Currently Browsing:Student Loan Debt

Federal loans have programs to remove borrowing from default and set up payments based on income for a fixed number of years. If all payments are made the balance of the loan is forgiven. For those who work for non profit company, their loan can be forgiven after just ten years of payments.

Introduction: It’s about Forgiveness AND Lower Payments Student loan forgiveness can vary widely in both timing and the amount forgiven depending on the individual program. The good news is even with some forgiveness programs taking time; there are often ways to lower your student loan payment in less than 60 days. With so many options

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Like a spaghetti western, student loan borrowers have to keep an eye out for trouble coming out of the shadows. There were a number of notable developments — good and bad — for student loan borrowers in 2017, and even bigger changes are likely to be in store for 2018. Now that Congress has had

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Parents funded 31% of college costs for their children in the 2016 to 2017 school year, according to Sallie Mae’s comprehensive look at How America Pays for College. While most of this cash came from savings, parents borrowed money to pay around 8% of costs associated with college for their kids. Parents who are taking

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It remains to be seen whether the big three loan servicers will continue to compete for borrowers next year. Three companies are now responsible for collecting payments on more than 90 percent of outstanding federal student loan debt, after antitrust regulators raised no objections to Nelnet’s acquisition of a larger rival, Great Lakes Educational Loan

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400,000 were promised student loan forgiveness. Now they are panicking  More than 400,000 student loan borrowers may have placed their faith in a government program with an uncertain future. The Public Service Loan Forgiveness Program promises to cancel any remaining student debt for those who work for the government or nonprofits if they have been

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Do You Need a Student Loan Ombudsman? As outstanding student loan debt stays above the trillion-dollar mark, many fresh graduates are faced with the seemingly insurmountable task of paying down their loans in a weak labor and economic environment. For many new grads, the student loan payments have started rolling in, but a steady and

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US student debt tops $1.31 trillion: Does Betsy DeVos have a plan? The growth of student loans drove or a substantial increase in household debt last year, say experts. FEBRUARY 18, 2017 —Student loans were the leading cause for a substantial increase in household debt last year, the Federal Reserve Bank of New York said

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Student loan forgiveness may be a sweet deal for borrowers, who have collectively accumulated more than $1.3 trillion in debt. The downside: a potentially big tax bill down the road. The federal government currently offers two types of loan forgiveness for student debt: public service loan forgiveness and loan forgiveness provided by income-based repayment plans,

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For-Profit Colleges Account for a Third of All Federal Student Loan Defaults Even though they account for just 26% of all federal loans. Over one-third of federal student loan defaults can be attributed to students at for-profit schools. Students at for-profit colleges accounted for 35% of defaults during the three year period starting in 2013—down

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Makenzie Vasquez, of Santa Cruz, Calif., poses for a picture in Washington, Monday, March 30, 2015. Former and current college students calling themselves the “Corinthian 100” say they are on a debt strike and refuse to pay back their student loans. Manuel Balce Ceneta / AP Students at the abruptly shuttered Corinthian Colleges campuses have

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