student debt

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Couple Pays Off Student Debt for LA School's Class of 2022
Graduation Got Even Sweeter

Graduation Got Even Sweeter

Evan Spiegel and Miranda Kerr pay off student debt for LA school's Class of 2022

(Newser) - Evan Spiegel, who later co-founded Snapchat, has fond memories of taking summer classes at Otis College of Art and Design while in high school. "It changed my life and made me feel at home," Spiegel said, the Los Angeles Times reports. "I felt pushed and challenged to...

Debt Forgiveness May Turn Good Choices Into 'Sucker's Bet'

Two columnists worry about the fairness of wiping out student loans

(Newser) - Progressives are pushing President Biden to make a dramatic move to wipe out a large chunk of student debt before the midterms. Sen. Elizabeth Warren, for example, wants the president to use his executive authority to cancel $50,000 in debt per person, which she argues would eliminate the loans...

Don't Expect a Huge Number on Biden's Student Loan Salve

President still considering 'some debt reduction,' but not the $50K-per-borrower some Dems want

(Newser) - Reducing, or outright eliminating, debt for the 43 million people who've borrowed money via federal student loans has long been a top priority on progressives' wish list. And President Biden is seriously considering "some debt reduction," he announced this week, though advocates shouldn't get their hopes...

Big Help Coming for Millions of Student Loan Borrowers

Retroactive help is on the way from the federal government

(Newser) - After years of lawsuits and pressure from lawmakers, activists, and others, the US Department of Education will offer retroactive assistance to millions of borrowers who utilized income-driven repayment (IDR) plans. Among those raising awareness of the issue was NPR , which this month released an investigation revealing how the plans, which...

Student Loan Servicer Must Cancel Debt of 66K Borrowers

Navient settles claims of predatory lending

(Newser) - Navient, one of the nation's large student loan servicers, has settled allegations of predatory lending practices for $1.85 billion, Pennsylvania's attorney general said Thursday. The settlement requires the company to cancel the debt of 66,000 borrowers, a total of $1.7 billion, and to pay $95...

NYU's Unwanted Distinction: High Debt Loads for Grads
NYU Diplomas Often Come
With a Large Burden
longform

NYU Diplomas Often Come With a Large Burden

'Wall Street Journal': Grads and parents have unusually high debt loads

(Newser) - The story begins with an anecdote about a 28-year-old woman selling her eggs—five times, actually—to make ends meet. The twist is that she has a master's from NYU, and the Wall Street Journal reports that her plight will be familiar to other grads from the school. "...

'Gold Mine' for Schools Is Misery for Grad Students

Wall Street Journal looks at how elite programs saddle students with lifelong debt

(Newser) - Congratulations, you've been accepted to Columbia University's film program. Welcome to your lifetime of debt. That's not quite the greeting new grad students receive, but it ends up being the unwelcome reality for all too many, reports the Wall Street Journal . The newspaper takes a lengthy look...

America's Student Debt Total Getting $500M Lighter

Loan relief granted to former ITT Tech students

(Newser) - The Education Department said Wednesday it's erasing student debt for thousands of borrowers who attended a for-profit college chain that made exaggerated claims about its graduates' success in finding jobs and students' ability to transfer credits elsewhere. The Biden administration said it's approving 18,000 loan forgiveness claims...

As Graduation Was Ending, Students Were Given a Big Gift

Ohio's Wilberforce University wipes away debt for graduating students

(Newser) - What's better than hearing your name read aloud at commencement? This: As Saturday's graduation ceremonies came to a close, Ohio's Wilberforce University President Elfred Anthony Pinkard let the 2020 and 2021 graduates know they would all be exiting without any student debt to the university. Cleveland.com...

University Uses COVID Relief to Cancel Student Debt

Delaware State just nuked $700K in loans

(Newser) - An historically Black university has canceled $730,655 in student debt. Per CNN , Delaware State University is issuing relief for recent graduates who've been hit particularly hard due to the pandemic and is doing so with the help of federal dollars provided through American Rescue Plan for COVID-19 relief....

She's Paid $60K on Student Debt of $78K, Now Owes $100K

Molly Webster writes of her uphill battle against interest on her loans

(Newser) - Molly Webster is a science reporter for the popular Radiolab show, but her op-ed in the New York Times is on a different topic entirely: student debt. "I have a secret shame," she begins. "I am 38 years old and I carry enormous federal student loan debt,...

Biden on Student Debt Idea: 'I Will Not Make That Happen'
Biden Shuts Down $50K
Student Debt Idea in 6 Words
the rundown

Biden Shuts Down $50K Student Debt Idea in 6 Words

'I will not make that happen'

(Newser) - President Biden on Tuesday slammed the door shut on a proposal to erase $50,000 in federal student loan debt per borrower with six words: "I will not make that happen," he said at a CNN town hall. But NBC News reports he did indicate that he was...

Judge Overturns Myth, Wiping Out a Student Loan Tab
Judge Wipes Out
a Student Loan Tab
in case you missed it

Judge Wipes Out a Student Loan Tab

$220K decision reflects the rethinking of standards for helping borrowers

(Newser) - Kevin J. Rosenberg borrowed about $116,500 between 1993 and 2004 to get him through the University of Arizona, where he earned a history degree, and Cardozo Law School. With interest, that debt grew to $221,400, the Wall Street Journal reports. In 2018, Rosenberg filed Chapter 7 bankruptcy, unable...

Their Daughter Wanted a Pricey College. They Said No

Slate essay suggests parents have a duty to help their children avoid a costly mistake

(Newser) - In an essay at Slate , Melody Warnick writes how she and her husband made the difficult decision to quash their teenage daughter's hopes of going to a fancy—meaning expensive—art school out of state upon graduation. Warnick feels like a "monster" for doing so, but the middle-class...

Is the Solution to the Student Debt Crisis Hiding in Kentucky?
Is the Solution to the
Student Debt Crisis
Hiding in Kentucky?
IN CASE YOU MISSED IT

Is the Solution to the Student Debt Crisis Hiding in Kentucky?

Berea College has taken a novel approach for more than a century

(Newser) - Could the answer to our student-debt woes be hiding rural Kentucky? Maybe, writes Holly Honderich for the BBC . And if it is, it's an answer that was arrived at in 1892. That's the year Berea College, which was founded nearly four decades prior, ceased charging tuition. Honderich explains...

Med School Is on Us, Cornell Decides

School will cover all costs for anyone qualifying for financial aid

(Newser) - Student debt is a burden for many college graduates. For new doctors, the need to repay loans can drive them to higher-paying specialties rather than family medicine. "We have been planning, strategizing, and raising money" to address the student debt issue, says the dean of Cornell University's medical...

Student Debt Is the Worst in These 10 States

Going to school in South Dakota could leave you with a big tab by graduation

(Newser) - One of the "hot-button" issues in the upcoming presidential election is how students will pay for their education, WalletHub notes—and to put things in geographical context, it's analyzed the numbers to see which states have the most and least student debt. The site looked at a dozen...

Sanders to Propose 'Revolutionary' End to an 'Absurdity'

Presidential contender wants to wipe out all $1.6T of student loan debt in the US

(Newser) - The first debates for Democratic presidential contenders are taking place Wednesday and Thursday, but one candidate isn't keeping a major proposal under wraps until then. Per Vox , Sen. Bernie Sanders on Monday is set to unveil legislation in support of a "College for All" proposal that calls for...

Man Who Fled US After Graduation: 'College Ruined My Life'

Student loan debt made living in America unbearable for Chad Albright, and others

(Newser) - You just graduated college. What are you doing next? The answer was not "going to Disney" for these three grads profiled by CNBC —it was fleeing to Ukraine, Japan, and even a jungle in India, all to escape the crushing debt from their student loans back in the...

Meet the Man Behind That Astonishing College Offer
Behind College Offer: The
Richest Black Person in US
the rundown

Behind College Offer: The Richest Black Person in US

Robert F. Smith is paying off the class debt at Morehouse College

(Newser) - It will be hard to top as a commencement speech going forward. Billionaire Robert F. Smith told 2019 graduates of Atlanta's Morehouse College in his speech Sunday that he would pay off all their student loans. Morehouse is a historically black college, and Smith is considered to be the...

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