Accrued Interest Collections Education Student Loans 
Collection Industry News
MARCH 6, 2024
President Biden will announce a new effort on Monday to reduce or eliminate student loan debt for millions of borrowers, an election-year attempt to revive his goal of providing large-scale relief for Americans struggling to pay off their college loans, a person familiar with the plan said Friday.
Credit Corp
MARCH 9, 2021
Going through student loan repayments can be a hassle. However, due to the COVID-19 pandemic, student loan payments and collection attempts have been paused until September 30, 2021. This means you have more time to find ways to repay your student loans before you have a defaulted loan.
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Titan Consulting
JUNE 7, 2020
Congress recently passed legislation in the CARES act that provides direct and indirect benefits to Federal Student Loan borrowers. Benefits include a suspension of payments, no negative credit reporting, no collection activity, and no accrual if interest until September 30, 2020. Key Takeaways.
Public Citizen
JANUARY 22, 2021
On Wednesday, just hours after being sworn in, President Biden ordered the Education Department to extend the current COVID-19 suspension of all federal student loan payments and interest until at least October 1st. The move comes as Biden faces heavy pressure to cancel student loan debt altogether.
Collection Industry News
AUGUST 6, 2023
Federal student loan borrowers have had a break from paying back their student loans for over three years now. Over 50% of borrowers added debt on regular credit cards during the student loan payment pause and another 31% racked up balances on retail cards, a recent TransUnion analysis found.
Collection Industry News
APRIL 25, 2022
However, recent posts on social media claim there are also existing provisions that exempt family members of congressmen and congressional staffers from having to pay off student loans at all. The post stated, in part: “Children of Congress members do not have to pay back their college student loans.”. In 2011, the U.S.
Collection Industry News
NOVEMBER 6, 2023
The Biden-Harris Administration is fully committed to supporting student loan borrowers as they navigate return to repayment and fixing problems in the student loan system. Secretary of Education Miguel Cardona. Today, the U.S. The USDS contract brings several benefits related to servicer accountability.
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