“This landmark agreement demonstrates what can be done when everyone works together to advance high quality public education and invest in our greatest resource—our children…”
A June report from The Century Foundation found that without additional money, about 70,000 child care programs would probably have to shut down after this month.
The new income-driven repayment plan calculates payments based on a borrower’s income and family size and forgives balances after a set number of years. The Department of Education has estimated that most borrowers will save about $1,000 per year under the new plan.
Nearly half of all borrowers say they aren’t financially prepared to begin repaying their debt. Despite this, interest began accruing again on Sept. 1, and payments will be due again in October.
Safekey is a before and after school program offered for students attending school in the Clark County School District.
Lawmakers rejected the governor’s emergency request, and blamed the program’s alleged funding shortfall on one of the nonprofits tasked with administering the private school scholarship program.
A recent analysis found that unless Congress provides additional funding, an estimated 10,870 children in Nevada are expected to lose their child care beginning Sept. 30, due to the projected closure of 203 child care programs.
The plan will erase debt for borrowers who have been paying down their debt for at least 20 years. For many borrowers, qualifying monthly payments that should have moved them closer to forgiveness were not accounted for, effectively forcing them to make extra payments under their IDR plans.
The proposal from a group of 176 House Republicans would raise the retirement age for Social Security and Medicare and ban free school meals for students.