Wednesday, October 27, 2021

Loans Online – AG Kaul urges federal government to further student loan relief for borrowers

MADISON, Wis. (WMTV) – Attorney General Josh Kaul, along with a coalition of other attorneys general, are urging the federal government to consider policies to help struggling student loan borrowers.

The coalition sent a letter to U.S. Secretary of Education Dr. Miguel Cardona on Wednesday, asking him to ease the process for borrowers to pay back student loans and protect those paying back debt to for-profit and defunct schools.

“Folks shouldn’t have to choose between lifelong debt and pursuing their education, and they certainly shouldn’t be stuck with debt incurred due to inflated or deceptive marketing claims made by predatory for-profit colleges,” said Attorney General Kaul in a statement.

Among the policies the attorneys general ask Cardona to consider, one includes asking him to continue the policy of suspending student loan payments and waiving interest for as long as it is necessary to support these borrowers.

The group also asks Cardona to continue the suspension of involuntary collection agencies, including the authorization of suspended payments to count toward both Public Service loan Forgiveness and income-driven repayment plan forgiveness.

Attorney General Kaul and the other attorneys general praised President Biden’s consideration of canceling student loan debt.

The group wrote,” “…we strongly urge that any debt cancellation should apply to all federal loans – including Federal Family Education Loans and Perkins loans that are not owned by the Department… For many with student debt, the current system is highly complex and difficult to manage.”

Kaul was joined in sending the letter with 22 additional attorneys general, including those of Illinois, Minnesota and Iowa.

Copyright 2021 WMTV. All rights reserved.

Loans Online – AG Kaul urges federal government to further student loan relief for borrowers


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