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Lawsuit against student loan giant Navient will test the limits of debt cancellation

A former student at the now-defunct ITT Technical Institute and his mother to sue student loan giant Navient (NAVI) on the company's refusal to cancel its private student loans despite the US government to clear thousands of federal student loans related to the notorious for-profit school.The case could set a precedent for cheated borrowers seeking relief from private loans (as opposed to Federal Government Backed Loans"By filing this case and expanding the discussion about the cancellation of a private student loan, it sends a clear message to Navient and other private lenders that they cannot continue denying students' rights while…

Downing Announces Run for Governor; Supports Student Loan Forgiveness – The Beacon – MCLA

Ben Downing in an undated photo. Downing is the first to compete in next year's race for Massachusetts governor. Former Massachusetts State Senator Ben Downing, who represented the counties of Berkshire, Hampden, Hampshire and Franklin from 2007 to 2016, declared his participation in the 2022 national race on Monday, February 8. The timing of Downing's bid is important as he is the first contender to publicly compete for the governor's seat, as incumbent Republican Governor Charlie Baker has not yet commented on his running for re-election. The Berkshire Eagle reported on Wednesday, February 17, that Downing had raised $ 100,000…

Senate Approves Bill to Lower NM Loan Interest Rate

Senator Bill Soules, D-Las Cruces, answered questions on Tuesday during a session on the Senate floor about his bill to lower the annual interest rate on small loans in New Mexico. The legislation, Senate Bill 66, passed the Senate with a vote of 25-14. (Eddie Moore / Journal)SANTA FE - A renewed effort to cut the interest rate on small loans in New Mexico - from 175% to 36% - goes to the state house after Senate approval on Tuesday.The Senate voted 25-14 to pass the interest rate ceiling, Senate Bill 66, after nearly two hours of sharp debate.Proponents of…

Biden extends student loan break, moratorium on deportations

Borrowers attending the University of Georgia, some of which students attended this Democratic campaign rally last month, will benefit from the executive action. Photo: Joshua L. Jones / Athens Banner-Herald / Associated Press On his first day, President Biden drew a series executive actions, including two that will affect the financial lives of millions of Americans. One directs the education department to extend the pause on federal student loan payments, and the other directs the Centers for Disease Control and Prevention to extend the federal deferral moratorium. Both measures were introduced last year in response to the economic setbacks caused…

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