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5 Options for Your Money Before Student Loan Payments Resume

Nerd Wallet

This article provides information for educational purposes. The Biden administration has extended the federal student loan payment pause a final time, meaning borrowers won’t owe money or accrue interest until February 2022.

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Biden Will Try Again to Wipe Out Student Loan Debt for Millions of Borrowers

Collection Industry News

The president’s previous effort was based on the Heroes Act, which allows the education secretary to waive debt during an emergency; the current regulations would be authorized by the Higher Education Act. Politically, the timing is critical for Mr. Biden as he battles former President Donald J.

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Biden Extends Federal Student Loan Moratorium

Public Citizen

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. Former President Trump later extended those measures until January 31, 2021.

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U.S. Student loan debt statistics you should know in 2023

Credit Corp

Department of Education shows how many Americans have debt by federal loan type. Department of Education shows how many Americans have debt by federal loan type. Year (Q4) Direct loans (in millions) Federal Family Education Loans (FFEL) (in millions) Perkins loans (in millions) Total (in millions) 2018 34.2 2021 37 10.2

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Congress Passes Relief for Student Loan Borrowers in CARES Act

Titan Consulting

Benefits include the following: Suspension of Monthly Payments : The US Department of Education automatically suspended payments on outstanding federal student loans. Payment relief includes both direct and FFEL (Federal Family Education Loans) loans and lasts through September 30, 2020. About Titan Consulting Group.

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Fact Check: Is Congress Exempt From Paying Off Student Loans?

Collection Industry News

Department of Education told reporters that there are no such provisions under Title IV of the federal student aid programs, which provide loans to Members of Congress and families of congressional staffers. Department of Education announced its expansion of student debt relief to thousands of government agency employees.

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Over half of student loan borrowers racked up credit card debt during the payment pause—now experts worry about ‘shock’

Collection Industry News

The smart consumer also will do everything in their power to start making payments so they’re not accruing interest on something they’re not making payments on.” Here are the available options: Saving on a Valuable Education. Aim to pay at least the minimum on all of your debts on time.