The Biden administration has announced significant student loan forgiveness, impacting nearly 153,000 borrowers with a total of $1.2 billion in forgiveness. This move comes amidst various measures to ease the financial burden on students, including the forgiveness of some or all student-loan debt for more than 2,500 borrowers in Colorado. In Florida, 12,790 qualified borrowers will benefit from $105.4 million in student loan forgiveness. Additionally, more than 39,000 farmers have received over $2.1 billion in loan relief from the U.S. Department of Agriculture through a program funded by the Inflation Reduction Act. However, the implementation of these relief efforts, alongside the introduction of the new Free Application for Federal Student Aid (FAFSA) form, has faced criticism. Delays in the FAFSA process have caused unprecedented holdups in financial aid notifications for college students, attributed in part to glitches in the new federal form. Critics, including Republicans and several educational and financial experts, argue that these issues were exacerbated by the administration's loan forgiveness program and have called for accountability, especially targeting loan servicer MOHELA for mismanagement. The situation has sparked a broader debate on the administration's handling of student loan relief and the effectiveness of recent legislative efforts, such as the FAFSA Simplification Act, in making federal student aid more accessible.
A delay on the rollout of FAFSA applications means schools will not receive the data they need to calculate financial aid until the first half of March, forcing some colleges to push out their financial aid deadlines. https://t.co/LUwgWxmocF
🧵(1/2) Last week, in another election-year gimmick, President Biden released his newest scheme to transfer existing student loans to taxpayers – including those who worked through college, already paid off their loans or never attended.
Problems with the new FAFSA have resulted in fewer students applying for college financial aid. https://t.co/WLzGTAJZGK
In an opinion piece for the @latimes, Jennifer Morton of @PennSAS decries the delays in the Free Application for Federal Student Aid process affecting many students and families. https://t.co/ATDOhfn8wg
Issues with new FAFSA may cause 'shocking' decline in the number of students getting college aid, expert says https://t.co/sUTFRoBT76
⚠️ US FARMERS RECEIVE MORE THAN $2 BILLION IN LOAN RELIEF FROM FARM AGENCY (Reuters) The U.S. Department of Agriculture has distributed over $2.1 billion to more than 39,000 farmers in economic distress through a loan relief program funded by the Inflation Reduction Act, the…
Student loan debt is hurting Americans and taking away their financial stability. To access student debt relief today enroll in the SAVE plan. Learn more: https://t.co/7FOke4Qk4p
We’re standing with @theSBPC and @AFTunion in expressing outrage at MOHELA’s student loan mismanagement. The Biden administration took major steps to fix PSLF—so it’s disgraceful MOHELA's actions denied services to hard-working borrowers. @CFPB and state AGs must investigate. https://t.co/vXyanFy1zU
More than 2,500 borrowers in Colorado will have some or all of their student-loan debt forgiven under the Biden administration’s new relief plan, according to a news release from the U.S. Department of Education. https://t.co/eVqVCVHkOh
Our report with @TheSBPC shines a spotlight on the incompetence, malfeasance, and blatant disregard of a company that should be trying to help borrowers achieve their dreams. It’s a scandal that has hurt millions—and it’s time MOHELA is held to account. https://t.co/EQGAijW9OY
Thanks to @POTUS's SAVE Plan, 12,790 qualified Florida borrowers will see a total of $105.4 million in student loan forgiveness in the coming weeks! Find out if you’re next to receive loan forgiveness by visiting https://t.co/A5II1wege8 https://t.co/L5gCarYoHC
Last week, thousands of folks in our area found out their student loans had been wiped out as part of several measures the Biden administration has taken to ease the burden. Find out if you can benefit from this aid here. https://t.co/0EOkKbVqvP https://t.co/yFCH3842S5
In 2020, Congress signed the @FAFSA Simplification Act to make applying for federal student aid more accessible. Despite have 3 years to prepare, Joe Biden's @usedgov still botched the rollout--costing students and universities valuable time and limiting their resources to make…
High schoolers are facing unprecedented delays in finding out how much financial aid they will be provided for college, thanks to multiple glitches in a new federal form that Republicans say were exacerbated by President Biden’s loan forgiveness program. https://t.co/7AQSWYV5he https://t.co/DDo6AntJx7
The Biden administration says nearly 153,000 borrowers are receiving $1.2 billion in forgiveness. https://t.co/FwTuPogY6p