The Education Department said it would put the borrowers in forbearance while it recalculated their payments to comply with recent court rulings.
Category: Student Loans
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What Happens to Biden’s Student Loan Repayment Plan After Court Rulings?
More than eight million borrowers are enrolled in the income-driven plan known as SAVE. The Education Department is assessing the rulings.
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Parts of Biden’s SAVE Student Loan Plan Are Blocked by Judges
A part of the SAVE plan that would have cut monthly bills for millions of borrowers starting on July 1 was put on hold.
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How Fed Rates Influence Mortgages, Credit Cards and More
Higher rates benefit those who can save, but for borrowers falling rates would reduce bills on credit cards, home equity loans and other forms of debt.
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Student Loan Bills Are Dropping Next Month for Many, but There’s a Hiccup
The Education Department has not finished recalculating payments for millions of borrowers enrolled in SAVE, forcing loan servicers to put many loans into forbearance.
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There’s a Program to Cancel Private Student Debt. Most Don’t Know About It.
A nonprofit group is publicizing the relief program that Navient, a large lender, created for students who attended for-profit schools that misled them.
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Navient Will Cancel Private Student Loans. Most Don’t Know About It.
A nonprofit group is publicizing the relief program that Navient, a large lender, created for students who attended for-profit schools that misled them.
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Interest on Federal Student Loans Is Rising to 6.53%
The rate for undergraduate loans is up from 5.5 percent this past school year and higher than it has been in more than a decade.
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A Pause for the Public Service Loan Forgiveness Program
The Education Department has temporarily stopped processing applications and other forms as it updates its systems and deals with problems plaguing the program.
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What Fed Rate Moves Mean for Mortgages, Credit Cards and Student Loans
Higher rates benefit those who can save, but for borrowers falling rates would reduce bills on credit cards, home equity loans and other forms of debt.
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Biden Cancels $6.1 Billion in Debt for Former Art Institute Students
The announcement covers 317,000 former students and marks another step in the administration’s student loan relief efforts.
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Biden Cancels $6.1 Billion in Debt for Former Art Institute Students
The announcement covers 317,000 former students and marks another step in the administration’s student loan relief efforts.