By Cecilia Clark | NerdWallet Even with federal student loan forbearance and talk of forgiveness prospects, student loan interest rates still matter — and nothing underscores that point better than the likelihood of them rising soon. Private student borrowers, whose payments are not suspended and who will not benefit from any federal cancellations, may be […]
Tag: loan forgiveness
Should you rush to refinance your student loans? |
Even with federal student loan forbearance and talk of forgiveness prospects, student loan interest rates still matter — and nothing underscores that point better than the likelihood of them rising soon. Private student borrowers, whose payments are not suspended and who will not benefit from any federal cancellations, may be wondering if now is their […]
Lenders who refinance non-degree student loans
If you have student loans but no degree, managing your repayment can be more difficult, especially if you’re hoping to refinance. Most lenders require a degree for refinancing, but there are a few exceptions. Here’s where to start if you’re trying to refinance your student loans without a degree. What is student loan refinancing? Student […]
I graduated from college at 40, but defaulted on my student loans. How can I treat?
How to get out of student loan debt Getty Images/iStockphoto Question: I’m about to turn 65 and eligible for Medicare. I have a bachelor’s degree in corporate and organizational communication and an associate’s degree in marketing and sales technology. I was 40 when I graduated. My younger classmates got great jobs. I went bankrupt and […]
Explosive Report Claims This Student Loan Service Deceived Student Loan Borrowers
President Joe Biden (Photo by Samuel Corum-Pool/Getty Images) Getty Images A bombshell new report claims this student company misled student borrowers. Here’s what you need to know and what it means for your student loans. Student loans A new report published by the Communications Workers of America (CWA) and the Student Borrower Protection Center (SBPC) […]
Mid-Valley Scam Alert: Scammers preying on those with student loans | Local
University is an expensive investment. But you already know that. Take a look at how many Americans are in debt thanks to the high amount of student loans they have accumulated. Due to the pandemic, the federal government has put a temporary pause on the repayment of these loans. For now, this break is in […]
With interest rates about to rise, is it time to refinance your student loans?
Catherine Lane/Getty Images When you take out a student loan, you agree to a specific interest rate and repayment schedule. But what are your options when other lenders offer better deals than your current loan or your monthly payment gets too high? Refinancing student loans can be the solution to high interest rates. When you […]
Student Loan Cancellation Doesn’t Mean What You Think It Means
President Joe Biden (Photo by Jim WATSON/AFP) (Photo by JIM WATSON/AFP via Getty Images) AFP via Getty Images Canceling a student loan doesn’t mean what you think it means. Here’s what you need to know. Student loans Will President Joe Biden Forgive Your Student Loans? White House Chief of Staff Ron Klain said Biden could […]
Fintechs clamor to provide relief options for student borrowers – TechCrunch
Since March 2020, student borrowers have not had to make federal student loan repayments. These payments are expected to resume from May 1, 2022, which will undoubtedly cause stress for borrowers. President Biden may consider extending temporary student loan relief beyond that date, but nothing is official yet. On March 9, Biden said he would […]
What to know about student loans before borrowing
One Billion Photos / Shutterstock.com Editor’s Note: This story originally appeared on Living on the Cheap. Are you considering taking out a student loan for your studies or those of your children? This is not a decision to be taken lightly. Here is the basic information you need to know. Federal student loans aren’t always […]
This is the average student loan debt in each state
item New data from the Institute for College Access & Success shows where the Class of 2020 has the highest student loan balances. (Stock) A college degree gives graduates the chance to get higher-paying jobs in specialized fields, but it can come with a hefty price tag that leaves many Americans with crippling student loan […]
30,000 borrowers will have their student loans canceled
Thousands more people could soon see their student loan balances wiped out as the Biden administration works to identify borrowers eligible for the Public Service Student Loan Forgiveness. It is the latest effort by the Department of Education to relieve borrowers burdened with billions of dollars in student loan debt. The number of student borrowers […]
93% of student borrowers not ready to start payments again in May
item Student loan repayments resume in May, but a new survey suggests the vast majority of borrowers are not financially prepared. (Stock) Federal student loan repayments resume May 1 after more than two years of COVID-19 emergency forbearance. However, 93% of student borrowers are not ready to resume their payments, according to a February survey […]
Survey: 93% of student borrowers not ready to start payments again in May
Student loan repayments resume in May, but a new survey suggests the vast majority of borrowers are not financially prepared. (iStock) Federal student loan repayments resume May 1 after more than two years of COVID-19 emergency forbearance. However, 93% of student borrowers are not ready to resume their payments, according to a February survey conducted […]
5 Ways to Get $0 Student Loan Payments
Getty Getty Here are 5 ways to get $0 student loan repayments. Here’s what you need to know. Student loans With student loan payments set to resume after May 1, 2022, President Joe Biden may extend the student loan payment pause for an unprecedented fourth time. If that doesn’t happen, however, The Debt Collective – […]
Student debt relief: Could payments be suspended again as White House considers executive action?
fizkes / iStock.com A White House official said the Biden administration is considering extending the pause on student loan payments — which is currently set to expire in less than two months — although nothing official has been decided yet. See: Freezing Student Loan Forgiveness Plans –– What happens when the moratorium ends?Find: How Gen […]
The 9 fastest ways to pay off student loans, according to experts
mapodile/Getty Images Your student loans can eat up a big chunk of your budget each month, especially when you’re starting out on your own, making it that much harder to save for a home, build up your retirement savings, and pursue other financial goals. It’s also not uncommon to still be saddled with student loan […]
Biden could extend student loan suspension and plans to forgo loans, White House official says
WASHINGTON, DC – MARCH 03: US President Joe Biden speaks at an event in the East Room of the … [+] White House on March 03, 2022 in Washington, DC. (Photo by Anna Moneymaker/Getty Images) Getty Images A senior White House official suggested this week that President Biden is considering a further extension of the […]
San Diego students react to Biden saying community colleges are ‘America’s best kept secret’
President Joe Biden called community colleges America’s best-kept secret in his State of the Union address. He did not mention the forgiveness of student loans, which is an election promise. School finances were on the minds of San Diego Mesa College students Wednesday as they returned to campus for their reorientation. Alberto Lizarraga is in […]
Who is my student loan agent?
Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own. Wondering who your student loan manager is? […]
Current student loan news for the week of February 28, 2022
Last week, the US Department of Education announced the next steps for an overhaul of the federal student loan administration system, a process that has been underway since 2017. Here’s what you need to know about student loan trends this week and their impact on your balance. 1 current student loan trend for the week […]
These 2.4 million borrowers may not qualify for student loan forgiveness
Americans with private student debt would not qualify for the sweeping federal loan forgiveness proposed by prominent Democrats. (iStock) Total student debt outstanding continues to climb as many borrowers do not have access to debt relief programs, such as student loan forgiveness. But even if President Joe Biden is able to deliver on his campaign […]
Seniors and Student Loan Debt: Is There a Way Out?
designer491/Getty Images/iStockphoto The problem of growing student debt in the United States largely concerns young people who are struggling to repay their loans in addition to their other bills. But seniors on fixed incomes also face many of the same challenges. See: Navient student loan settlement leaves many people with a bill to pay Find: […]
Biden administration writes off another $415 million student loan debt: Are you eligible?
Nearly 16,000 borrowers will receive $415 million in student loan forgiveness after the Department of Education approved a series of Borrower Defense Applications on February 16. (iStock) If you borrowed federal student loans to attend a college that engaged in misconduct, you may be eligible for full debt forgiveness under the Borrower Defense Program until […]
I co-signed my daughter’s private student loan. Am I responsible if she declares bankruptcy?
Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own. The Credible Money Coach shares information about […]
Do you have to claim student loans on your taxes?
Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own. You do not have to report student […]
Biden’s student loan forgiveness now tops $16 billion after fresh wave of approvals
WASHINGTON, DC – February 15: US President Joe Biden delivers remarks in the East Room of the … [+] White House on February 15, 2022 in Washington, DC. (Photo by Alex Wong/Getty Images) Getty Images The Biden administration has now approved at least $16 billion in student loan forgiveness, according to the Department of Education, […]
Department of Education writes off $415 million in student loan debt for 16,000 borrowers
What is the Civil Service Loan Cancellation Program? The civil service loan forgiveness scheme started in 2007 as a reward for students entering the civil service, but has been criticized for its complex requirements in the past. The Ministry of Education announced this week that it would write off $415 million at the federal level […]
31% of large companies plan to offer student loan assistance in the next 2 years, data shows
Nearly a third of large companies plan to offer student loan assistance programs in the next two years, according to a new study. (iStock) In order to attract loyal workers in today’s job market, some employers have started offering student loan assistance programs. Recent research from the Employee Benefits Research Institute (EBRI) showed that about […]
Another $415 million in student loans have been forgiven – is yours one of them?
Monkey Business Images / Shutterstock.com The US Department of Education will repay $415 million in student loans to nearly 16,000 borrowers who attended DeVry University and other for-profit schools accused of defrauding or misleading students. See: Navient Predatory Student Loan Suit Ends in $1.85 Billion SettlementFind: Social Security Reimbursement – Here’s Why Some Students Can […]
How to Make Your First Student Loan Payment – Forbes Advisor
Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors. Many students depend on student loans to pay for their education. But for the most part, they won’t make their first payment on that debt until after they graduate. If you’re having […]