Student Loans

Yale, US universities plan student loan options as Trump caps grad debt

Graduate student loans account for half of the outstanding $1.7 trillion federal student loan portfolio, according to the Education Department

US moves to limit loan relief for nonprofits tied to 'illegal' activity

The Trump administration is forging ahead with plans to eject some nonprofits from a popular student loan forgiveness programme if their work is deemed to have a substantial illegal purpose a move that could cut off some teachers, doctors and other public workers from federal loan cancellation. New rules finalised Thursday give the Education Department expanded power to ban organisations from the Public Service Loan Forgiveness program. The Trump administration said it's necessary to block taxpayer money from lawbreakers. Critics say it turns the programme into a tool of political retribution. Set to take effect in July, the policy is aimed primarily at organisations that work with immigrants and transgender youth. It grants the education secretary power to exclude groups from the program if they engage in activities including the trafficking or chemical castration of children, illegal immigration and supporting terrorist organisations. Chemical castration is defined as using horm

Trump admin relents, to resume student loan forgiveness for millions

The White House reached an agreement with the AFT last week to restart student loan forgiveness for eligible borrowers under 'Income-contingent' and 'Pay as you earn' plans

Trump effect: Banks consider reviewing policies for US study loans

Among the measures, look at rigorous background checks on institutions and visa scrutiny

MIT goes tuition-free for families earning below $200k in 2025: Details

Known as a global leader in STEM, the Massachusetts Institute of Technology's financial aid programme addresses student debt in the US, which surpassed $1.6 trillion in 2020

Cabinet approves PM-Vidyalaxmi to provide aid to meritorious students

Rs 3,600 crore outlay outlined for the scheme till FY31

Lack funds for education? Here's all you need to know about education loans

Whether it's tuition fees, books, or even a laptop, education loans help cover the costs and make education more affordable

Skill ministry launches revised loan scheme, up to Rs 750K per student

The new credit guarantee scheme has now also been extended to NBFCs, MFIs and SFBs

US appeals court blocks implementation of Biden's student debt relief plan

A federal appeals court blocked the implementation of the Biden administration's student debt relief plan, which would have lowered monthly payments for millions of borrowers. In a ruling Thursday, the 8th Circuit Court of Appeals granted a motion for an administrative stay filed by a group of Republican-led states seeking to invalidate the administration's entire student loan forgiveness programme. The court's order prohibits the administration from implementing the parts of the SAVE plan that were not already blocked by lower court rulings. The ruling comes the same day that the Biden administration announced another round of student loan forgiveness, this time totalling $1.2 billion in forgiveness for roughly 35,000 borrowers who are eligible for the Public Service Loan Forgiveness programme. The PSLF program, which provides relief for teachers, nurses, firefighters and other public servants who make 120 qualifying monthly payments, was originally passed in 2007. But for years, .

More Republican states sue to block Biden''s student loan repayment plan

Another group of Republican-led states is suing to block the Biden administration's new student loan repayment plan, which offers a faster path to cancellation and has already been used to forgive loans for more than 150,000 borrowers. Seven states led by Missouri filed a federal lawsuit Tuesday challenging Biden's SAVE Plan, which has become a new legal target for conservative opponents after the Supreme Court toppled the Democratic president's first attempt at student loan cancellation. It largely mirrors another suit filed last month by Republican attorneys general in 11 states, led by Kansas. Yet again, the President is unilaterally trying to impose an extraordinarily expensive and controversial policy that he could not get through Congress, according to the new suit. Filed just a day after Biden trumpeted a new proposal to cancel student loans for millions of borrowers, the lawsuit sets the stage for one legal battle and foreshadows another. The suit doesn't directly challenge

Republican states challenge Prez Biden's student loan repayment plan

A group of Republican-led states is suing the Biden administration to block a new student loan repayment plan that provides a faster path to cancellation and lower monthly payments for millions of borrowers. In a federal lawsuit filed Thursday, 11 states led by Kansas argue that Biden overstepped his authority in creating the SAVE Plan, which was made available to borrowers last year and has already cancelled loans for more than 150,000. It argues that the new plan is no different from Biden's first attempt at student loan cancellation, which the Supreme Court rejected last year. "Last time Defendants tried this the Supreme Court said that this action was illegal. Nothing since then has changed," according to the lawsuit. Biden announced the SAVE repayment plan in 2022, alongside a separate plan to cancel up to USD 20,000 in debt for more than 40 million Americans. The Supreme Court blocked the cancellation plan after Republican states sued, but the court didn't examine SAVE, which

New York medical school to become tuition-free after $1 billion donation

The donation made by former Professor Ruth Gottesman stands as one of the largest charitable contributions to an educational institution in the United States

Too many saddled with school debt, says Biden as he cancels federal loans

President Joe Biden said Wednesday that while a college degree was still a ticket to a better life, that ticket is often too expensive, as he announced he was cancelling federal student loans for nearly 153,000 borrowers. Biden, who is in the midst of a three-day campaign swing through California, made the announcement as part of a new repayment plan that offers a faster path to forgiveness, putting the spotlight on his debt cancellation efforts as he ramps up his reelection campaign. Too many Americans are still saddled with unsustainable debt in exchange for a college degree, he said from a local library, before he went on to campaign-related events. Loan relief helps the greater economy, he reasoned, because "when people have a student debt relief, they buy homes. They start businesses, they contribute. They engage. The administration began sending email notifications on Wednesday to some of the borrowers who will benefit from what the White House has called the SAVE program. The

Biden administration is moving toward a narrower student loan relief

The Biden administration is moving toward a narrower student loan relief plan that would target specific groups of borrowers those with soaring interest, for example rather than a sweeping plan like the one the Supreme Court rejected in June. The Education Department on Monday released a draft of new federal rules paving the way for a second attempt at student loan relief. The proposal targets groups that are seen as especially vulnerable, focusing on those who owe so much, or make so little income, that they otherwise may never repay their loans. Though full details are likely months away, the department says it wants to cancel some or all student debt for: borrowers whose balances exceed what they originally owed; those who have loans that entered repayment 25 or more years ago; those who used loans to attend career-training programs that led to unreasonable debt loads or insufficient earnings; those who are eligible for other loan forgiveness programs but did not apply. A fifth

Scheme for student loans at 1% interest will ensure higher education: HP CM

The Himachal Pradesh government has implemented a new scheme this financial year to provide educational loans to eligible students of the state at an interest rate of one per cent, Chief Minister Sukhvinder Singh Sukhu said on Monday. The government is committed to providing quality education and the 'Dr Y S Parmar Vidyarthi Rin Yojna' will ensure that no youngster of the state is deprived of higher or professional education due to financial constraints, he said in a statement. In his Budget speech in March, Sukhu announced that education loans would be provided at the rate of one per cent to students of the state. Students from families having an annual income of less than Rs 4 lakh are eligible to avail loans under this scheme, he said. The age limit to avail of the loan has been fixed at 28 years as of registration and admission date. Sukhu said a corpus will be maintained at the level of the deputy commissioner in the districts for cases in which the money is required to be ...

Auxilo Finserve raises Rs 470 cr; to expand loan base, product offerings

The company stated that it has funded over 7,500 students across over 900 universities in over 25 countries

Biden administration announces $39 billion student debt forgiveness plan

The new plan counts more payments toward a forgiveness program that kicks in when borrowers have made the equivalent of either 20 or 25 years worth of payments

US Supreme Court blocks Biden's $430 billion student loan forgiveness

A sharply divided Supreme Court ruled Friday that the Biden administration overstepped its authority in trying to cancel or reduce student loans for millions of Americans. The 6-3 decision, with conservative justices in the majority, effectively killed the USD 400 billion plan, announced by President Joe Biden last year, and left borrowers on the hook for repayments that are expected to resume by late summer. The court held that the administration needs Congress' endorsement before undertaking so costly a program. The majority rejected arguments that a bipartisan 2003 law dealing with student loans provided the authority Biden claimed.

Course, institute determine lender's willingness to offer an education loan

Be prepared to shell out 10-20% of the total cost out of your own pocket when you go abroad for studies

US Supreme Court to rule on Prez Biden student loan cancellation plan

The Supreme Court agreed Thursday to decide whether the Biden administration can broadly cancel student loans, keeping the programme blocked for now but signalling a final answer by early summer. That's about two months before the newly extended pause on loan repayments is set to expire. The administration had wanted a court order that would have allowed the program to take effect even as court challenges proceed. The justices didn't do that, but agreed to the administration's fallback, setting arguments for late February or early March over whether the program is legal. President Joe Biden's plan promises USD 10,000 in federal student debt forgiveness to those with incomes of less than USD 125,000, or households earning less than USD 250,000. Pell Grant recipients, who typically demonstrate more financial need, are eligible for an additional USD 10,000 in relief. The Congressional Budget Office has said the program will cost about USD 400 billion over the next three decades. More