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President Joe Biden is threatening to veto a House resolution that aims to dismantle his student-debt relief plan, which is currently ensnared in legal challenges.
The Republican-led House Education and the Workforce committee, in a party-line vote, approved a resolution earlier this month to nullify the Biden administration’s plan to allow for a one-time cancellation of as much as $20,000 in student loan debt and to reduce monthly repayments based on income.
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As employees decide whether to stay with their employer, support tied to student loan debt and education benefits is becoming a clear differentiator.
Developing a plan of action can help HR leaders guide workers through this financially trying time.
The Congressional Budget Office estimates that about 750,000 employees will be furloughed at a cost per day of $400 million in lost compensation.
The CEO of Summer and the CHRO at LEARN discussed why offering expert help is a benefit with a big impact at EBN's virtual financial wellness summit.
The government is striving to make student loan forgiveness more efficient, but critics worry it will also make loans less accessible.
