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There has been a quick turn of events that will impact millions of borrowers. As AFROTECH™ previously reported, President Joe Biden’s student loan forgiveness plan was given the green light to be put into action on Oct. 2, 2024, by U.S. District Judge Randall Hall, who represents the Southern District of Georgia. NBC News reports the plan had been under a temporary restraining order that was a result of a lawsuit against Biden and Education Secretary Miguel Cardona. It was brought forward by the states of Alabama, Arkansas, Florida, Georgia, Missouri, North Dakota, and Ohio. Hall was willing to allow the temporary restraining order to expire, and this was based on his belief that the Southern District of Georgia order “failed to show an injury that is concrete, particularized, actual, or imminent.” “Without standing, the Court finds it proper to dismiss Georgia as a party to the suit for lack of subject matter jurisdiction and turns to Defendants’ arguments related to venue,” he...
Students and borrowers waiting on President Joe Biden’s student loan forgiveness plan may soon breathe a sigh of relief. According to NBC News, the president’s plan can move forward after a judge ruled Wednesday, Oct. 2, 2024, for a temporary restraining order against it to expire. U.S. District Judge Randall Hall, in his order from the Southern District of Georgia, said Georgia lacked standing to challenge the plan because it did not demonstrate any “concrete” or “imminent” injury. “Without standing, the Court finds it proper to dismiss Georgia as a party to the suit for lack of subject matter jurisdiction and turns to Defendants’ arguments related to venue,” he wrote, per NBC. Hall also concurred with the federal government’s stance that the venue was improper, stating that a plaintiff without standing cannot create a venue where it wouldn’t otherwise exist. He determined that the “most equitable result” would be to transfer the case to a district with the proper venue,...
North Carolina’s Fayetteville State University has landed a whopping donation set to support its students further. WTVD-11 reports that the HBCU received an anonymous donation of $750,000. The donation will aid Fayetteville State University’s free summer school called 30/60/90. The outlet details that the summer school program works to assist students with decreasing their student debt. What’s more, it focuses on students earning their degrees early. According to the summer school program’s website, the scholarship covers two courses or up to seven credit hours for undergraduate students, one course or up to three credit hours for graduate and doctoral students in the College of Education, book rental fees, other fees, and on-campus housing and meals. “The financial aid, they help me,” Deborah Cathcart, a rising sophomore student at Fayetteville State University, said per WTVD-11. She continued, “It helps me so much…this school, they introduce such an easy and just a practical way...
Far before Nia Long could fathom becoming a mother, she was putting in work to ensure that her future children would be able to live out their collegiate dreams. An actress best known for starring in cult classics like “Soul Food,” “The Best Man,” and “Love Jones,” Long is the mother of two sons, 23-year-old Massai Z. Dorsey II and 12-year-old Kez Sunday Udoka. During a fireside conversation hosted by Ally Financial during the 2024 American Black Film Festival, Long opened up about her journey to motherhood and how smart financial savings helped her put her eldest son through college without the help of any loans. At one point during the panel, “Money and Mindfulness: A Conversation with Nia Long,” the actress was asked what her values regarding her finances are. “One of the things is [that] I started saving for my children before I became a mother,” she recalled. “I took $3,000 and I just put [it] in this account. I was like, ‘I’m never touching that.’ And it allowed me to get my...
President Biden’s student loan forgiveness plan is back in the news — mostly because of how confusing it all seems to be. When AfroTech originally reported on the President’s plan, there was some intimation that it may favor higher-income parties. “Despite the $125,000 income cap, research shows the White House plan still slightly favors higher-income Americans: Analysis of a $10,000 blanket relief program published Tuesday by the Penn Wharton Budget Model found 69.79% of overall debt forgiveness would go to the top 60% of Americans by income, while individuals who make between $82,400 and $141,096—placing them between the 60th and 80th percentile—would receive the greatest share of overall forgiveness, at 28.1%, though the additional relief for Pell grant recipients should bring further benefit to lower-income borrowers,” read our report, according to a Forbes article about the matter. But, the reality of the student loan forgiveness plan is a lot more complicated than originally...
Five NAACP students will be leaving college debt-free, thanks to Pharell Williams. The iconic record producer and philanthropist kicked off his Something In the Water Festival in Washington D.C. on Friday, June 17. Just hours before the musical event began, Williams surprised the student leaders with the groundbreaking news during a panel pertaining to the Black student debt crisis at the St. Regis hotel in D.C, ABC 7 News reports. “For all of you on the stage, we are clearing your current student loan debt,” said a moderator during the event. Breaking: #SomethingInTheWater just announced they’re paying the student debt of all 6 panelists/NAACP members! #CancelStudentDebt pic.twitter.com/BqBS9AqIoc — NAACP (@NAACP) June 17, 2022
A surprise act of kindness has made Wiley College’s graduation day even brighter. On May 7, the historically Black college’s class of 2022 received the news that their remaining balances were paid off by an anonymous donor, according to a press release. For the college’s 133rd Commencement Convocation, the donation was announced to over 100 graduates by President & CEO Herman J. Felton, Jr. J.D., Ph.D. “You are debt-free. You do not owe the college a penny. If you have a balance, you had a balance,” Felton said in a video tweeted by Wiley College. Congratulations 2022 Graduates, YOU ARE DEBT FREE! Go Forth Inspired, glorious deeds to do. 🥹🙌🏾 #wileygrad22 #wileycollege #hbcu #hbcugrad #hbcupride #goforthinspired pic.twitter.com/a0zHUDTFc4 — Wiley College (@WileyCollege) May 7, 2022 Per the press release, the donor cleared an estimated total balance of $300,000. With the gift, the graduating class has been provided the freedom to focus on their future careers instead of student debt....
Although President Joe Biden announced an extension to pause federal student loan payments through August 31, current students at Hampton University are getting additional relief toward their college expenses. In a recent announcement , Hampton University President, Dr. William R. Harvey, announced that the HBCU will not increase tuition, student fees, or room and board for the upcoming academic year. Additionally, any outstanding student balances for the Spring 2022 semester will be erased. “In keeping with the University’s efforts to help our students, there will be no increase in tuition, fees, room and board for the 2022-2023 academic year,” said Dr. Harvey. “In addition, on behalf of the University, I am pleased to announce that all outstanding balances for the Spring 2022 semester will be erased. We hope that this action will continue to assist our students and their families at our Home by the Sea.” Officials from the Virginia-based institution, say the move to offer...
The world is waiting on you to get it done, Joe! A recurring question for current President Joe Biden is when he plans to fulfill his promises of forgiving the student debt impacting thousands of Americans. That question might have been answered according to reports from Complex that a host of borrowers could be eligible for a new program that would significantly slash or eliminate the debt. The move is possible through the Public Service Loan Forgiveness (PSLF) program which was launched 15 years ago to help borrowers working in public servant-facing positions which include education, health care, emergency services, and others. Eligible borrowers will be credited for up to 10 years of monthly payments.
Joe wants folks to know that he’s out here doing it! According to Complex, the Joe Biden administration has managed to cancel a total of $15 billion in student loan debt since taking office in 2021. A press release from the Department of Education also confirmed that more than 675,000 borrowers have come out on the winning end of his student loan forgiveness program. The news comes on the heels of President Biden’s move to extend the pause on student loan debt payments until May of this year. “Given these considerations, today my Administration is extending the pause on federal student loan repayments for an additional 90 days – through May 1. 2022 – as we manage the ongoing pandemic and further strengthen our economic recovery, ” he wrote. “Meanwhile, the Department of Education will continue working with borrowers to ensure they have the support they need to transition smoothly back into repayment and advance economic stability for their own households and for our nation.”