While the Education Department has announced a series of measures to ease the transition back into repayment — includingstarting in October, to ensure borrowers who miss payments are not reported to credit agencies — Warren wants the administration to consider additional safeguards following the resumption.
"These concerns are heightened by the disappointing decision of the Supreme Court, which substituted politics for the rule of law and denied President Biden's initial plan to provide up to $20,000 in student debt cancellation for working Americans," she said. Allow borrowers who are approved for income-driven repayment plans while in default to be automatically pulled out of defaultAs Warren wrote in her letter, when a borrower enters default, the Education Department requires them to repay their full outstanding student-loan balance — including principal, interest, and fees.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sen. Elizabeth Warren asks SEC to probe Tesla over Twitter tiesSen. Elizabeth Warren asks the SEC to investigate Tesla over possible conflicts of interest in Twitter ties
Source: BusinessInsider - 🏆 729. / 51 Read more »