Collection Industry News

AUGUST 22, 2023

That’s why, from day one, President Biden and Vice President Harris have been working to fix the broken student loan system and make college more affordable. Borrowers can sign up today by visiting StudentAid.gov/SAVE Specifically, the SAVE plan will: Cut payments on undergraduate loans in half. million Americans.

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Collection Industry News

MAY 3, 2022

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. The move to cancel student debt has been long called for by the progressive sections of the Democratic party. Forgive credit card debt?

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Credit Corp

AUGUST 4, 2020

Attending college or university is a dream for a ton of people. Yet higher education can be expensive, seemingly putting that dream out of reach for many students and families. Tuition at American schools has steadily increased for decades, so it can be hard for your average student to afford it.

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Collection Industry News

JUNE 5, 2022

The Biden administration announced on Wednesday that the Education Department has approved billions of dollars in new student loan forgiveness for borrowers defrauded by Corinthian Colleges. The Education Department characterized the action as “the largest single loan discharge the Department has made in history.”

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Collection Industry News

JULY 6, 2023

WASHINGTON, June 30 (Reuters) – President Joe Biden on Friday announced new measures to provide student loan relief to Americans and condemned the U.S. Thwarted by the conservative-leaning court, Biden told reporters that his administration would pursue student loan relief through a different avenue, the Higher Education Act.

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Collection Industry News

FEBRUARY 7, 2022

Democrats tweet that student loans should be cancelled, but opponents say student loan forgiveness has major problems. Student Loans. Another week and another day in which a progressive member of Congress tweets at President Joe Biden to cancel student loans. Source- site.

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Collection Industry News

JUNE 5, 2022

In the first indication that President Joe Biden could be preparing to cancel student loan debt, the administration is prepared to wipe out nearly $6 billion owed by hundreds of thousands who attended a for-profit college chain, a possible trial balloon for the wider loan forgiveness that Democrats have been clamoring for.

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Collection Industry News

APRIL 25, 2022

The Biden administration announced changes on April 19, 2022 that would result in immediate student debt relief to some 40,000 borrowers. 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. Source: site.

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Better Credit Blog

JUNE 1, 2022

Preparing for college is one of the most exciting times in life. Registering for classes, perusing the college bookstore, and decorating your dorm with your new roommate couldn’t be more fun. This time can also be stressful, though, as obtaining a college education is pricey. Table of Contents: Federal Student Loans.

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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.

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Collection Industry News

JULY 12, 2022

On Wednesday, the Biden administration announced it was proposing new regulations for student loans owned by the Department of Education. The proposed rules call for an $85 billion expansion of existing federal student loan forgiveness programs. This increases the size of the debt and future interest payments.

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Better Credit Blog

JULY 12, 2021

Student loans are a pressing issue for so many people who have put themselves through college and other higher education. It can also be a complex mess to understand and work your way through once you have to pay up the tally. Here’s what to know when you’re digging into attempting to get your student loan forgiven.

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Collection Industry News

JUNE 22, 2023

Supreme Court handed President Joe Biden a painful defeat on Friday, blocking his plan to cancel $430 billion in student loan debt – a move that had been intended to benefit up to 43 million Americans and fulfill a campaign promise. WASHINGTON, June 30 (Reuters) – The U.S “Today’s decision has closed one path.

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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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Collection Industry News

JULY 12, 2022

Discussion about whether President Biden will forgive $10,000 in student loans for all borrowers dominates headlines. But behind the scenes, Biden’s Department of Education has canceled tens of billions of dollars by turbocharging existing loan forgiveness programs.

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Collection Industry News

OCTOBER 3, 2022

Arkansas is one of seven states in which canceled student loan debt may be treated as taxable income, but whether it is, student loan forgiveness is expected to create a tax burden shift from the borrowers. According to Federal Student Aid, an office of the U.S. The application deadline will be Dec.

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Credit Corp

JANUARY 12, 2021

When it comes to paying for college, the anxiety about how to leave college debt-free starts early. And for thousands of grads who are buckling under the weight of monthly student loan payments that can cost as much as a mortgage, that worry can last for as long as 25 years. Cut the upfront sticker price.

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Credit Corp

APRIL 5, 2021

Student loans get a bit of a bad rep in the news related to the amount of debt they cause. But if you’re looking to advance your career with a necessary degree, student loans might offer a way to pay for your education so you can improve your future. So how do student loans work? PLUS loans.

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Collection Industry News

MARCH 4, 2023

WASHINGTON (AP) — Facing the possibility that the Supreme Court will reject President Joe Biden’s plan for student loan forgiveness, the White House is aiming to turn the political heat toward Republicans while deflecting criticism from disappointed borrowers. And plenty of people are making sure he doesn’t forget.

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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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Collection Industry News

MARCH 21, 2023

The Biden administration’s plan to overhaul a federal student loan repayment program that pegs monthly payments to a borrower’s income would cost $230 billion over 10 years, according to a new estimate from the Congressional Budget Office – nearly double the price tag touted by the White House when it first proposed the plan in January.

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Troutman Sanders

JANUARY 23, 2024

billion in additional student loan debt relief for 73,600 borrowers. These discharges are the result of fixes to income-driven repayment (IDR) forgiveness and public service loan forgiveness (PSLF) made by the administration. For more information, click here. For more information, click here.

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Roths Child Law

APRIL 15, 2021

Taking out a student loan is supposed to be a financial investment in your future. Unfortunately, many college graduates learn the hard way that even after graduating, they can't find a job offering the kind of income that they had once hoped to earn. Some of these borrowers will eventually end up defaulting on their loans.

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Collection Industry News

NOVEMBER 8, 2021

Of the 43 million Americans who hold student debt, roughly a fifth were in default this summer, writes Sarah Sattelmeyer. More than eight million Americans were in default on their student loans as of June. They represent roughly one-fifth of the 43 million Americans who held federal student debt. Dreamstime.

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Collection Industry News

APRIL 18, 2022

trillion in student loan debt is a growing headache for Democrats at a time when families are struggling with higher costs but centrist Democrats led by Sen. are calling for him to cancel up to $50,000 in student debt, while more moderate Democrats argue that student debt cancellation is regressive and likely to add to inflation.

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Collection Industry News

MAY 16, 2022

Borrowing federal student loans is about to get more expensive. Federal student loan interest rates are tied to the 10-year Treasury note and determined using a formula set by federal law. The new fixed interest rates will be: 4.99% for direct subsidized and unsubsidized undergraduate loans. PLUS loans.

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Sawin & Shea

SEPTEMBER 1, 2021

Student loan debt is one of the heaviest burdens on today’s society. The average student loan borrower is close to $40,000 in debt , with the country as a whole having an accumulated student loan debt of $1.73 Today, however, student loans are nearly 35% of the median household income.

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Sawin & Shea

SEPTEMBER 1, 2021

Student loan debt is one of the heaviest burdens on today’s society. The average student loan borrower is close to $40,000 in debt , with the country as a whole having an accumulated student loan debt of $1.73 Today, however, student loans are nearly 35% of the median household income.

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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

APRIL 4, 2022

President Biden is in a difficult position on student loans ahead of the midterms, as pressure builds from borrowers and Democrats for widespread cancellation. But advocates for forgiveness, along with key Democrats, want more than another freeze. The number of student borrowers has risen sharply over the past two decades.

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Troutman Sanders

MAY 9, 2022

On May 3, the CFPB issued an advisory after student loan borrowers submitted complaints regarding companies that promised them student loan forgiveness or loan forbearance in exchange for fees amounting to hundreds or thousands of dollars. Court of Appeals for the Second Circuit.

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Collection Industry News

MARCH 22, 2022

SoFi is one of the private student lenders lobbying to stop, or at least curtail, the pandemic-related moratorium on federal student loan payments that is now stretching into a third year. Justin Sullivan/Getty Images. The jockeying comes as President Joe Biden weighs whether to extend the moratorium past May 1.

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Debt Guru

JANUARY 27, 2020

In fact, The Institute for College Access & Success reported that 65 percent of 2017 grads carry student debt – at an average of $29,200. It’s no wonder, then, that defaulting on student debt has become rampant. This will this simplify your bill-paying life because you only need to remember one due date.

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Better Credit Blog

MAY 17, 2022

One of the benefits of auto loans – which can actually be a problem – is that they’re so easy to get. Most auto loans are straightforward. But there are various types of auto loans that contain different provisions. If you don’t know what they are, you could pay too much for your loan. Ads by Money.

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Collection Industry News

JULY 28, 2020

The federal government’s emergency relief for more than 40 million student loan borrowers is set to expire at the end of September, amid sky-high levels of unemployment and an overall economy still stifled by rising coronavirus cases. The department is already preparing to send warnings to borrowers, starting Aug.

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