deemed delinquent by the respective universities, we are making immediate, internal procedural improvements that will help Virginians,” Miyares said in a Wednesday press release.
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It’s calculated that somewhere north of 45 million Americans have run up $1.73 trillion worth of college debt. The numbers may surprise a lot or a little, which is really not the point.
The main thing is that debt now measured in the trillions is in a sense a logical midpoint to the federal government’s unfortunate involvement in the financing of college education. “No one spends the money of others very carefully” is a truth as old as humanity (or money) is, and the trillions worth of federal student loan debt vivify this truth. We know this because the hangovers (literal and figurative) from time spent on campus continue to grow.
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The Department of Education announced Thursday that it will cancel student loan debt for over 300,000 borrowers with severe disabilities.
The program, set to erase over $5.8 billion in total debt, will begin in September and apply to over 323,000 borrowers classified as having a “total and permanent disability” by the Social Security Administration (SSA), the Education Department announced. Borrowers will now receive automatic discharges of their debt, whereas previously needed to fill out applications.
“Today’s action removes a major barrier that prevented far too many borrowers with disabilities from receiving the total and permanent disability discharges they are entitled to under the law,” Education Secretary Miguel Cardona said in the announcement.
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The Tennessee General Assembly is considering requiring more transparency when it comes to higher education. If passed, the “Students Right to Know Act” would require the Tennessee Higher Education Commission (THEC) to publish a database concerning different state universities or vocational schools’ attendance costs, monthly student loan payments, graduation or completion rates, and post-graduate salaries.
The bill was introduced by State Representative Kent Calfee (R-Kingston) and State Senator Kerry Roberts (R-Springfield). The latest amendments to the act rewrote the bill to clarify and expand its scope – as well as expand the data to be included within the database on military options for students.
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After a Tuesday evening town hall, president Joe Biden said he will not cancel up to $50,000 of student loans, prompting backlash from the progressive wing of his own party.
“I will not make that happen,” Biden said when asked what he will do to cancel up to $50,000 in student loans.
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Rep. Ilhan Omar (D-MN-05) has introduced a “bold resolution” asking President-elect Joe Biden to federally remove $50,000 of student loan debt per person.
The congress member introduced the resolution alongside Reps. Ayanna Pressley, Maxine Waters, and Alma Adams. The resolution outlines a path for Biden to use “excessive authority” to remove student loan debt while simultaneously ensuring there are no tax liabilities for federal student loan borrowers.
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A new high school graduate may take out about $37,200 in student loans for college, according to a recent NerdWallet study.
And for many of them, that won’t be enough.
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Rep. Rashida Tlaib (D-MI-13) spoke this week at an event hosted by the Young Democratic Socialists of America at Wayne State University.
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President Trump’s recent budget proposal calls for reforms to the federal student loan program, so that colleges that “accept taxpayer funds have skin in the game through a student loan risk-sharing program.” Certainly, a change in the student loan program is long overdue.
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by Preston Cooper The time-honored American tradition of outlandish political promises continues apace. Now, the spotlight is on student debt. Democratic presidential candidate Elizabeth Warren added to the debate recently when she put forward a proposal to cancel $640 billion worth of federal and private student loans. Warren touts…
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by Ryan McMaken One of the challenges in looking at income and wealth data is getting a sense of how different demographic groups are affected. It’s relatively easy to find median income and wealth data over time for the entire population, for example. But then problems of interpretation immediately…
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