![A gavel rests on a wooden table. Out of focus in the background are the scales of justice.](https://www.bankrate.com/2022/11/17134438/Federal-judge-approves-Borrower-Defense-to-Repayment-.jpeg?auto=webp&fit=crop&width=230&height=150)
Federal judge signs off on student loan cancellation for 200,000 borrowers
The verdict approves loan forgiveness fo 200,000 defrauded and misled students.
You have a world of options at your fingertips when it comes to paying down your loans. Knowing what they are is the key to becoming debt-free.
— Hanneh Bareham
Hanneh Bareham, a Certified Financial Education Instructor℠, has been a personal finance writer with Bankrate since 2020. She started as a credit cards reporter before transitioning into the role of student loans reporter. She is now a writer on the loans team, further widening her scope across multiple forms of consumer lending.
She has been featured in multiple national and regional media outlets, including Yahoo, CNBC, Business Insider, The Chicago Tribune, The Seattle Times and more. Her desire to empower borrowers comes from her own experiences as a college graduate managing her finances during a tumultuous economic climate. She aims to help others reach their goals through a better understanding of macroeconomic trends.
When she's not checking her repayment strategies with a loan calculator, Hanneh enjoys acting, baking and trying to find the best cup of coffee on the East Coast.
When it comes to taking out any sort of installment loan or repayment plan, it's so important to know exactly what you're signing up for. Before applying, read the terms and conditions or find the basic loan details — like interest rate ranges and repayment terms — on the lender's website to make sure you're doing what's best for your finances.
You have a world of options at your fingertips when it comes to paying down your loans. Knowing what they are is the key to becoming debt-free.
— Hanneh Bareham
The verdict approves loan forgiveness fo 200,000 defrauded and misled students.
Low-income households are shouldering the most student debt. Why?
New changes will bring many PSLF and IDR-eligible borrowers closer to forgiveness.
With the right strategy, paying down credit card debt is more than possible.
Former students of ITT Tech, DeVry and Kaplan may receive loan relief.
The servicer often provided false information to borrowers asking about forgiveness.
Biden appears to be favoring a simpler approach to making higher education cheaper.
The legislation pays tuition for New Mexico residents attending in-state schools.