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Deadline Approaching for Student Loan Forgiveness Applications

Newark, NJ – As April comes to a close, many student loan borrowers are facing an important deadline that could affect their financial future. The deadline to apply for loan forgiveness is quickly approaching, and those who wish to take advantage of this opportunity must act fast. For some borrowers in New Jersey, this deadline is just days away, making it crucial for them to consolidate their loans before time runs out. The process of …

Social Security Risk: Lawmakers Urge Action on Student Loan Default Among Older Americans

Boston, Massachusetts – Democratic lawmakers are urging President Joe Biden’s administration to take action to prevent millions of older Americans from potentially losing some of their Social Security benefits due to defaulting on their student loan payments. Senators Elizabeth Warren and Ron Wyden are among those calling for a change to protect individuals aged 65 and older who are struggling with over $125 billion in student loan debt. According to a report by the think …

Lawsuit filed by Republican states to block Biden’s student loan repayment plan

Topeka, Kansas – Republican-led states are at the center of a new legal battle aimed at stalling President Biden’s plan to address student loan repayment. Kansas Attorney General is leading the charge, filing a lawsuit challenging the forgiveness program. This move highlights the ongoing political divide over how to tackle the issue of student debt in the country. The lawsuit seeks to block Biden’s initiative, arguing that the repayment plan is not in the best …

Retirement at Risk: Social Security Benefits Threatened by Student Loan Debt

Boston, Massachusetts – Democratic lawmakers are raising concerns over the impact of student loan debt on older Americans’ Social Security benefits. A recent letter from Sen. Elizabeth Warren of Massachusetts and Sen. Ron Wyden of Oregon to the Biden administration warned that millions of older adults could see a reduction in their Social Security benefits due to delinquent student loans. The lawmakers highlighted that borrowers in collections could face an average annual reduction of $2,500 …

Seniors Facing Social Security Cuts Due to Student Loan Defaults: Urgent Call for Change

San Francisco, California – A growing number of seniors in the United States are facing reductions in their Social Security benefits due to defaulted student loan payments. This issue particularly impacts seniors who heavily rely on Social Security as their primary source of income. The population of Americans aged 60 and older carrying student debt has significantly increased in recent years, with the total debt surpassing $125 billion. Consequently, more Social Security beneficiaries are now …

Cyberattack Forces Change Healthcare to Offer Temporary Loan Program for Health Care Providers

Hastings on Hudson, New York – Change Healthcare, a major health insurance IT company, has recently been the target of a disruptive cyberattack that has caused financial distress for numerous healthcare providers. As a response to this crisis, the company has introduced a temporary loan program aimed at assisting those affected by the outage in getting their finances back on track. Analysts estimate that healthcare providers are losing millions of dollars per day due to …

Employer Match for Student Loan Repayments Offers Game-Changing Opportunity for Black Women’s Retirement Plans

Arlington, VA – Starting this year, a new policy allows employers to match employees’ student loan repayments as 401(k) contributions, a change experts believe could have a significant impact on individuals struggling with student loan debt, particularly Black women. This policy, enacted under Section 110 of the SECURE Act 2.0, allows an employer to make matching contributions with respect to ‘qualified student loan payments’ under a 401(k) plan, 403(b) plan, or SIMPLE IRA. The policy …

Employers Hesitate to Offer 401(k) Matches for Student Loan Payments Despite New SECURE Act 2.0

New York, NY – Employers in the United States are hesitant to offer a new perk that would help workers pay down student loans while saving for retirement, despite a law that makes it easier for companies to do so, experts say. The SECURE Act 2.0 Act, which became law in December 2022, included a provision allowing employers to count student loan payments toward matching 401(k) or other retirement contributions for the first time this …

Secure 2.0 Act Allows Employers to Match Student Loan Payments with 401(k) Contributions

Chicago, IL – The new Secure 2.0 Act has brought about a significant change in employer benefits for their employees in terms of tackling student loan debt and saving for retirement. This act, which took effect this year, allows employers to match their workers’ student loan payments with a contribution to their 401(k), 403(b) or other retirement accounts. This marks a shift in the approach to employee benefits, aiming to alleviate the burden of student …