The White House this week has confirmed that the Biden administration will be implementing significant changes to the Public Service Loan Forgiveness (PSLF) program, and a formal announcement outlining potentially sweeping changes is imminent.
About six months ago, I received a letter from the Social Security Administration informing me that it had miscalculated the amount of my monthly Security check for the past six years. I had been overpaid, the feds said, and it would not send me any more monthly...
Perhaps the most inane car insurance commercial ever aired is one by Liberty Mutual: “Only pay for what you need.” Apparently, Liberty Mutual wants auto drivers to believe that it is the only insurance company that allows customers to buy car insurance...
Today, the Biden administration formally begins a potentially sweeping overhaul of regulations governing key federal student loan forgiveness, repayment, and relief programs.
Your student loan servicer may be changing sooner than you think.
The Biden administration is preparing to move forward with a process to enact potentially sweeping changes to key federal student loan forgiveness, repayment, and relief programs.
Advocates for student loan borrowers are redoubling their efforts to convince President Biden to cancel student loan debt in the face of an increasingly unsettled federal student loan system.
Navient and FedLoan Servicing are ending their student loan servicing contracts with the Department of Education. Here’s what borrowers need to know.
Navient on Tuesday became the latest student loan servicer to announce that it plans on exiting the federal student loan servicing system.
Since January, the Biden administration has announced that it would be automatically cancelling billions of dollars in student loan debt. But the automated nature of the initiative, and the lack of details or a clear timeline, is causing uncertainty.
Congress is hurtling towards a potential shutdown. If a shutdown does occur, here’s what student loan borrowers can expect in terms of repayment and student loan servicing.
While the debate continues about reforming or expanding existing student loan forgiveness programs, many borrowers have been applying for relief under these programs, only to be denied. In some cases, borrowers may still have options.
President Biden is under increasing pressure to address the troubled Public Service Loan Forgiveness (PSLF) program by automatically wiping out the debt of public servants. Will he act?
Will some private student loan borrowers get their loans forgiven?
The Biden administration is taking early steps to provide clear messaging to student loan borrowers. One message is that student loan repayment will be resuming in February. The other is that mass student loan cancellation is probably not going to happen.
For the vast majority of borrowers who qualify for Biden’s student loan forgiveness initiatives, no action is required. Here’s why.
A common saying when I was young (in the last century) was the old adage that lawyers are people who wish to make a lot of money but are risk-averse. That observation certainly rang true when I went to law school in the 1970s. I graduated from the University of Texas...
As borrowers approach the end of the student loan payment pause, advocates are pushing Biden to make income-based repayment plans more affordable. Will he act?
Between ballooning interest and more limited repayment flexibility, Parent PLUS borrowers are increasingly struggling, and many are counting on student loan forgiveness. But will that happen?
Student loan borrowers have been on a rollercoaster, and more changes are ahead. Here’s what to expect in terms of student loan forgiveness, repayment, loan servicing, and scams in the coming months.
Amazon this week became the latest major national corporation to offer tuition-free college as an employee benefit. Will these initiatives reduce reliance on student loans?
A new report released today by a student loan borrower advocacy organization sheds new light on the troubled Public Service Loan Forgiveness program. Four out of five applicants are expected to be rejected by 2026.
House Democrats yesterday released a detailed breakdown of their higher education spending proposals, which will include free community college and changes to some student loan forgiveness and financial aid programs.
The Biden administration has begun implementing full student loan forgiveness for tens of thousands of borrowers. But the rollout has been bumpy.
In response to the COVID pandemic, the Department of Education allowed student-loan debtors to skip their monthly loan payments without penalty until September 30, 2021. That pause was recently extended to January 30, 2022. Thanks to the Department’s...
Freshman enrollment dropped an astonishing 13 percent last year, and overall college enrollment sank 4 percent. What accounts for this exodus? The COVID pandemic partly explains it. Colleges switched from classroom teaching to online instruction in the spring of...
The Biden administration has used executive action to cancel billions in student loan debt for hundreds of thousands of borrowers. But so far, the enacted student loan forgiveness has been highly targeted to benefit narrowly-defined categories of borrowers.
The Department of Education is sending out mass notices to borrowers about the student loan pause, warning them that they will have to resume repayment soon.
Hurricane Ida slammed into New Orleans on August 30th–the sixteenth anniversary of Hurricane Katrina. Most of the city is without power, and the Big Easy’s colleges and universities were forced to close. According to Inside Higher Education, New...
Joss recently wrote Stever Rhode (the Get Out of Debt Guy) and asked for advice about a student loan her father took out to help finance her college education. Joss co-signed the loan but understood that her father would pay the loan back. He didn’t.Josh...
The Biden administration on Thursday announced that it will be initiating $1.1 billion in automatic student loan forgiveness for at least 115,000 borrowers defrauded by their school.
The Biden administration has recently implemented significant changes to several major programs that will result in nearly $9 billion in student loan forgiveness. But one cohort of borrowers is still waiting for relief: those on track for Public Service Loan...
Louisiana State University announced this week that it will use $7 million in COVID relief money to clear debts that students owe the university. About 4,000 students will benefit.That’s wonderful!But before we stand up and cheer, let’s recognize that LSU...
The Biden administration on Tuesday provided a detailed legal and policy rational for reversing a Trump-era policy that limited relief to borrowers under a key federal student loan forgiveness program.
One particular type of student loan has been consistently left out of Biden’s student loan forgiveness and relief programs: private student loans.
American universities are in a tight spot. When the coronavirus pandemic hit in March 2020, almost all of them closed their campuses and switched to online instruction.Result? Students filed hundreds of lawsuits against the colleges, claiming–rightly in my...
