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

Credit Corp

million Americans have student loan debt, which totals over $1.7 If you owe tens of thousands of dollars in student loan debt, you’re not alone. million Americans have some form of federal or private student loan debt. Table of contents: Average student loan debt How many Americans have student loan debt?

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

Collection Industry News

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.

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All the Types of Student Loans

Better Credit Blog

In those cases, student loans can be a valuable resource. If you’re looking for a loan to help fund your education, you have plenty of options. Read on to learn which types of student loan might work best for you. Table of Contents: Federal Student Loans. Private Student Loans.

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Congress Passes Relief for Student Loan Borrowers in CARES Act

Titan Consulting

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. Help Available for Borrowers with Student Loans.

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Pros and Cons of Income-Driven Student Loan Repayment Plans

Credit Corp

Student loans are by far some of the biggest issues most students are facing today when it comes to finances. To get the kind of education you want, you will probably need to take out a student loan to pay for the studies – and then spend years if not decades paying back such loans.

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

Collection Industry News

The Public Service Forgiveness Program eliminates the debts of government and non-profit organizations’ workers, who have accrued at least 10 years of qualifying payments. The post stated, in part: “Children of Congress members do not have to pay back their college student loans.”. billion in student debt forgiveness.

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Student Loan Forgiveness Plans Enrage Boomers: ‘Unfair’

Collection Industry News

A number of people in the so-called “boomer” generation have hit out at President Joe Biden ‘s reported plans to forgive some student loan debt for millions of people. Mark Curtis , an television anchor for Arizona’s 12 News, added: “Cancelling accrued interest on a loan. The student loan machine is predatory.