Category: Student Loans

A Borrower’s Timeline of the Public Service Loan Forgiveness Quagmire

The New York Times – Business:
One county lawyer’s repayment saga stretches nearly 20 years, though she’s tried 22 times over the past 20 months to erase her debt.
FAFSA Form for College Aid Will Be Less Stressful This Year, Officials Say

The New York Times – Business:
The college financial aid form has long been a stressor for high school seniors and their parents. Fixes have made it simpler and faster to complete, officials say.
Many Student Loan Borrowers May Have to Switch to Worse Repayment Plans

The New York Times – Business:
In an usual move, Congress worsened terms for some existing borrowers. Now they’ll have to pay more, and for a longer term.
India’s College Boom Is Leaving Graduates in Debt and Without Jobs

The New York Times – Business:
Families are betting their savings on private universities as a path to a better life. A shortage of well-paying work is turning that wager into frustration.
Education Dept. to Wipe Out Student Loans of 170,000 More Defrauded Borrowers

The New York Times – Business:
The sprawling case, centered on students defrauded by for-profit schools, has now become the largest class-action settlement in American history.
Judges Strike Down Trump Rule on Loan Forgiveness for Public Servants

The New York Times – Business:
Two federal courts have blocked a new Trump administration rule that could have narrowed eligibility for a student loan forgiveness program for public servants.
Nursing Students and Others Get Higher Student Loan Limits

The New York Times – Business:
A legal challenge to a law that takes effect this week has doubled the amount certain graduate students can borrow from the federal government to $50,000 per year.
Rates on New Student Loans Will Rise on July 1

The New York Times – Business:
Higher interest rates take effect on July 1 for the next school year. Borrowers are already dealing with rising college costs and inflation elsewhere.
How Brandeis Is Trying to Change College Shopping

The New York Times – Business:
A new tool on the university’s website tells you what the first year “will” cost if you get in.
Some Borrowers Are Moving Abroad and Abandoning Their Student Loans

The New York Times – Business:
A record number of student loan borrowers are in delinquency and default. Some are making the drastic decision to leave the country and abandon their loans.
Parents Who Borrowed for Children’s College Face Looming Deadline

The New York Times – Business:
New rules mean that parent PLUS loans have to be consolidated into a new loan by June 30 for parents to keep affordable payments. But the deadline is really earlier to allow time for processing.
Record Number of Student Loan Borrowers Are in Delinquency and Default

The New York Times – Business:
Recently released data from the Education Department showed that by the end of last year, 7.7 million borrowers had defaulted on $181 billion in federal student loans.