Applying for the SAVE Plan: A Step-by-Step Guide to Student Loans

After enjoying more than three years of not having to make student loan payments, borrowers are now faced with the reality of adding this expense back into their budgets. Starting in September, interest will begin accumulating on student loan balances, and payments will become due in October. This can be a difficult adjustment for many …

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Understanding the Functioning of Subsidized and Unsubsidized Loans

Srdjanpav | E+ | Getty Images Understanding Interest Accrual on Loans Direct Subsidized Loans are available to undergraduate students who demonstrate a financial need. These loans do not accrue interest while the borrower is in school at least half-time or during a six-month grace period after leaving school. Additionally, interest does not accumulate during deferment, …

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Former Vice President Joe Biden Forgives $72 Million in Loans for Former Ashford University Students

President Joe Biden’s administration has announced that it will allocate $72 million to provide support to more than 2,300 student borrowers who have applied for loan relief to cover their degrees at Ashford University, a former for-profit online college in San Diego. The university was found guilty of deceiving its students. The affected students will …

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Things you need to know as student loan repayments are about to resume.

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 …

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Former Fed Governor Kroszner warns against ruling out additional rate hikes amidst job market fluctuations

Former Federal Reserve governor Randall Kroszner believes that additional interest rate hikes may still be on the horizon. Kroszner, currently a professor of economics at the University of Chicago, predicts that interest rates will remain high well into the next year. Speaking to CNBC’s “Fast Money” on Wednesday, Kroszner stated, “I don’t see how they …

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Billions of Dollars in Debt Forgiveness to be Granted to Over 800,000 Student Loan Borrowers This Week

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 …

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Important Information to Consider Before Borrowing Student Loans

An estimated 43.6 million Americans are currently burdened with federal student loan debt, which adds up to a staggering $1.7 trillion. As the cost of college continues to rise, surpassing the average family income, it is inevitable that more students will find themselves in this statistical category. However, taking on tens of thousands, if not …

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Alarming Number of Graduate Schools Burden Alumni with Unmanageable Debt

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 …

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7 Tips for Reducing College Expenses for Your Child

If you’re a parent, the financial burden of paying for your child’s college education is likely weighing heavily on your mind. From the moment your child is born, you start to wonder about the best savings account to open and how much you can afford to set aside each month. Will it all be enough …

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