#debt-relief

#debt-relief

The Education Department will eliminate $6.1 billion in loans for Art Institute students from 2004 to 2017 through borrower defense program. [ more ]

26 million Americans could benefit from the Biden administration's debt relief plan.

23 million borrowers may have their accrued interest eliminated under the plan. [ more ]

President Biden announces plan to pay off student loans for millions of borrowers

Plan aims to provide relief to 23 million borrowers by reducing or wiping out their debt [ more ]

The group of Republican-led states is suing the Biden administration over the student loan repayment plan, SAVE.

The lawsuit argues that the SAVE plan exceeds the Education Department's authority and resembles a previously struck down debt-relief plan. [ more ]

Biden administration's proposed guidelines for student loan hardship relief are likely to include automatic relief for borrowers in default.

Factors considered in assessing hardship for loan relief include income, assets, loan balance, repayment status, and more. [ more ]

President Biden is introducing a new plan to reduce or eliminate federal student loan balances for millions of borrowers.

The plan includes forgiving accrued interest, targeted debt cancellation, and automatic loan forgiveness for eligible borrowers. [ more ]

$6 billion in loan forgiveness for 78,000 public service workers announced by President Biden.

Total loan forgiveness under Biden administration is $144 billion for 4 million borrowers. [ more ]

New York City has pledged to pay down $2 billion worth of residents' medical debt, following the lead of Cook County, Illinois, which became the first local government to partner with RIP Medical Debt to alleviate its residents' debt.

RIP Medical Debt's model involves buying up unpaid hospital bills at a small fraction of the original value and forgiving them, effectively erasing the debt for patients. [ more ]

New York City will spend $18 million to pay off medical debt owed by up to 500,000 residents.

The program is estimated to erase over $2 billion of medical debt, making it the largest municipal initiative of its kind in the country. [ more ]

New York City will wipe out over $2 billion in medical debt for hundreds of thousands of working-class citizens.

Up to half a million New Yorkers will see their medical debt relieved thanks to the program, the largest municipal initiative of its kind in the country. [ more ]

New York City plans to wipe out over $2 billion in medical debt for up to 500,000 residents.

The city is partnering with RIP Medical Debt to buy the debt in bulk and forgive the amounts for people with low incomes or financial hardships. [ more ]

New York City will purchase and erase millions of dollars of medical debt for up to 500,000 residents

The program is aimed at low-income New Yorkers with medical bills at least 5% of their annual household income [ more ]

New York City is launching an effort to wipe out $2 billion in medical debt for city residents.

The initiative is supported by $18 million over three years from the city and could help up to 500,000 New Yorkers with medical debt. [ more ]