261,000 more student-loan borrowers get $4.5 billion in debt cancellation in...
Biden announced an additional $4.5 billion in student-debt cancellation for 261,000 borrowers.The relief impacts borrowers who attended Ashford University, which a court found engaged in fraudulent behavior.This is among Biden's last debt relief efforts before he leaves the White House.More student-loan borrowers are getting debt relief during President Joe Biden's last week in the White…
Nobel economist Paul Krugman says Trump’s policies will leave his blue-collar...
Donald Trump champions the working class but his policies are bad news for them, Paul Krugman says.The Nobel-winning economist says tariffs and deportations will hurt instead of help the poor."A lot of people are going to get brutally scammed," Krugman said.Donald Trump rode to victory in the US presidential race by pledging to put America…
Mark Zuckerberg preps for Trump 2.0 by boosting an in-house Republican
Nick Clegg is leaving Meta. Joel Kaplan is replacing him as its top policy executive.Clegg joined Meta in 2018 to navigate European regulators amid election interference issues.Kaplan, with strong Republican ties, is seen as aligning Meta with Trump's Washington.Seeya, Europe.Hello again, Washington.Trump's Washington, that is.That's the way many people are interpreting a shake-up at the…
How a student-loan borrower got $155,000 in debt wiped out through...
Alrena Dale, 61, got $155,000 in student loans discharged through bankruptcy.Biden's new bankruptcy guidance, aimed at easing the process for borrowers, made that possible.Some attorneys told BI that the new guidance is a big help, but more outreach would be helpful.Alrena Dale, 61, had her six-figure student-loan balance wiped out after decades of payments. She's…
Biden is withdrawing his broader student-loan-forgiveness plans that were set to...
Biden's administration posted notices to withdraw its broader student-loan-forgiveness plans.Amid lawsuits, the Education Department wrote that it stands by the legality of its debt-relief plans.The plans aimed to cancel some student debt for over 38 million borrowers.President Joe Biden's administration has officially scrapped its unfinished rules for broad student-loan forgiveness.The Education Department posted notices to…
Why Trump is pushing hard to defuse the debt ceiling now...
President-elect Donald Trump has called on Congress to raise or eliminate the debt ceiling.He said doing so before his term would put the onus on Joe Biden and let him avoid an early fight.Going over the debt ceiling could lead to a default and a deep recession.The debt ceiling is the unexpected debate in Washington…
Musk’s DOGE is pushing the US toward a government shutdown this...
Elon Musk and Vivek Ramaswamy pressured Republicans to scrap their bill to keep the government funded.The US government is now set to shut down early Saturday morning if Congress doesn't act.A shutdown would furlough thousands of federal workers, impacting programs many Americans rely on.The US is once again on the brink of a government shutdown…
The Fed penciled in 2 interest-rate cuts for 2025 — but...
The Federal Reserve cut interest rates in its final decision of the year.It also penciled in two interest-rate cuts in 2025.Still, Powell said that Trump's proposed trade policies pose economic uncertainty.President-elect Donald Trump's potential trade policies could change the Federal Reserve's plans in the coming year.On Wednesday, the Federal Open Market Committee announced its third…
Democrats are urging Biden to cancel student debt for thousands of...
Democratic lawmakers urged Biden to cancel student debt for defrauded borrowers before Trump takes office.Some borrower defense applications are still pending, and lawmakers are pushing for prompt relief.Biden has canceled student debt for over 1 million borrowers defrauded by their schools.A group of Democratic lawmakers want President Joe Biden to quickly process student-debt cancellation applications…
DOGE aims to cut the number of federal workers. Here are...
Trump's new Department of Government Efficiency aims to reduce the number of federal workers.Business Insider looked at the highest average salaries of federal civilian employees by occupation.The top 20 had average salaries over $160,000, with medical officers ranking No. 1.Federal workers who are employed as medical officers, ship pilots, and general attorneys earn lucrative pay…