Student Loan Debt
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July 1 student loan changes may affect Wisconsin borrowers
Starting July 1, student loan borrowers in Wisconsin will face changes affecting repayment plans and borrowing capacities, among other rules.
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Study: Wisconsin trails most states in college affordability
The state ranked 46th in its share of public colleges considered affordable. As Wisconsin lawmakers spend less on higher education, some see tuition promise programs as part of the solution.
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Biden cancels student loan debt for 3,940 more Wisconsinites
Friday’s announcement is just the latest round of student debt cancellation enacted by the Biden administration, which has approved relief for more than 4.3 million people so far, including 44,380 people in Wisconsin.
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Biden unveils new plan for student debt relief
The president’s plan builds on existing debt cancellation efforts and would extend loan relief to more than 30 million borrowers.
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Biden proposes new student debt relief plan for Wisconsin borrowers facing ‘hardship’
The new proposal will focus on providing debt relief to those with older loans or loans with large sums of interest; those with high-cost, unavoidable child care or health care expenses; borrowers who are highly likely to default; and others who face “financial hardship.”
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Wisconsinites get relief as Biden cancels nearly $5 billion more in student debt
More than 28,000 Wisconsinites have had their student debt discharged or have been identified for debt relief due to the Biden administration’s reforms of the student loan debt system.
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Wisconsinites Get Financial Relief as Biden Cancels More Student Debt
This round of debt relief will eliminate the debt of 125,000 borrowers nationwide: 22,000 with disabilities, 51,000 through an income-driven repayment plan, and 53,000 through the Public Service Loan Forgiveness program.
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Here Are Your Options As Student Loan Payments Resume
Nearly half of all borrowers say they aren’t financially prepared to begin repaying their debt. Despite this, interest began accruing again on Sept. 1, and payments will be due again in October.
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How Biden Is Still Trying To Make Student Debt Relief Happen
The Biden administration has begun the process of creating a new plan for widespread loan cancellation and implementing the SAVE Plan, which will cut monthly payments to $0 for millions of borrowers. There will also be a 12-month “on-ramp” period to ease borrowers back into making payments.
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800,000 Borrowers to Get Student Debt Canceled, Biden Administration Announces
For many borrowers, qualifying monthly payments that should have moved them closer to forgiveness were not accounted for, effectively forcing them to make extra payments under their IDR plans.
