FACT SHEET: President Biden Announces Student Loan Relief for Borrowers Who Need It Most | Eastern North Carolina Now

    Further, the Department of Education will make it easier for borrowers who enroll in this new plan to stay enrolled. Starting in the summer of 2023, borrowers will be able to allow the Department of Education to automatically pull their income information year after year, avoiding the hassle of needing to recertify their income annually.

    Ensuring Public Servants Receive Credit Toward Loan Forgiveness

    Borrowers working in public service are entitled to earn credit toward debt relief under the Public Service Loan Forgiveness (PSLF) program. But because of complex eligibility restrictions, historic implementation failures, and poor counseling given to borrowers, many borrowers have not received the credit they deserve for their public service.

    The Department of Education has announced time-limited changes to PSLF that provide an easier path to forgiveness of all outstanding debt for eligible federal student loan borrowers who have served at a non-profit, in the military, or in federal, state, Tribal, or local government for at least 10 years, including non-consecutively. Those who have served less than 10 years may now more easily get credit for their service to date toward eventual forgiveness. These changes allow eligible borrowers to gain additional credit toward forgiveness, even if they had been told previously that they had the wrong loan type.

    The Department of Education also has proposed regulatory changes to ensure more effective implementation of the PSLF program moving forward. Specifically, the Department of Education has proposed allowing more payments to qualify for PSLF including partial, lump sum, and late payments, and allowing certain kinds of deferments and forbearances, such as those for Peace Corps and AmeriCorps service, National Guard duty, and military service, to count toward PSLF. The Department of Education also proposed to ensure the rules work better for non-tenured instructors whose colleges need to calculate their full-time employment.

    To ensure borrowers are aware of the temporary changes, the White House has launched four PSLF Days of Action dedicated to borrowers in specific sectors: government employees, educators, healthcare workers and first responders, and non-profit employees. You can find out other information about the temporary changes on PSLF.gov. You must apply to PSLF before the temporary changes end on October 31, 2022.

    Protecting Borrowers and Taxpayers from Steep Increases in College Costs

    While providing this relief to low- and middle-income borrowers, the President is focused on keeping college costs under control. Under this Administration, students have had more money in their pockets to pay for college. The President signed the largest increase to the maximum Pell Grant in over a decade and provided nearly $40 billion to colleges and universities through the American Rescue Plan, much of which was used for emergency student financial aid, allowing students to breathe a little easier.

    Additionally, the Department of Education has already taken significant steps to strengthen accountability, so that students are not left with mountains of debt with little payoff. The agency has re-established the enforcement unit in the Office of Federal Student Aid and it is holding accreditors' feet to the fire. In fact, the Department just withdrew authorization for the accreditor that oversaw schools responsible for some of the worst for-profit scandals. The agency will also propose a rule to hold career programs accountable for leaving their graduates with mountains of debt they cannot repay, a rule the previous Administration repealed.

    Building off of these efforts, the Department of Education is announcing new actions to hold accountable colleges that have contributed to the student debt crisis. These include publishing an annual watch list of the programs with the worst debt levels in the country, so that students registering for the next academic year can steer clear of programs with poor outcomes. They also include requesting institutional improvement plans from the worst actors that outline how the colleges with the most concerning debt outcomes intend to bring down debt levels.

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    More information on claiming relief will be available to borrowers in the coming weeks.

    Borrowers can sign up to be notified when this information is available at StudentAid.gov/debtrelief.

    JOSEPH R. BIDEN JR.

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  • poll#160
    Are you in favor of the Joe Biden Executive Order, just weeks before the midterm elections, to shift the Higher Education debt, of up to $10,000.00 per individual, to the taxpayers of this Republic (estimated at 1/2 trillion)?
      Yes, it costs so much to go to college, and the right job is so hard to find in my focus of study.
      No, one's individual debt should be born by the beneficiary of that debt; certainly NOT by others that work to support their own families and pay their own debts, and their taxes.
      I am bereft of knowledge, so who cares?
    456 total vote(s)     What's your Opinion?


    poll#154
    Inarguably, the policies of the Democrats in congress and Joe Biden as the Executive is plunging the United States into a recession, if we are not already there; a recession that was completely avoidable. Will abrupt changes in policies occur in time?
      Yes, the Democrats have a bold plan, yet to be revealed, to save us.
      No, there will have to be a complete undoing of the damage done by these Democrats.
      I can't do simple math, so how am I to understand the concept of basic economics.
    1,216 total vote(s)     What's your Opinion?

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( August 30th, 2022 @ 11:15 am )
 
Shifting debt from individuals, who incurred that debt, to taxpayers who did not incur that debt is the worst policy in a line of tragically bad policies that this Idiot President has ever foisted upon the American People.

This is not a cynical estimation on my part; this is the clarion knowledge that when an idiot, in this case the Fool Biden, believes at his dwindling core that his constituents are even more stupid than he is, and that here now, in the nearing shadows of the midterm elections, he has enacted an Executive Order that is blatantly inane, and unnatural communist policy. The incredible fact is that the Fool President actually believes that he will be perceived as wise to those that would vote as non patriots for himself, the Non Patriot Biden.

Accordingly by keeping a clear mind, as one considers Biden the Idiot President, remember this: Hunter Biden is his son, a boy-man that the Fool President believes to be "the smartest person he has ever met," and just instinctively know that "this fruit don't fall far from this tree."



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