Tag: loan
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Small Business Administration disaster loan program exhausts funds after Hurricane Helene
WASHINGTON — The Small Business Administration said on Tuesday it has exhausted funds for its disaster loan program following increased demand from Hurricane Helene, with Congress being in recess. “Until Congress appropriates additional funds, the SBA is pausing new loan offers for its direct, low-interest, long-term loans to disaster survivors,” the SBA said in a statement.…
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Biden’s student loan forgiveness plan can take effect after judge lets restraining order expire
President Joe Biden’s student loan forgiveness program can take effect after a judge ruled Wednesday that he would let a temporary restraining order on the plan expire. It’s a minor victory for the Biden administration just weeks ahead of the presidential election. The lawsuit was brought by seven red-leaning states: Missouri, Georgia, Alabama, Arkansas, Florida,…
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Education Dept. extends deadline for defaulted student loan borrowers to get current
The U.S. Department of Education has extended the deadline for its Fresh Start program for defaulted student loan borrowers until Wednesday morning, according to an agency spokesperson. Borrowers who apply for the limited opportunity will be returned to good standing on their loans, and able to avoid the impact of delinquency and default. The original deadline…
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Michigan nuclear plant finalizes federal loan to support first reactor restart in U.S. history
The Palisades nuclear plant in Michigan has closed a $1.5 billion loan to support the first reactor restart in U.S. history, the Department of Energy announced Monday. Palisades’ owner, Holtec International, hopes to restart the plant in the fourth quarter of 2025, subject to approval by the U.S. Nuclear Regulatory Commission. Holtec is a privately held nuclear…