Latest news with #federalaid
Bloomberg
28-05-2025
- Business
- Bloomberg
NYC Transit Upgrade Hinges on $17 Billion of Uncertain Funds
New York City's transit system is counting on a combined $17 billion in federal aid and projected cost savings — both tentative sources — to help fund a record-setting $68.4 billion capital plan. The Metropolitan Transportation Authority 's multi-year program is the largest in its history. It will pay for about 2,000 new rail cars to replace trains from the 1980s, modernize signal systems, upgrade aging power substations, repair bridges and tunnels and launch a new light-rail line linking Queens and Brooklyn.
CBS News
16-05-2025
- Politics
- CBS News
Rep. Lauren Boebert requests $5M in federal aid to fix water in eastern Colorado community
Colorado Congresswoman Lauren Boebert is requesting $5 million in federal aid to clean up the water in Wiggins. The request is part of her request focusing on water and infrastructure projects that impact the 21 counties in her district. Boebert is a Republican representing Colorado's 4th Congressional District, which includes the community in the Prairie View Ranch Water District. Prairie View Ranch in Morgan County CBS "Constituents across every part of the 4th District have made it clear when I speak with them about their priorities: they want reliable access to clean water and they want their roads fixed," said Boebert. "These projects will have a direct impact on Coloradans' quality of life and will be a huge benefit to the communities who are in desperate need of support. I will be fighting tirelessly to have each of these projects included in a final Appropriations bill for Fiscal Year 2026 and make sure our taxpayer dollars come back to the 4th District for substantive, important investments." The water contains a sludge that makes it unsafe to drink or use for people living in that community, even though they pay $200 a month for water. CBS News Colorado's Shaun Boyd has previously reported that certified lab results show the sludge is filled with radioactive lead and uranium. Other projects on Boebert's list include the construction of a pipeline connecting Plum Creek to Rueter-Hess Reservoir in Douglas County and road and safety improvements to the U.S. 34 and U.S. 287 intersection in Loveland.
Bloomberg
09-05-2025
- Business
- Bloomberg
Boston Economy Challenged by White House Policies, Moody's Says
Boston's strong financial position will be tested in the coming years as President Donald Trump threatens to strip federal aid from the city's key sectors. 'The credit negative impacts of federal policies around tariffs, immigration and cuts in National Institutes of Health funding and other federal support for research and education could result in rising unemployment, a negative economic growth rate and demographic shifts,' analysts at Moody's Ratings said in a report ahead of a planned $464 million municipal bond sale. Moody's gave the new debt a Aaa rating, the highest possible.
Forbes
06-05-2025
- Business
- Forbes
8 Groups That Could Lose Big Amid Student Loan Forgiveness And Repayment Overhaul
WASHINGTON, DC - MARCH 20: Speaker of the House Mike Johnson (R-LA) speaks during a news conference ... More following a closed-door caucus meeting at the U.S. Capitol Visitors Center on March 20, 2024 in Washington, DC. Congressional leaders announced Tuesday they had reached a deal on a FY2024 spending package that includes budgets for about three-quarters of all federal discretionary spending, including Defense, Homeland Security, Labor-Health and Human Services, and other bills. Without a deal, the federal government would be facing a partial shutdown at midnight on Friday. (Photo by) Getty Images House Republicans have introduced a broad-based student loan and higher education reform bill that would transform student loan forgiveness and repayment, eliminate key borrower protections, and reshape access to federal financial aid. The proposal, aimed at offsetting extended tax cuts, would cut an estimated $330 billion in education spending and mark the most significant rewrite of student loan policy in decades. While the plan promises savings for taxpayers and simplicity for new borrowers, it could come at a cost to others. In a previous Forbes post, I highlighted seven groups that could win big if the bill is enacted. Here are eight groups that stand to lose the most. Forbes Repayment Assistance Plan Explained: Huge Update For 40 Million Borrowers On Republican Student Loan Plan By Shahar Ziv 1) Low-Income Students Receiving Pell Grants The bill raises the course load required for a full Pell Grant from 12 to 15 credits per semester. Students taking only 12 credits would see their maximum Pell Grant shrink by $1,479, reducing the award to $5,916. In addition, students enrolled in fewer than six credits—often working adults or part-time learners—would no longer qualify for any Pell aid at all. These tighter eligibility rules could increase unmet financial need for low-income students and potentially push college out of reach. 2) Undergraduate Borrowers with Financial Need The proposal eliminates subsidized student loans for undergraduates, ending interest-free borrowing while in school for future students. Currently, financially needy students benefit from subsidized Stafford loans that don't accrue interest until after graduation. Removing this benefit means future borrowers will begin accumulating interest from day one, increasing total debt and making repayment more burdensome. 3) Graduate and Professional Students Needing Large Loans The bill terminates the Grad PLUS loan program and introduces aggregate loan caps: $100,000 for master's degrees and $150,000 for professional or doctoral programs. Many high-cost programs, especially in medicine and law, exceed these limits, forcing students to turn to riskier private loans or pay out of pocket. The plan also eliminates subsidized undergraduate loans for these borrowers, meaning no interest relief on any federal student debt. 4) Parents Who Rely on Parent PLUS Loans Under the proposal, Parent PLUS loans would be capped at $50,000 per student, and only available after the student has maxed out their own loan eligibility. Many middle- and lower-income families, including a disproportionate number of Black households, use Parent PLUS to fill tuition gaps. With the new cap, some families may fall short of covering college costs, potentially forcing difficult choices around enrollment, borrowing, or cost-cutting. 5) Student Loan Borrowers Counting on Student Loan Forgiveness The plan would replace existing income-driven repayment plans with a new Repayment Assistance Plan that extends the forgiveness timeline to 30 years or 360 payments. Current IDR options offer forgiveness after 20 or 25 years and, in some cases, only 10 years. The proposal also eliminates the $0 payment tier: even the lowest-income borrowers must pay at least $10 per month. These changes shift the promise of student loan forgiveness further out of reach, especially for borrowers with modest incomes. 6) Medical and Dental Graduates Seeking Public Service Loan Forgiveness The bill would end the practice of counting payments made during medical and dental residencies toward Public Service Loan Forgiveness for new borrowers starting after July 1, 2025. Though the plan offers interest-free deferment during residency, those years would no longer count toward the 10-year PSLF timeline. For many early-career doctors and dentists, this change would delay forgiveness by three to seven years and could dissuade some from working in nonprofit or public health settings. Forbes Massive Changes Proposed By House GOP Student Loan Repayment Plan Overhaul By Shahar Ziv Shrinking Repayment Protections For Vulnerable Borrowers 7) Student Loan Borrowers Facing Hardship or Unemployment The proposal eliminates economic hardship and unemployment deferments for loans issued after July 2026. Instead, struggling borrowers would be directed to the income-based plan and required to make minimum payments of $10, regardless of employment status. The bill also limits discretionary forbearances to nine months within any 24-month period. For borrowers in financial crisis, the lack of flexible options to pause payments could lead to faster delinquency and default. 8) Defrauded Students and Borrowers of Closed Schools The bill repeals borrower defense and closed-school discharge regulations enacted under the Biden administration. These rules currently allow students to seek loan forgiveness if they were defrauded by their school or if their institution shuts down. Eliminating these protections raises the bar for relief and could leave students stuck with debt for worthless credits. Without gainful employment rules or borrower defense, critics warn the door is reopened for predatory practices by low-quality institutions. What The Student Loan Forgiveness And Repayment Overhaul Means For Borrowers These changes, if enacted, would create a dramatically different landscape for future student loan borrowers. While the plan may streamline repayment and lower federal costs, the tradeoffs are steep for those relying on protections, access, and forgiveness to make college affordable. While there are certainly winners, there are also many groups that will lose big if the Republican student loan forgiveness and repayment overhaul is enacted.
