Student loan debt

The company's stock price has jumped 23% since the election, as investors bet that federal student loans will get curtailed, providing more opportunity for the private sector.

Analysts have been debating the impact on household finances and the economy as Americans resume student loan payments. There's already a squeeze from higher interest rates, which are expected to slow consumer spending and economic growth.

The U.S. Department of Education agreed to erase nearly $6 billion in student loans for borrowers who filed a class action lawsuit against the government after attending for-profit colleges that were found to have misled students.

The Biden administration’s continued extension of a student loan payment moratorium and the uncertain future of a debt forgiveness plan are causing confusion and uncertainty.

President Biden is considering forgiving $10,000 in student loans per borrower, but eliminating interest on the debt could be a more effective way to reduce the financial burden, according to experts.

The Congressional Black Caucus is requesting a meeting with President Biden to press the case that canceling student-loan debt is a racial equality issue.

Senate Majority Leader Chuck Schumer and fellow Democrats Elizabeth Warren and Raphael Warnock support $50,000 in student debt relief, which is five times what the president has indicated he would support. 

The pending budget reconciliation legislation should retain measures meant to support minority homebuyers.

The U.S. Department of Education approved about $6.8 billion in student debt relief for more than 113,000 borrowers through adjustments to its Public Service Loan Forgiveness Program.

The U.S. economic recovery could take a major hit if the Biden administration fails to extend the federal government’s pandemic moratorium on student-loan payments past September, Senate Majority Leader Chuck Schumer said.