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Attorney generals for 17 Republican-led states have sued the Biden administration over its latest student loan debt forgiveness plan, arguing it does not have the authority to wipe out student loan debt for an estimated 30 million Americans. Under Biden’s new effort, called the Saving on a Valuable Education plan, “borrowers who originally took out $12,000 or less in loans and have been in repayment for 10 years are eligible to get their remaining debt canceled,” an April 8 news release states. The SAVE plan would also forgive debt for “borrowers in public service for 10 years who have made...

WASHINGTON (AP) — Niara Thompson couldn’t shake her frustration as the Supreme Court debated President Joe Biden’s student debt cancellation. As she listened from the audience Tuesday, it all felt academic. There was a long discussion on the nuances of certain words. Justices asked lawyers to explore hypothetical scenarios. For Thompson, none of it is hypothetical. A student at the University of Georgia, she grew up watching her parents struggle with student loans and will graduate with about $50,000 of her own student debt. Thompson and her father are each eligible for $10,000 in relief, she said. It would move...

President Joe Biden’s plan to forgive some student loans was attacked Sunday by former adviser to Bill Clinton, Paul Begala, who despaired at what he called “terrible policy.” Addressing the $300 billion loan bailout during CNN’s “State of the Union,” the Democrat strategist found any number of flaws in the plan.

Paul Pelosi, the husband to House Speaker Nancy Pelosi (D-CA), is linked to a company that saw millions in loans forgiven through the Paycheck Protection Program.The Paycheck Protection Program was a national mainstay at the height of the pandemic to help small businesses make their way through a marred economy and retain employees.However, elites also took advantage of the program, and Paul Pelosi might have benefited, according to a report....EDI Associates, a restaurant-based company, will not have to repay two loans worth a total of $1.7 million in federal government loans, according to the report.

It is no secret that the student debt burden in America, now estimated at a cumulative $1.64 trillion, is one of the greatest scandals of a scandal-debauched age. According to Forbes, it is now the second-highest consumer debt category, higher than both credit card and auto loan debt, and behind only mortgage debt. It represents a crisis of national proportions. Notwithstanding the rosy assumptions we sometimes come across, refinancing is merely a stopgap measure that only marginally relieves the pressure blighting the lives of graduates. Student loan forgiveness, a more dramatic attempt to deal with the problem, comes in several...

The White House push to confront rivals over trade has spread beyond the world’s biggest economies such as China and Europe to include poorer countries that also see the U.S. as a critical market for their goods. Since President Trump took office 18 months ago, the U.S. Trade Representative has launched wide-ranging reviews of the eligibility of less-developed countries for a federal government program that lowers tariffs for thousands of the products they export to the U.S.

China’s president on Saturday pledged billions in aid and said Beijing will forgive debts due this year in an effort to help the world’s poorest nations, as world leaders begin to seek the trillions of dollars needed to help achieve sweeping new development goals. President Xi Jinping spoke at a global summit that on Friday launched the non-binding goals for the next 15 years. Xi and others spoke as the U.N. gathering began to shift focus from development to the high-powered General Assembly meeting that begins Monday with speeches by Xi, President Barack Obama, Russian President Vladimir Putin and Iranian...

WASHINGTON (Reuters) - More middle-class Americans will be able to work out their debts to the U.S. Internal Revenue Service because of changes in a tax payment forgiveness program, the agency announced on Monday. The "Offer in Compromise" program lets taxpayers negotiate agreements with the IRS to pay less than the full tax owed. The announced changes make the program more flexible for taxpayers, with some people able to pay off their debts faster, according to the IRS. The IRS announcement focused on the financial analysis used to determine which taxpayers qualify for an Offer in Compromise. Additionally, the program...

We need to start taking student loan debt seriously, both as a troubling moral issue and as a ticking economic time bomb. By some reports, student loan debt will exceed 1 trillion dollars this year, more than the credit card debt of all Americans. A whole generation of young Americans is at risk in this excessive borrowing. They fall further and further behind in “servicing their debt” because they have no way to keep up with the payments as many of them are unemployed or underemployed. They will delay starting marriage and families; they dare not take the risk of...

<p>What a difference a year makes. In September 2002, Gerhard Schroeder was attacking U.S. policy toward Iraq for political gain. These days, the German Chancellor is taking pains to present himself as a loyal American ally.</p> <p>At a meeting with Journal editors in New York Friday, Mr. Schroeder said he favors cancellation of some of the 4.5 billion to 5 billion euros in sovereign debt that Iraq owes to Germany as a contribution to Iraq's reconstruction effort. Relieving Iraq of that burden, particularly if other important creditors follow suit, would make a significant contribution to Iraq's rebuilding effort.</p>