Biden says student borrowers with smaller loans could get debt forgiveness in February. Here's who qualifies.
CBSN
Some student borrowers could see their debt completely forgiven next month.
Starting in February, people who took out less than $12,000 in loans and have been in repayment for 10 years will get their remaining loan balance "canceled immediately," President Joe Biden said in a Friday statement. The borrowers also must be enrolled in the Biden administration's new Saving on a Valuable Education repayment plan, also called the SAVE plan.
Friday's announcement is part of a push from the Biden administration to provide debt relief after the Supreme Court last year blocked its broad-based student loan forgiveness plan, which would have erased $20,000 in loans for about 40 million borrowers. Since then, the Education Department has been focusing on other paths to reduce the financial strain of student loans, such as the SAVE plan, which links repayments to income and, in some cases, can lower monthly payments to $0.
This story previously aired on Sept. 15, 2018. News report: Today, in a 5-1 decision, the California State Supreme Court ruled that Rodney Alcala did not receive a fair trial. Juror: We, the jury, find the defendant, Rodney James Alcala, guilty of the crime of murder in the first degree. Victim Robin C. Samsoe… "I wanna kill, I wanna kill, I wanna see blood and gore and guts and veins in my teeth. Eat dead burnt bodies. I mean, kill, kill, kill, kill." Jury member [in court]: We, the jury … determine that the penalty to be imposed upon defendant, Rodney James Alcala, to be death. D.A. Cyrus Vance to reporters: For both families, who had lost all hope that these cases would ever be solved, the pleas by Rodney Alcala, and today's sentencing brings closure to painful chapters in their lives.
A new law aims to strengthen reporting requirements for technology companies to combat online predators seeking to exploit children. One dad told CBS News that he hopes the law will save children like his son, who died by suicide after becoming ensnared in a "sextortion" scheme when he was 17 years old.