Student Loan Programs
September 29, 2022U.S. Department of Education Estimate: Biden-Harris Student Debt Relief to Cost an Average of $30 Billion Annually Over Next Decade
In August, the Biden-Harris Administration announced its plan to cancel up to $20,000 in student debt for eligible borrowers to give working and middle-class families more breathing room as they recover from the pandemic. Today, the U.S. Department of Education (Department) released its estimate of the costs of the Biden-Harris Administration's Student Debt Relief.
August 29, 2022Education Department Approves $1.5 billion in Debt Relief for 79,000 Borrowers Who Attended Westwood College
Today, the U.S. Department of Education (Department) announced that it will discharge all remaining federal student loans for borrowers who enrolled in any location of Westwood College (including enrollment in Westwood's online program) between January 1, 2002 through November 17, 2015 when it stopped enrolling new borrowers in advance of its 2016 closure.
August 24, 2022Biden-Harris Administration Announces Final Student Loan Pause Extension Through December 31 and Targeted Debt Cancellation to Smooth Transition to Repayment
Today, the U.S. Department of Education (Department) announced a final extension of the pause on student loan repayment, interest, and collections through December 31, 2022. Borrowers should plan to resume payments in January 2023.
August 23, 2022Thanks to Temporary Changes, U.S. Department of Education Announces Public Service Loan Forgiveness Surpasses $10 Billion in Debt Relief
Today, the U.S. Department of Education (Department) announced that it has approved more than $10 billion in debt relief for over 175,000 borrowers in 10 months through the Public Service Loan Forgiveness (PSLF) program.
July 25, 2022Education Department Releases Proposed Regulations to Protect Veterans and Service Members, Increase College Oversight, and Increase College Access for Incarcerated Individuals
Today, the U.S. Department of Education (Department) released proposed regulations that would implement critical changes in the American Rescue Plan Act of 2021 that better protect veterans and service members from being subject to aggressive targeting practices by requiring private for-profit institutions to obtain at least 10 percent of revenue from non-federal sources.
June 1, 2022Education Department Approves $5.8 Billion Group Discharge to Cancel all Remaining Loans for 560,000 Borrowers who Attended Corinthian
Today, the U.S. Department of Education (Department) announced it will discharge all remaining federal student loans borrowed to attend any campus owned or operated by Corinthian Colleges Inc. (Corinthian) from its founding in 1995 through its closure in April 2015. This will result in 560,000 borrowers receiving $5.8 billion in full loan discharges.
August 6, 2021
WASHINGTON – Today, the U.S. Department of Education (Department) announced a final extension of the pause on student loan repayment, interest, and collections until January 31, 2022. The Department believes this additional time and a definitive end date will allow borrowers to plan for the resumption of payments and reduce the risk of delinquency and defaults after restart.
May 7, 2021Secretary Cardona Holds Virtual Roundtable with Educators to Discuss the Public Service Loan Forgiveness Program
This afternoon, U.S. Education Secretary Miguel Cardona held a virtual roundtable to discuss the Public Service Loan Forgiveness (PSLF) program with educators who have student loans and are participating in the program.
April 2, 2021Secretary of Education Joins Senator Elizabeth Warren and Senator Chuck Schumer for a Roundtable Discussion With Student Loan Borrowers and Advocates
Today, Secretary Cardona joined a roundtable discussion alongside Senate Majority Leader Chuck Schumer and Senator Elizabeth Warren to listen as student loan borrowers and advocates shared their stories about the impact student loan debt has had on their lives.
January 31, 2013
Student loan interest payments are reported on the IRS Form 1098-E, Student Loan Interest Statement.
If you made federal student loan payments in 2020, you may be eligible to deduct a portion of the interest you paid on your 2020 federal tax return.