... [+]The U.S. Department of Education released new policy guidance today that will allow colleges and universities to use stimulus funds for a variety of student needs, including cancelling student debt in certain cases.
The Department’s expanded guidance allows educational institutions to use stimulus funding from the Higher Education Emergency Relief Fund grant program to support college students in a variety of new ways. According to a Department, this includes “financial aid grants to dual enrollment, continuing education, non-degree seeking, or non-credit students, as well as to a broad range of students with exceptional needs, such as certain refugees or persons granted asylum.
"Many students have had their postsecondary careers turned upside down as they manage their schoolwork while also protecting themselves from this virus," said Secretary of Education Miguel Cardona."We hope every eligible student takes advantage of these benefits while continuing to focus on their studies."
The scope of student debt cancellation related to this guidance would be limited to institutional debts — student debts or unpaid bills owed directly to the college or university. It would not apply to student debts owed to other entities, such as federal student loans owed to the Department of Education, or to private student loans owed to commercial lending entities.
Nevertheless, institutional student debts can be a major headache for students and borrowers. Institutional student debts are typically ineligible for federal student loan relief and forgiveness programs. And failure to repay these debts can result in serious consequences including academic transcript withholding and inability to transfer credits, complete a degree program, or pursue a secondary degree or enter a graduate program.
That's exciting
🤣🤣🤣🤣 You really think colleges are going to help these kids They been gouging them for the last 20 years. My alma mater has a 300% increase in tuition cost per credit hour.
The money can cancel some debt, but has no way to improve their learning ability.
There goes self responsibility. Maybe students should get an education that actually gives them jobs after college? Not worthless degrees then need baby daddy government to bail them out.
They aren't talking about loans
This is a place where things work just almost perfectly. Can we at least experience this in our country for ones
That wont boost the economy stupid!
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