After Biden Cancels $1 Billion In Student Loans, 3 Potential Next Steps For Student Loan Forgiveness

Ruben Onsu

Last week, the Biden administration announced a reinterpretation of a federal student loan cancellation program that will result in $1 billion in student loan forgiveness.

The student debt relief will be provided under the Borrower Defense to Repayment program

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WPRU taken to court over R112 million loan – report

Ruben Onsu

Western Province Rugby Union’s (WPRU’s) soured Flyt deal took a turn for the worse when the property company’s subsidiary, Dream World Investments, filed court papers to recover R112 million loaned to the union.

According to rugby365.com, Dream World filed formal papers at the Western Cape High Court last Friday to claim back the R112 million it lent WPRU, who used the loan to pay off monies owed to  previous equity partners Remgro and Investec.

Flyt CEO Zane de Decker told the website that they were claiming back the original loan amount from Western Province (R112 million), interest on the loan

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The Best Personal Loans for Bad Credit of 2021

Ruben Onsu

CNBC Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We may receive a commission when you click on links for products from our affiliate partners.

Getting a loan when you have bad credit or no credit history can be tough. Like most financial products, borrowers have to submit an application listing their income information and agree to a credit check before getting approved for a loan. Lenders prefer to work with customers who have a proven track record of paying their bills on time and earning enough money to

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Things to watch out for when taking loan against property

Ruben Onsu

Businesspersons commonly use loan against property to meet their cash flow requirement. Mortgaging an asset like property helps them raise a big loan at lower rates. Some salaried individuals use this product to meet large expenses such as children’s wedding or their education.

It is a secured loan that lenders give against residential or commercial property. They include a house, office, or a shop. The borrower should be the property owner, and the title should be clear.

Lenders do evaluate your creditworthiness before giving a loan against property.

Most lenders, typically, give a loan equal to 50% of the property

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Many Hope for More Student Loan Forgiveness

Ruben Onsu

With stimulus payments on the way to Americans, many with student loan debt are still anxious about relief.


What You Need To Know

  • Loan forgiveness is not in the new stimulus package
  • Democrats pushing for president to cancel some student loan debt
  • They say he could cancel up to $50,000 per borrower

Loan forgiveness is not in the new stimulus package but many are still hopeful they will get some relief soon.

Many Democrats in Congress, including Senate Majority leader Chuck Schumer, are pushing for President Joe Biden to cancel some student loan debt.

They say he could cancel up

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A Year Without Student-Loan Payments

Ruben Onsu

For the more than 42 million borrowers with federal student loans, the Covid-19 pandemic brought unexpected relief: a break from payments. The pause on interest accumulation alone has saved borrowers roughly $4.8 billion a month, according to the Education Department.

Last March the department put most federal student-loan payments on hold and set interest rates to zero. One year and three stimulus bills later, the Biden administration extended the payment suspension and interest waiver until Sept. 30.

As a result, close to 20 million borrowers currently have their loans in forbearance, according to Mark Kantrowitz, author of “How to

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