Account Recovery

OCTOBER 7, 2021

The Department of Education yesterday announced major changes to the Public Service Loan Forgiveness Program that will see 22,000 individuals become immediately eligible for the program and an estimated 550,000 individuals move a lot closer to having their student loans wiped away.

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Account Recovery

MARCH 6, 2024

The report was released […]

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Consumer Finance

FEBRUARY 18, 2022

Bulletin follows findings that servicers made deceptive statements to borrowers about loan cancellation for public service.

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Troutman Sanders

FEBRUARY 6, 2024

billion in student loan forgiveness for 73,000 individuals. The relief was provided through several modifications to the income-driven repayment (IDR) forgiveness and Public Service Loan Forgiveness (PLSF) programs. billion in student loans for more than 3.7 million borrowers.

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Nerd Wallet

OCTOBER 7, 2021

Department of Education is expected to immediately wipe the slate clean for 22,000 student borrowers seeking Public Service Loan Forgiveness and speed the process for at least 500,000 more. It’s not the broad student loan forgiveness borrowers may be dreaming of. Email: anna@nerdwallet.com.

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Collection Industry News

MARCH 22, 2024

In his State of the Union address Thursday night, President Joe Biden talked up his administration’s work to forgive the student debt of nearly 4 million people. The loan servicers weren’t keeping track of the number of qualifying payments,” Kantrowitz said in a previous CNBC interview.

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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

JUNE 8, 2022

For Kristi Cruz, a legal aid attorney in Seattle, checking her federal student aid account to see if her debt would be discharged through the Public Service Loan Forgiveness program became a compulsion. The article How a Legal Aid Attorney Got Student Loan Forgiveness originally appeared on NerdWallet.

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Collection Industry News

DECEMBER 6, 2023

The Biden administration announced Wednesday that it would forgive an additional $4.8 billion in student loan debt, for 80,300 borrowers. Department of Education’s fixes to its income-driven repayment plans and Public Service Loan Forgiveness program. billion in loan cancellation, the U.S.

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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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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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Collection Industry News

DECEMBER 22, 2023

Whether it has been a good or bad year for student loan borrowers depends on who you ask. While a large number of borrowers got life-changing emails this year saying their loans had been forgiven, plenty of others received bills in October that they would, in fact, be expected to pay.

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Collection Industry News

OCTOBER 6, 2023

President Joe Biden announced Wednesday that he approved $9 billion in student loan forgiveness for 125,000 Americans. The relief is a result of his administration’s fixes to a number of programs, including the income-driven repayment plans and Public Service Loan Forgiveness.

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Collection Industry News

JUNE 5, 2022

senators have proposed major changes to student loan forgiveness. Here’s what you need to know — and what it means for your student loans. Student Loans. billion of student loan cancellation , which is the largest amount in U.S.

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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. Luckily, there are options for student loan forgiveness—which can wipe away some or all of what you owe. What is student loan forgiveness? The big federal loans.

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Collection Industry News

JANUARY 30, 2024

The Biden administration announced on Wednesday that it will try to deliver student loan forgiveness to borrowers experiencing financial hardship. In what has become known as Biden’s Plan B for student loan forgiveness, the president has turned to the rulemaking process. 22 and Feb.

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Collection Industry News

SEPTEMBER 6, 2023

Department of Education has made to income-driven repayment (IDR) and Public Service Loan Forgiveness (PSLF), and granting automatic relief for borrowers with total and permanent disabilities. billion in additional debt relief for 53,000 borrowers under Public Service Loan Forgiveness programs.

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Nerd Wallet

OCTOBER 13, 2022

The Public Service Loan Forgiveness program is sometimes criticized for providing debt relief to borrowers working in public service who took on high loan amounts and earn enough income to repay their debt. Anna Helhoski writes for NerdWallet. Anna Helhoski writes for NerdWallet.

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Collection Industry News

AUGUST 8, 2022

Republicans have proposed a blockbuster new plan for student loan forgiveness. Here’s what you need to know — and what it means for your student loans. Student Loans President Joe Biden is days away from announcing his decision on broad student loan forgiveness. prevent the U.S.

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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. It can be very difficult for college graduates to balance their daily financial needs with the obligation to repay massive student loans. Some of these borrowers will eventually end up defaulting on their loans.

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Collection Industry News

AUGUST 23, 2022

Education Secretary Miguel Cardona on Sunday said the Biden administration is due to announce a decision on whether to extend a pause on federal student loan debt in the next week, butting up to an Aug. 31 deadline when the current moratorium on loan payments expires. Public Service Loan Forgiveness was broken,” he said. “We

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Collection Industry News

JANUARY 5, 2023

Student loan borrowers are starting 2023 with a lot of uncertainty. The fate of President Joe Biden’s major student loan forgiveness program lies with the US Supreme Court , and it could be as late as summer before the justices rule on whether the policy can take effect.

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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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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

OCTOBER 10, 2022

The CFPB released a special edition of Supervisory Highlights on student loan servicing practices of loan servicers and schools lending to students directly. In particular, examiners observed servicers misrepresenting eligibility dates and the requisite number of payments to qualify for relief.

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Troutman Sanders

NOVEMBER 2, 2023

Specifically, the intent behind the amendments was to address ED’s concerns about the number of colleges that closed abruptly, leaving students with few, if any options to complete their programs and taxpayers on the hook for student loan discharges. Requiring institutions to provide adequate career services.

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Nerd Wallet

OCTOBER 23, 2020

There’s no simple way to get rid of student loans without paying. But for federal student loans, there are forgiveness programs available after you make payments and meet other qualifications. The article How Can I Get Rid of Student Loans Without Paying? Anna Helhoski is a writer at NerdWallet.

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Collection Industry News

JUNE 28, 2022

About 2 million federal student loan borrowers, many of whom are seeking debt relief from the Public Service Loan Forgiveness program, will get a new federal student loan servicer as soon as early July. The loans are being transferred, not sold. Source: site.

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Troutman Sanders

FEBRUARY 13, 2024

Gemini had alleged that Genesis pledged more than 61 million shares of Grayscale to secure loans, then defaulted on the loans. The case, Department of Agriculture Rural Development Rural Housing Service (USDA) Kirtz , involved a borrower who claimed the USDA inaccurately reported his loan as “past due,” damaging his credit score.

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Collection Industry News

SEPTEMBER 30, 2023

After a three-and-a-half year pandemic-era pause, US federal student loans start accumulating interest again from Friday, with repayments set to cut the monthly take-home pay of millions of Americans by hundreds, and in some cases thousands, of dollars. trillion, according to data from the Department of Education. .

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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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Collection Industry News

JUNE 13, 2022

Department of Education is not ready for student loan forgiveness — a top lawmaker says — and the results could be a disaster for student loan borrowers. . Here’s what you need to know — and what it means for your student loans. Student Loans. Student loan forgiveness: 7 questions.

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Collection Industry News

OCTOBER 22, 2023

Amberlee McGaughey, a librarian in Pennsylvania, was not worried about the restart of student loan payments. In August, she applied for the Public Service Loan Forgiveness program with her loan servicer, MOHELA, or the Missouri Higher Education Loan Authority. exceeds $1.7

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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. The Biden-Harris Administration has made clear that we will not allow borrowers to pay the price for unacceptable servicing failures,” said U.S. “The

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Fraser

OCTOBER 14, 2022

. ——— Student Loan Forgiveness Will Not Be Taxed. Earlier this month with legislative bipartisan support, it was announced that Michigan will not collect taxes as revenue on the federal student loan forgiveness or the state’s Public Service Loan Forgiveness program.

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Collection Industry News

OCTOBER 21, 2022

It seems that some Americans simply cannot stomach the idea of student loan borrowers getting debt relief, as lawsuits keep pouring in challenging President Joe Biden’s loan forgiveness plan, which is already in the application stage. board loan??forgiveness, The Cato suit alleges that by providing across??the??board

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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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