A debt management plan (DMP) is a way to combine your unsecured debts into a more manageable single monthly bill. You'll typically get reduced interest rates compared to what you're currently paying thanks to negotiation by the agency you're working with.
The Department of Education's failure to properly process discharge applications from vulnerable and sick borrowers is reprehensible. We are simply asking the Department to review their applications on the merits, as is their right.
"My constituents are saving thousands of dollars and they know it. Republicans can and should take credit because the alternative would've been massive tax hikes under the Democrats had they won the 2024 election."
"The historical evidence reveals a striking pattern: government bonds have repeatedly generated substantial real losses during these extreme episodes. They have even underperformed equities and real estates which are traditionally regarded as risky assets."
With roughly nine million student borrowers in default, the Treasury Department will "assume operational responsibility for collecting" on those loans, the Education Department announced Thursday. The move is ED's latest effort to render itself obsolete as part of the Trump administration's plan to eliminate the department. This is the 10th interagency agreement it has signed to share with or spin off functions to other federal agencies.
As the Federal student aid portfolio soars to nearly $1.7 trillion and with nearly a quarter of student loan borrowers in default, Americans know that the Department of Education has failed to effectively manage and deliver these critical programs. By leveraging Treasury's world-renowned expertise in finance and economic policy, we are confident that American students, borrowers, and taxpayers will finally have functioning programs after decades of mismanagement.
Scott Bessent used a Senate appearance to defend President Donald Trump's campaign to slash interest and raise tariffs. Treasury Secretary Scott Bessent has faced questions from the United States Senate about President Donald Trump's ongoing campaign to slash interest rates, despite concerns that such a move could turbo-charge inflation. Bessent appeared on Thursday before the Senate's Financial Stability Oversight Council. There, he received a grilling from Democrats over rising consumer prices and concerns about Trump's attempts to influence the Federal Reserve, the US central bank.
The interchamber tensions between Democrats are becoming a regular feature of funding fights in the second Trump term. Lawmakers, strategists and voters alike exploded in anger last March when Senate Minority Leader Chuck Schumer and a handful of colleagues allowed a spending package to move forward amid the Elon Musk-led DOGE assault on federal agencies. In November, tempers again flared when a handful of Senate Democrats joined with Republicans to end a record 43-day shutdown.
The average American households' share of federal borrowings is now equal to half the median price of their homes, and the figure's rising fast. Right now, teachers, nurses, store owners and IT workers (i.e. average Americans) aren't paying any of the interest on those tens of trillions, since the federal government's simply ramping the IOUs to cover the carrying costs. But that can't go on forever.
Earlier in the day, Democrats blocked a spending bill using a filibuster in order to force the Trump administration into negotiations over its violent deportation campaign in cities across the U.S. The raids have involved DHS agents - most notably from Immigration and Customs Enforcement (ICE) and Customs and Border Patrol (CBP) - terrorizing and abducting residents, with immigration agents killing two people in Minneapolis this month.
