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Washington — The House voted Friday to avoid a prolonged government shutdown and approve tens of billions of dollars in disaster relief, with a bipartisan coalition embracing an agreement a few hours before a midnight deadline to extend funding.
The legislation passed by a vote of 366 in favor to 34 against and one member voting present, with more Democrats voting to support it than Republicans. The bill now goes to the Senate, where it is expected to sail through before heading to President Biden’s desk for his signature. This late in the day, and because of the process for sending over a bill, it won’t be until sometime this weekend that the president is able to sign it. But the effect on government functions should be minimal.
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THE BIDEN ADMINISTRATION ANNOUNCED THE CANCELLATION OF 4 POINT 28 BILLION DOLLARS IN STUDENT LOAN DEBT FOR 55,000 PUBLIC SERVICE WORKERS, BRINGING THE TOTAL STUDENT DEBT RELIEF APPROVED DURING BIDEN’S PRESIDENCY TO NEARLY 180 BILLION DOLLARS FOR ROUGHLY 4 POINT 9 MILLION BORROWERS.
THE BORROWERS INCLUDED IN FRIDAY’S CANCELLATION ARE PART OF THE PUBLIC SERVICE LOAN FORGIVENESS PROGRAM, WHICH FORGIVES FEDERAL STUDENT LOANS FOR GOVERNMENT AND NONPROFIT WORKERS AFTER 10 YEARS OF PAYMENTS. THE PROGRAM, ESTABLISHED IN 2007, FACED CRITICISM FOR BEING DIFFICULT TO NAVIGATE. IN 2021, THE BIDEN ADMINISTRATION IMPLEMENTED CHANGES TO ADDRESS ADMINISTRATIVE CHALLENGES AND SIMPLIFY THE PROCESS.
On Friday, the Biden-Harris administration announced another $4.28 billion in student loan forgiveness for nearly 55,000 borrowers in the Public Service Loan Forgiveness program. The latest debt cancellation news comes after years of challenges for the PSLF, recent payment pauses and legal disputes over student loan forgiveness.
This wave of student loan debt relief is a result of improvement the Department of Education made over the last few years to the Public Service Loan Forgiveness program.
PSLF offers student loan forgiveness to teachers, nurses and other public service workers who have worked a qualifying job for ten years or more. After making 120 qualifying payments, PSLF borrowers can have their remaining balances wiped…
“From Day One of my Administration, I promised to make sure that higher education is a ticket to the middle class, not a barrier to opportunity. Because of our actions, millions of people across the country now have the breathing room to start businesses, save for retirement, and pursue life plans they had put on hold because of the burden of student loan debt,” President Biden said in a statement.
The PSLF program provides relief for teachers, nurses, law enforcement…
President Biden has so far forgiven $180 billion in student loans for 4.9 million borrowers. Much more relief is unlikely now.
Andrew Caballero-Reynolds/AFP via Getty Images
The Biden administration’s ambitious plans to provide debt relief for millions of Americans is officially dead along with a number of other proposed regulatory changes.
The administration said Friday it’s withdrawing two debt relief proposals from consideration. The Education Department had been reviewing thousands of comments on the plans and preparing to finalize at least one proposal before Friday’s announcement. The Associated Press first reported on…
The statistic was revealed as the Wrekin Housing Group said it had helped its tenants clear £3 million of debt in the past five years thanks to the work of its in-house advice team.
Official insolvency statistics released by the government this week showed that across the country last month, the number of bankruptcies was up 25 per cent compared to this time last year, while debt relief orders – a process designed to help people with severe debt problems – also spiked by 23 per cent year-on-year.
Research carried out by the Trade Unions Council (TUC) earlier this year also revealed the UK was experiencing the largest annual rise in household debt since records began in 1987, with the average household expected to rack up an extra £1,600…
President Biden has so far forgiven $180 billion in student loans for 4.9 million borrowers. Much more relief is unlikely now.
Andrew Caballero-Reynolds/AFP via Getty Images
The Biden administration’s ambitious plans to provide debt relief for millions of Americans is officially dead.
The administration said Friday it’s withdrawing two debt relief proposals from consideration. The Education Department had been reviewing thousands of comments on the plans and preparing to finalize at least one proposal before Friday’s announcement. The Associated Press first reported on the decision.
Health House parent Melodiol Global Health has entered voluntary administration, the third medicinal cannabis company to hit the financial wall in six weeks.
Perth-based WA Insolvency Solutions has been appointed to handle the affairs of the firm, with a creditors’ meeting due to take place this morning (Friday).
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