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Biden Moving Ahead on Student Loan Forgiveness - SavingAdvice.com Blog


SavingAdvice.com Blog
 
One of the planks in President Joe Biden’s election campaign called for student loan debt forgiveness. Now, it seems the talk is turning to action.
The president signed an executive order extending a pause of student federal loan payments on his first day in office. Previously he expressed doubt he could cancel student loan debt on his own. However, with an evenly divided Senate, he is examining non-legislative options.
An Executive Order
Last week, Biden asked Education Secretary Miguel Cardona to determine if the president can use an executive order to wipe out student loan debt. Cardona’s report is due any day. ....

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Discussing parent student loans with kids | Living


Discussing parent student loans with kids
In more than one-third of U.S. families, parents decide how to pay for college, according to a July 2020 report from private lender Sallie Mae.
Half of those parents don t inform the child of their decision.
Joe Allen, 51, of Frederick, Maryland, did talk about college costs with his daughter, a freshman at the University of Dayton in Ohio. But he understands why some families avoid the topic.
“As a parent, you want to protect your children,” Allen says. “You want to do what s best for them.”
But what seems best for children may be bad for mom or dad – especially if it means taking out hefty parent student loans without discussing them. Here s how to avoid that misstep and others when borrowing parent loans. ....

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