Tag: Congress

Biden to continue freeze of payments, ask Congress to erase debt

President-elect Joe Biden’s administration plans to continue a pause on federal student loan payments when he takes office later this month, according to officials helping with the transition.

The nation’s tens of millions of student loan borrowers could continue to abstain from making payments, though it wasn’t immediately clear how long the pause would last.

Biden officials also said Friday they would encourage Congress to pass legislation to erase $10,000 in federal student loan debt per person. That move, however, is likely to draw criticism from activists who have pushed Biden to forgive more debt per person, in some cases

Read more

Outgoing Secretary of Education Betsy DeVos urged against student loan forgiveness in letter to Congress

U.S. Education Secretary Betsy Devos speaks during a White House coronavirus disease (COVID-19) task force briefing at the U.S. Education Department in Washington, U.S., July 8, 2020. REUTERS/Carlos Barria
U.S. Education Secretary Betsy Devos speaks at White House coronavirus task force briefing at the Education Department in Washington Reuters
  • Outgoing Secretary of Education Betsy DeVos advised Congress to vote against student loan forgiveness, according to a letter obtained by CBS News and Politico.

  • “Across-the-board forgiveness of college debts is not only unfair to most Americans, it is also the most regressive of policy proposals – rewarding the wealthiest sector of our labor force at the expense of the poorest,” she wrote.

  • In the apparent farewell letter addressed to Senate Majority Leader Mitch McConnell, DeVos outlined a number of education

Read more

In farewell, DeVos urges Congress to reject Biden’s policies

In a farewell letter to Congress on Monday, Education Secretary Betsy DeVos urged lawmakers to reject President-elect Joe Biden’s education agenda, while imploring them to shield Trump administration policies that Biden has promised to eliminate.

DeVos does not explicitly acknowledge President Donald Trump’s election defeat nor does she refer to Biden by name. Instead, her letter offers lawmakers “some encouragement and closing thoughts.” As DeVos prepares to exit the Education Department, she says the coronavirus pandemic has exposed much that is “not encouraging” about U.S. education.

“While my time as Secretary is finite, my time as an advocate for children

Read more

Trump signs bipartisan coronavirus relief bill after calling on Congress to approve $2,000 stimulus checks

trump kudlow oval office
President Donald Trump speaks during an event commemorating the repatriation of Native American remains and artifacts from Finland in the Oval Office of the White House in Washington, DC, September 17, 2020. SAUL LOEB/AFP via Getty Images
  • President Donald Trump signed the $900 billion bipartisan coronavirus relief package on Sunday.

  • The negotiated rescue package contained $600 stimulus checks, federal unemployment aid, food and rental assistance, as well as education funding.

  • “I will sign the Omnibus and Covid package with a strong message that makes clear to Congress that wasteful items need to be removed,” Trump said in a statement.

  • “I

Read more

Education Department pauses student loan bills, awaiting Congress or Trump to act

The Education Department has ordered the companies that collect federal student loans to temporarily postpone sending bills to borrowers as the Trump administration figures out how to handle the looming expiration of student loan relief.

Unless Congress or the Trump administration takes action in the coming weeks, the freeze on monthly payments and interest for tens of millions of federal student loan borrowers is set to expire on Dec. 31.

The Education Department, which had been gearing up to collect payments starting in January, now appears to be trying to buy time to figure out how to go about collection.

Read more