The Biden administration announced plans for federal student loan relief last month. The plans include the cancellation of up to $10,000 in debt for borrowers who meet income requirements and up to $20,000 for Pell Grant recipients. Beyond cancellation, the proposal also extended the pause on loan repayment through the end of the year and introduced a … Continued
Cancellation is the most popular proposal to address student loan debt, but it isn’t the only one out there. With the interest-free student loan payment pause in its third year, some wonder if 0% interest on student loans is a better answer. “I think this COVID pause has really illustrated — hopefully for policymakers but … Continued
Humanities majors are more than a punchline. Not everyone can or wants to be a STEM major, and the world would be a poorer place if they were. To have great things to read, music that inspires, perspectives that challenge us — to have a sense of reward and meaning in life — we must … Continued
The summer before your freshman year in college means choosing classes, checking out your future roommate’s Instagram and figuring out how you’re going to pay the bills. Chances are you will need a loan: 2 out of 3 students have debt when they leave school, according to 2017 graduate data from the Institute for College … Continued
Until late October, community college in the U.S. was the closest it’s ever been to becoming free for everyone nationwide. A $45.5 billion proposal for two years of free community college, part of the Biden administration’s “Build Back Better” agenda, promised students a path to attain a college degree without student loans — a transformative pledge in … Continued
Living in the dorms is a rite of passage for millions of first-year college students. But like the rest of the college experience, it’s costly. And in many cases it’s mandatory. Moving my only daughter into the dorms of scenic Appalachian State University her freshman year was tough on us both, but an exciting time. … Continued
For 42.9 million student loan borrowers, it’s been 18 months without a payment. That ends in October — ready or not. The interest-free federal student loan payment pause, known as a forbearance, was extended three times after it initially went into effect in March 2020 as a way to help reduce the financial blow many … Continued
Federal student loans will be more expensive for 2021-22 school year. Even so, borrowers will still see some of the lowest student loan interest rates of the past decade. Interest rates for new undergraduate federal student loans will rise from 2.75% to 3.73% for 2021-22. The interest rates for undergraduate, graduate and PLUS loans are determined by … Continued
A cautionary note for the high school classes of 2020 and 2021: Waiting to enroll in college decreases the likelihood you’ll ever attend or complete a degree. It’s a valid concern for both cohorts. Due to the pandemic, undergraduate enrollment was down 2.5% in fall 2020 and down 4.5% for spring 2021, compared with the … Continued
In the third round of COVID-19 relief, college students and their families could see more money in their pockets than before. The $1.9 trillion American Rescue Plan Act, signed by President Joe Biden on Thursday, provides students with immediate and long-lasting financial benefits, including: Relief checks, even for dependent students. Emergency financial aid grants from their schools. Child tax … Continued