When President Joe Biden’s plan to erase up to $20,000 in federal student loans for 43 million borrowers was struck down by the Supreme Court, the hope for significant debt relief seemed lost. However, millions of borrowers were recently surprised when they received notices that their federal student loans were being eliminated through other government …
Student Loan Repayment Date is Here, Resuming After 3-Year Hiatus Student loan repayment requirements are set to resume this month, but many borrowers are facing customer service issues with their loan servicers. The resulting chaos has caught the attention of 19 state attorneys general, who argue that borrowers should not be required to repay their …
Millions of Americans with student loans will need to resume payments starting October 1, even in the case of a U.S. government shutdown that could start that same day, according to Education Department officials. House Speaker Kevin McCarthy is running out of time to pass spending measures by Saturday night when the federal fiscal year draws …
The Biden administration’s recent student loan repayment initiative has garnered enrollment from a staggering 4 million individuals within just two weeks of its launch in late July, according to officials from the Education Department. This groundbreaking plan, known as the Saving on a Valuable Education (SAVE) plan, has the potential to substantially reduce monthly repayment …
Approximately 44 million Americans who have student debt will soon have to resume repaying their loans, causing financial stress for many households after a three and a half year break. Interest on these loans will begin accruing on Friday, with payments set to resume in October. This pause in payments was initially implemented in March …
The Biden administration has unveiled a new college student loan repayment plan, known as the Saving on a Valuable Education (SAVE) plan, which aims to reduce or eliminate monthly loan payments for over 20 million borrowers. This plan will be applicable to borrowers with various types of loans held by the Education Department, including direct …
This week marks a significant milestone as over 800,000 student loan borrowers will finally have their loans discharged, relieving them of billions of dollars in debt. This move comes after the Biden administration’s recent announcement of student loan forgiveness for 804,000 borrowers, who collectively hold $39 billion in federal student loan debt. These borrowers have …
Repayment of student loans is set to resume in October after a pandemic-related break of over three years. However, many borrowers are expressing financial unpreparedness or lack of awareness regarding the resumption of payments. The consequences for borrowers who do not resume payments in October may not be severe initially, as the Biden Administration is …
Introducing a new income-driven repayment plan that may have the potential to lower student loan debt bills. According to a recent analysis conducted by the HEA Group, approximately one-third of graduate school programs leave students with more debt than they initially borrowed, even after five years post-graduation. While the cost of a bachelor’s degree has …
The Supreme Court has ruled 6-3 that the Biden administration lacks the authority to eliminate nearly $500 billion in student debt. This decision denies relief to around 40 million Americans, who could have had up to $20,000 in student debt forgiven through the HEROES Act plan. On Friday, the Supreme Court made two decisions regarding …