Articles by Abigail Johnson Hess
cnbc.com Jan 19, 2022
California program will pay college kids $10,000 for a year of volunteer work—and it could be 'replicated across the nation'
Abigail Johnson HessOn Tuesday, California Governor Gavin Newsom announced the expansion of a pilot program that will cover $10,000 of tuition costs at 45 California colleges and universities for students who do 450 hours of community service. The "Californians For All College Corps" will cover college costs for 6,500 . . .
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cnbc.com Jan 13, 2022
Navient will cancel $1.7 billion in student loans—here's when borrowers will see relief
Abigail Johnson HessOn Thursday, Pennsylvania Attorney General Josh Shapiro announced that Navient, the country's largest student loan servicer, will pay $1.85 billion to resolve allegations of "widespread unfair, deceptive, and abusive student loan servicing practices and abuses in originating predatory student loans. . . .
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cnbc.com Jan 11, 2022
Lawsuit claims 16 top colleges overcharged over 170,000 students by ‘hundreds of millions of dollars’
Abigail Johnson HessOn Sunday, a lawsuit was filed in Illinois federal court against 16 prestigious universities on behalf of five former college students who believe the schools overcharged more than 170,000 financial aid recipients by "at least hundreds of millions of dollars." Some of the country's most exclusive un . . .
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cnbc.com Jan 06, 2022
'All work produces value': What experts say Eric Adams gets wrong about 'low skill' workers
Abigail Johnson HessThe statement caused backlash from workers, politicians and experts alike who disagreed with Adams' characterization of workers' skill levels. "No such thing as a 'low skill worker,'" tweeted New York City Council Member, Tiffany Cabán. Elise Gould, senior economist at the Economic Policy Institute, . . .
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cnbc.com Dec 22, 2021
Biden Administration extends the student loan pause through May 1—but advocates call for all student debt to be canceled
Abigail Johnson HessToday, the U.S. Department of Education announced a 90-day extension of the pause on student loan repayment, interest and collections through May 1, 2022. But many of those who called for the moratorium to be extended said pausing student loan payments is not enough — they should be canceled. "For a . . .
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cnbc.com Dec 22, 2021
Why some experts say Biden should extend the federal student loan pause: 'The government does just fine without our money'
Abigail Johnson HessThe federal student loan pause could soon come to an end. Since March 2020, payments on federal student loans have been paused and the federal student loan interest rate has been set to 0%. But a recent survey of 33,703 student loan borrowers by the nonprofit Student Debt Crisis Center found that ev . . .
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cnbc.com Dec 15, 2021
Biden appears unlikely to extend the student loan pause—here's how borrowers can prepare right now
Abigail Johnson HessSince March 27, 2020, payments on federal student loan payments have been paused and the federal student loan interest rate has been set to 0%. This student loan moratorium is currently set to expire Jan. 31 2022 and payments are set to resume Feb 1. On Dec 11, White House Press Secretary Jen Psaki . . .
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cnbc.com Dec 14, 2021
Millions of jobs qualify for public service loan forgiveness—here’s how to know if yours does
Abigail Johnson HessIn October, the U.S. Department of Education announced a series of changes to the Public Service Loan Forgiveness Program, which is designed to give student debt relief to borrowers who work in public service. In the past, the PSLF has been criticized for failing to live up to its name and purpose. . . .
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cnbc.com Dec 10, 2021
Just 50% of the college Class of 2020 had traditional full-time jobs 6 months after graduation
Abigail Johnson HessThe college class of 2020 entered one of the most hostile labor markets in recent history. By many measures, college graduates fared best during this period, but as time passes, research is capturing just how difficult conditions are for young workers. In comparison, 55.3% of the class of 2019 gradu . . .
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cnbc.com Nov 30, 2021
On the job: What it takes to earn $100k as a solar panel installer in New Jersey
Abigail Johnson HessToday, Gass lives in Linden, New Jersey and earns roughly $100,000 per year as a solar panel installer — a job he has no plans of leaving. After high school, Gass tried college and dealt with mental health challenges that ultimately culminated in a conflict with law enforcement and spending time in . . .
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