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If the idea is to keep student loans affordable for borrowers and the government determines what’s affordable based on income, “it doesn’t really make logical sense,” that you would make a distinction between how much a borrower has to pay based on their degree, said Persis Yu, deputy executive director...

“Anyone who has interacted with the student loan system in this country knows that automatic relief programs are the only relief programs that work,” Mike Pierce, the executive director and co-founder of the Student Borrower Protection Center, said in a written statement.

Between 1993 and 2006, more than 14,700 people combined their debt through the spousal consolidation program, according to federal data obtained by the Student Borrower Protection Center. Many of the loans have been repaid over time, but there are still about 770 loans remaining, according to federal data.

When President Joe Biden announced a plan to forgive student loan debt, many borrowers who kept making payments during the pandemic wondered if they’d made the right choice. Borrowers who paid down their debt during a pandemic freeze that started in March 2020 can in fact get a refund , but the process...

“This move by the Education Department is a positive and necessary step for fulfilling President Biden's historic promise to cancel student debt,” said Student Borrower Protection Center executive director Mike Pierce in a statement on Tuesday. “We’re glad to see that the Department understands the importance of automation and maximizing...

Millions of Californians got a long-awaited financial boost last month when the Biden administration announced that it would cancel up to $20,000 in federal student debt for low- and moderate-income borrowers. But California tax policy could throw a wet blanket over the party. That's because the loan forgiveness may be taxable under...

“Even if you were a hard-nosed accountant who only cared about collecting money for taxpayers, it makes no sense to try and collect a loan by driving borrowers into poverty and preventing them from getting back on their feet,” Education Department Undersecretary James Kvaal said in his opening remarks during...

"For the most part, it's a great opportunity for borrowers," said Persis Yu, policy director and managing counsel at the Student Borrower Protection Center, in a call with MarketWatch.

“The sudden renewed interest in these refunds is, in part, people believing in the student loan system again,” said Michael Pierce, executive director of the Student Borrower Protection Center. He said the nonprofit spoke with borrowers early on in the pandemic who tried to submit written requests fora refund and...

“This additional relief for Pell borrowers is also an important piece of racial equity in cancellation,” said Kat Welbeck, Civil Rights Counsel for the Student Borrower Protection Center. “Because student debt exacerbates existing inequities, the racial wealth gap means that students of color, especially those that are Black and Latino,...