The U.S. Department of Education has announced that it will delay wage garnishment for defaulted student loans. The move, revealed Friday, reverses the department’s earlier plan to gradually restart wage garnishment for groups of borrowers, and will allow the agency more time to finalize new repayment plans. Garnishing wages could have affect millions who are […]
Student Loans
Posted inEducation, HBCUs, Politics & Policy, Student Loans
Fate of HBCU Funding Uncertain as Trump Moves to Dismantle Education Department
In a move that could have disproportionate impacts on Black students and families, the Trump administration announced this month that it will relocate certain responsibilities out of the U.S. Department of Education in an effort to strip the agency of much of its authority. This includes plans to transfer several key programs — including those […]
Posted inEducation, Partner Content, Student Loans
Your Employer Can Now Match Your Student Loan Repayments as 401(k) Contributions
Originally published by The 19th Starting this year, employers can match employees’ student loan repayments as 401(k) contributions, a policy that experts say can be a “game changer” for Black women, who have the highest student loan debt on average. When someone makes a student loan payment, their employer can contribute that same amount of […]
Posted inEducation, Partner Content, Student Loans
Student Loan Payments Are Looming. The Debt Burdens Black Women Years After Graduation.
When it comes to student debt, no group of borrowers shoulders more of the burden than Black women. Black women graduate with an average of $38,800 in debt, more than any other group. And over time, the problem only worsens. A dozen years after they start college, Black women owe an average of 13% more […]
Posted inEducation, Partner Content, Student Loans
Parent PLUS Loans Can Debilitate Black Families. Here’s What to Know.
For Black parents looking to help their children pay for an education at a historically Black college or university, Parent PLUS loans have become a common choice. Congress created the loans as a way for middle- and upper-income parents to help their children pay for college. But over time, they’ve become the answer for many […]
Posted inEducation, Student Loans
What We Know About Biden’s Student Loan Debt Relief Plan Ahead of the Supreme Court Hearings
In less than 24 hours, the U.S. Supreme Court will hear oral arguments on President Joe Biden’s $400 billion student loan forgiveness program and consider whether the administration can advance the plan forward. The court agreed to hear two separate cases challenging the legality of Biden’s plan or whether Biden exceeded executive authority. After announcing […]
Posted inEducation, Student Loans
Student Loan Forgiveness Is On Hold. What’s Next for Black Borrowers?
A Texas judge this month halted President Joe Biden’s landmark student loan relief plan, which aims to forgive up to $20,000 in debt for tens of millions of borrowers. Now, the U.S. Department of Justice is asking the U.S. Supreme Court to reverse the judge’s ruling and allow Biden’s debt forgiveness program to move forward. […]
Posted inEducation, Student Loans
What More Student Loan Relief Would Mean for Black Borrowers
The news that Americans will see thousands of dollars wiped from their federal student loan debt has been met with elation by many — but disappointment by others. The Biden administration announced last month that it will forgive $10,000 to $20,000 per borrower, an unprecedented move to ease the nation’s student debt crisis. But those […]
Posted inEducation, Student Loans
Does Biden’s new student debt plan do enough for Black Americans?
President Joe Biden announced on Wednesday that the federal government will forgive thousands of dollars in federal student loan debt for each borrower, and will extend the freeze on loan payments through the end of this year. Borrowers who make $125,000 annually or less will see $10,000 in federal student loan debt wiped clean. That […]
Posted inEducation, Student Loans
‘It’s Untenable’: The Unequal Burden of the Student Debt Crisis
The pause on student loan payments is scheduled to end Aug. 31, and millions of Americans are contending with the prospect of another burdensome monthly expense. Dozens of Democratic lawmakers have publicly called for a seventh extension on the payment freeze, and many experts believe that the Biden administration will oblige. But for Black Americans, […]