KEY TAKEAWAYS Federal student loan borrowers can get some relief from payments if they live in areas where the Southern California wildfires caused up to $275 billion in damages and economic loss. Residents of one of the Federal Emergency Management Agency (FEMA)- designated areas can request a three-month forbearance from their loan servicer. This pause

KEY TAKEAWAYS Before being elected, President Joe Biden promised broad student loan forgiveness and more generous repayment plans. However, he only accomplished some of his proposals. The Supreme Court blocked Biden’s initial student loan forgiveness plan, and legal challenges are still preventing his more generous income-driven repayment plan from being implemented. Under various other initiatives

Published January 17, 2025 05:02 PM EST Investopedia / Photo Illustration by Alice Morgan / Getty Images KEY TAKEAWAYS Joe Biden’s administration oversaw several rounds of student loan forgiveness, totaling $188.8 billion for 5.3 million borrowers. The Biden administration granted loan forgiveness and discharges to borrowers in income-driven repayment plans, the Public Service Loan Forgiveness