Rich Cordray, the head of Federal Student Aid, said that subsequent student debt relief programs wouldnt rely only on self-reported income from borrowers. | John Minchillo/AP The Biden administration last year quickly moved to provide student debt relief to millions of Americans before it had implemented appropriate safeguards to prevent fraud, according to new findings…
DetailsWhat GAO Found The Department of Education approved borrowers for its student loan debt relief program without implementing key procedures for preventing fraud. The program would have provided up to $20,000 of debt relief to borrowers who met certain income thresholds if they received a Pell Grant in college, and up to $10,000 if they…
DetailsWhen Harry and Jen Appel lost their home in Big Pine Key, Florida, to Hurricane Irma in 2017, they thought their insurance policies would cover the cost to repair and they’d rebuild in the same location. The couple showed ABC News’ meteorologist Rob Marciano the spot where their home used to be, now an empty…
DetailsWASHINGTON, Nov 16 (Reuters) – Marc Allen will step down as Boeing’s (BA.N) chief strategy officer at the end of the year and leave the company in 2024 as the U.S. planemaker pares down its strategy arm. In a letter to employees on Thursday, Boeing CEO David Calhoun said the U.S. planemaker will not fill…
DetailsConsumer Alert Unregulated debt advisors are targeting indebted Canadians with promises of a quick fix, charging unnecessary fees for debt-relief services they are not authorized to provide. November 14, 2023 Ottawa, Ontario The Office of the Superintendent of Bankruptcy (OSB) and the Canadian Association of Insolvency and Restructuring Professionals (CAIRP) want to help Canadians avoid debt-relief…
DetailsWASHINGTON U.S. Senate Republicans on Wednesday night failed to garner enough votes to block a new Biden administration rule on an income-driven repayment plan for federal student loans. The resolution did not pass, 49-50. Sen. Joe Manchin of West Virginia was the sole Democrat who joined Republicans in backing the resolution. Sen. Tim Scott of…
DetailsStudents, teachers, SMEs to get help PUBLISHED : 16 Nov 2023 at 06:32 The government will announce a new debt relief package for several groups, including former students repaying their student loans, teachers and small- and medium-scale business owners, Prime Minister Srettha Thavisin said on Wednesday. The package, also to be made available to those…
DetailsWASHINGTON U.S. Senate Republicans on Wednesday night failed to garner enough votes to block a new Biden administration rule on an income-driven repayment plan for federal student loans. The resolution did not pass, 49-50. Sen. Joe Manchin III of West Virginia was the sole Democrat who joined Republicans in backing the resolution. Sen. Tim Scott…
DetailsWith inflation, rising interest rates, and higher costs for gas, groceries and housing, many Canadians are feeling the financial pinch and now personal bankruptcies are on the rise. “The activity from debt collectors has skyrocketed, so we are getting a lot more calls then we were year ago” said Doug Hoyes, a licensed insolvency trustee…
DetailsEddie King Debt restructuring and debt consolidation represent two vital financial strategies individuals and businesses can use to manage their outstanding liabilities proficiently. These methods often prove invaluable for those individuals or companies grappling with challenging loan repayments or those overwhelmed by numerous debts. A thorough understanding of the key differences between debt restructuring and…
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