Account Recovery

APRIL 7, 2022

As expected, the federal government yesterday announced that it was extending the moratorium on making student loan payments for an additional four months — to August 31 — but added in an extra wrinkle that will impact those in the accounts receivable management industry: The 7 million borrowers who are in default on their student … (..)

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Account Recovery

MAY 31, 2022

There are more than 7 million individuals who have defaulted on their federal student loans, and the current moratorium on making student loan payments is those individuals’ best shots at getting back in good standing, especially with published reports indicating that another extension of the moratorium is likely and that the federal government (..)

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Account Recovery

AUGUST 7, 2023

A lawsuit was filed on Friday by the New Civil Liberties Alliance against the federal government, seeking to block a plan that would forgive $39 billion of student loan debt, claiming the violates the Appropriations Clause of the Constitution because only Congress has the authority to cancel debts owed to the Treasury Department.

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Account Recovery

APRIL 6, 2022

The White House is expected to announce as soon as today that it will once again extend the moratorium on student loan payments, this time pushing the deadline out another four months to August 31.

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Account Recovery

AUGUST 23, 2021

The Chief Executive of one of the nation’s largest student loan servicing companies is being accused of lying in testimony before Congress, as the companies winds down its operations servicing student loans on behalf of the federal government.

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Account Recovery

FEBRUARY 16, 2022

The Department of Education has announced it will suspend the seizure of tax refunds, Social Security payments, and other government payments to collect on defaulted student loans through November.

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Account Recovery

JUNE 22, 2022

Bill Introduced to Prohibit Student Loan Cancellations; Court Certifies Class in ADA Suit Over Site’s Inaccessibility appeared first on AccountsRecovery.net.

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Account Recovery

JULY 3, 2023

The Supreme Court — in a 6-to-3 vote — on Friday struck down a plan from the Biden Administration to cancel as much as $20,000 in student loans for borrowers making under $125,000 a year, saying that the federal government exceeded its authority with the plan, saying that under the government’s interpretation of the Higher […] (..)

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Account Recovery

AUGUST 17, 2021

A pair of national consumer advocacy groups are calling on the federal government to cancel student loan debts “across-the-board” as a means of helping individuals improve their financial futures, after analyzing more than 400,000 loans being serviced by Navient.

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Account Recovery

JUNE 15, 2021

Richard Cordray, the former Director of the Consumer Financial Protection Bureau who is now running the federal government’s student loan program, sat down for an interview with the Washington Post that was published a few days ago.

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Nexa Collect

JUNE 27, 2023

Recovering unpaid student loans is a systematic process. Just like mortgage recoveries, the steps can vary depending on the jurisdiction and the terms of the loan. Offset Tax Refunds and Government Benefits : For federal student loans in the U.S.,

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Credit Corp

MARCH 21, 2023

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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Account Recovery

AUGUST 24, 2023

The Department of Education, along with the federal government, yesterday announced it had launched its updated income-driven repayment application tool for individuals with unpaid student loans, a tool that could help reduce the student loan payments for up to 30 million borrowers.

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Credit Corp

OCTOBER 31, 2021

If you feel burdened under the weight of student loan debt, you’re not alone. In 2019, the average student loan debt total per person was more than $31,000. The good news is that you may be able to get part or all of your student loans forgiven. Reduce Your Student Loan Payments. In This Piece.

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Nerd Wallet

DECEMBER 21, 2020

Chuong, 26, from Seattle, refinanced roughly $55,000 in federal student loans with a private lender in February. A month later, the government suspended most federal loan payments interest-free until September. Chuong’s new loan doesn’t qualify. Chuong’s new loan doesn’t qualify. Email: rlane@nerdwallet.com.

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Consumer Finance

JANUARY 4, 2024

In March 2020, the federal government announced that payments in connection with federal student loans owned by the U.S. Department of Education would be suspended, and interest would be waived for the duration of the suspension.

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Credit Corp

AUGUST 25, 2020

As of early 2020, student loan debt in the nation had reached more than $1.5 More than 44 million individuals have student loan debt, and the average person with student loans owes a bit over $32,000—which is more than half of the average household income in the United States. Looking for a Student Loan?

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Nerd Wallet

OCTOBER 7, 2020

Student loan forgiveness isn’t easy to get even if you qualify for one of several existing federal programs, including: Public Service Loan Forgiveness: Make 10 years’ worth of payments (120 months) while working for the government or a nonprofit to qualify for tax-free forgiveness on the remainder of your debt.

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Debt

MAY 3, 2021

The rules governing repayment of federal student loans contain so many nooks and crannies that it shouldn’t come as a surprise that you may have missed one created during the COVID-19 Emergency Relief program. 30… The post How to Get a Refund on Your Student Loan Payments During COVID-19 appeared first on Debt.org.

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Roths Child Law

JANUARY 2, 2023

If one of the reasons you’ve decided against bankruptcy is because you’ve heard that it’s nearly impossible to discharge student loan debt, the federal government has announced a plan that could change that for you. It’s been a confusing and frustrating time for Americans of all ages who are mired in student loan debt.

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Public Citizen

MARCH 24, 2022

Jack Hoover, a 3L at Virginia, has written Standing and Student Loan Cancellation, 108 Va. Here's the abstract: As the public policy debate over broad student loan cancellation continues, many have questioned whether the Executive branch has the legal authority to waive the federal government’s claim to up to $1.6

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Better Credit Blog

MAY 11, 2022

million people carry some form of student loan debt, with most averaging around $39,000 —although many of us have a lot more. Refinancing your student loans could help lower your monthly payments and reduce your overall repayment amount. Additionally, look at our best student loan companies to apply completely online.

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Collection Industry News

MARCH 22, 2024

“When I was told I couldn’t universally just change the way in which we dealt with student loans,” Biden said, “I fixed two student loan programs that already existed to reduce the burden of student debt for nearly 4 million Americans, including nurses, firefighters and others in public service.”

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Nerd Wallet

AUGUST 3, 2020

Federal student loan borrowers haven’t had to make payments since March. But without continued government intervention, those unable to pay can expect long waits for help come October when bills are scheduled to restart. Anna Helhoski is a writer at NerdWallet. Email: anna@nerdwallet.com. Twitter: @AnnaHelhoski.

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Sawin & Shea

JULY 13, 2022

The majority of people in Indiana who have thought about declaring bankruptcy likely already know how challenging it is to get student loans erased. Although it is not impossible, debtors normally need to pass the Brunner test, which establishes that repaying the student loans will put them in an unreasonably difficult position.

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Nerd Wallet

SEPTEMBER 22, 2020

Most student loans are federal. MORE: Government student loans: What are the benefits? Check the Federal Student Aid site Studentaid.gov contains information on all federal student loans. It’s the easiest way to determine if your loans are federal and. Email: cclark@nerdwallet.com.

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Account Recovery

SEPTEMBER 8, 2021

The Consumer Financial Protection Bureau yesterday announced an enforcement action against an income share agreement provider that was accused of misrepresenting its product and failing to comply with federal law governing private student loans.

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Public Citizen

APRIL 14, 2021

There's a lot in the article worth reading, but here's a short excerpt: Senator Warren opened the hearing by highlighting how student loan debt exacerbates the racial wealth gap, noting that, “After 20 years, the median Black borrower still owes 95% of the original amount borrowed."  *  * *.

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Public Citizen

APRIL 6, 2022

That's consistent with Elizabeth Warren's position that the government shouldn't make money on student loans. by Jeff Sovern. I wonder what incentives it would create. 

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Collection Industry News

APRIL 22, 2023

WASHINGTON — A settlement that will allow thousands of student loan debts to be canceled will go into effect after the Supreme Court on Thursday declined to block it. The case is unrelated to President Joe Biden’s broader effort to forgive student loan debt, which is also before the justices, with a ruling due in the next two months.

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Collection Industry News

JULY 18, 2022

A bankruptcy judge ordered student loan servicer Navient Corp. to suspend its efforts to collect payments from borrowers of certain private student loans who filed for bankruptcy and whose debts were likely eligible for a discharge. Government-backed…. Source: site. Judge Elizabeth Stong with the U.S.

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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. The stimulus package provided direct payments to families, extended unemployment benefits, forbearance provisions for federally backed mortgages, and payment protection loans for small businesses.

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Collection Industry News

APRIL 11, 2022

The student loan crisis is a hot topic of conversation in Washington because student debt is felt by a lot of us, 45 million of us to be exact, for a total debt of 1.6 We often break our pink piggy bank that says student loan on it, in an attempt to pay back our debts. The history of student loans.

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Collection Industry News

SEPTEMBER 19, 2022

Student borrowers in New York state should be mindful of potential debt relief scams as the federal government moves to provide up to $20,000 in debt forgiveness, Gov. Hochul this week approved a measure meant to simplify and expand the Public Service Loan Forgiveness program in New York. Kathy Hochul on Friday said.

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Account Recovery

OCTOBER 20, 2021

Debt collection, student loan debt relief, payday loans, and government impersonators are just a few of the categories highlighted in a Federal Trade Commission report that analyzes the regulator’s effort at addressing fraud and consumer issues that are affecting communities of color, which was released earlier this week.

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Credit Corp

MAY 17, 2021

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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Debt

OCTOBER 28, 2020

If you are paying on a federal student loan, you probably already know that the government CARES Act has provided benefits that suspends payment and interest requirements through December 31. That has been a godsend to those who lost their jobs in the wake of the COVID-19 pandemic.

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