What to Know About the New Student Loan Repayment Plan
The Biden administration’s new income-driven repayment plan, SAVE, will reduce payments for millions of borrowers and more will qualify for $0 payments.
Posted inBanking and Financial Institutions Consumer Behavior Content Type: Service Credit and Debt Credit Cards Credit Scores Federal Reserve Bank of New York Interest Rates Personal Finances Student Loans TransUnion LLC
Credit Card Debt Hits New Peak as Some Borrowers Face Financial Strain
Debt rose to more than $1 trillion in the second quarter, a report found — a sign of financial strain for some, even before student loan payments resume.
Posted inCenter for Retirement Research at Boston College Credit and Debt Generation X Labor and Jobs Longevity Mortgages National Center for Education Statistics Northwestern Mutual Life Insurance Co Pensions and Retirement Plans Personal Bankruptcies Personal Finances Retirement Savings Student Loans TransUnion LLC United States Wages and Salaries
As Student Loan Payments Resume, Gen X Struggles to Save for Old Age
The end of the payment pause means Americans in this age group will once again have to juggle paying off debt while trying to save for older age.
Posted inColleges and Universities Credit and Debt Education Department (US) Law and Legislation Personal Bankruptcies Personal Finances Student Loans United States Politics and Government
Discharging Student Loans in Bankruptcy Show Mixed Results
Last year, the Biden administration provided a new path to make it easier to discharge student loans in bankruptcy. The results appear promising, but success has been limited.