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Education Government Student Loans 
Account Recovery
OCTOBER 23, 2024
The Department of Education is making its student loan collection on-ramp a little longer, announcing that it will start reporting late or missed student loan payments to credit bureaus in early 2025, a delay from the originally planned start date this month.
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Account Recovery
MAY 15, 2023
The moratorium on student loan payments has cost the federal government $160 billion in lost assets and the federal government should be ordered to force individuals with unpaid student loan debts to start repaying them, according to a nonprofit think-tank that is seeking a preliminary injunction against the Department of Education.
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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
AUGUST 16, 2023
A District Court judge in Michigan has dismissed a lawsuit that challenged an initiative from the federal government seeking to forgive $39 million of student loan debt, determining the plaintiffs lacked standing to sue. Well, that didn’t take very long.
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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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Account Recovery
APRIL 15, 2024
The federal government announced on Friday that it had approved an additional $7.4 billion in student loan debt relief for nearly 300,000 borrowers, many of whom were signed up for the administration’s new income-driven repayment program.
147 
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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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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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?
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
JULY 30, 2020
As of February 2020, student loan debt in the United States reached a record total of $1.6 Many people are struggling to pay student loans and taking part in various deferment and other assistance programs. Find out more about stimulus help for student loans below. Try ExtraCredit.
Better Credit Blog
JUNE 1, 2022
This time can also be stressful, though, as obtaining a college education is pricey. 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.
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.
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 Act also included assistance for most student loan borrowers who face financial hardship due to the economic impact of the COVID-19. Help Available for Borrowers with Student Loans.
Credit Corp
AUGUST 4, 2020
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. Student loans, including private and federal loans , are also commonly used to fund college.
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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.
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.
Nerd Wallet
SEPTEMBER 23, 2021
The debate over student loan debt often neglects a significant group: parents. About 1 in every 3 dollars the federal government lent for undergraduate education last year were in a parent’s name. In total, federal parent loan debt is over $103 billion across more than 3.6 Cecilia Clark writes for NerdWallet.
Troutman Sanders
JULY 19, 2021
Court of Appeals for the Second Circuit ruled that private student loans are not explicitly exempt from a debtor’s Chapter 7 bankruptcy discharge. The discharge order did not specify whether it applied to the borrower’s two private student loans, totaling $12,567. qualified private educational loans.
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." * * *.
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.
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.
Collection Industry News
FEBRUARY 21, 2022
Washington, D.C. – Today the Consumer Financial Protection Bureau (CFPB) released a bulletin detailing student loan servicers’ obligation to halt unlawful conduct regarding borrowers’ eligibility and benefits under the Public Service Loan Forgiveness (PSLF) Waiver. Secretary of Education Miguel Cardona. “I Source- site.
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.
Collection Industry News
FEBRUARY 7, 2022
BOSTON — Navient, a major student loan collecting company, agreed to cancel $1.7 Navient is and has been continually focused on helping student loan borrowers understand and select the right payment options to fit their needs,” Chief Legal Officer Mark Heleen said in a statement. The company agreed to cancel $1.7
Nerd Wallet
OCTOBER 19, 2020
Key takeaways FFEL loans are federally backed loans that were originally funded by private companies. The FFEL Program ended in 2010, and some FFEL loans are now owned by the federal government. Borrowers with FFEL loans may want to consolidate to take advantage of more student loan benefits.
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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.
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. New Yorkers work hard for every dollar they earn and the student loan forgiveness plan will be critical to helping reduce the pressures of mounting debt,” Hochul said.
Collection Industry News
JUNE 6, 2024
In its first case under the Impersonation Rule, the Federal Trade Commission has stopped a student loan debt relief scheme that bilked more than $20.3 million from consumers seeking debt relief by pretending to be affiliated with the Department of Education.
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.
True Accord
JULY 13, 2023
The ending of various pandemic-era benefits including the pause on student loan payments will impact consumers in the coming months. The federal government has projected that about 15 million people will lose coverage , including nearly seven million people who are expected to be dropped despite still being eligible. 9%) to $17.05
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. Brad Dress, August 21, 2022.
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.”
Collection Industry News
JULY 18, 2022
A new poll shows 51% of Americans support the idea of President Joe Biden canceling $10,000 of student loan debt for each borrower, illustrating how split the public is regarding one of the president’s early campaign promises. trillion in student loan debt is a problem, according to an Economist/YouGov survey of 1,500 U.S.
Titan Consulting
AUGUST 23, 2020
In addition to the fees you will pay to courts and your attorney, you will also incur fees for court approved financial education courses you must successfully complete to have your debts discharged. Bankruptcy does not generally discharge debts associated with child support, alimony, tax obligations, or student loan debt.
Collection Industry News
FEBRUARY 6, 2024
Unlike many Americans with crushing student loan debt, the 44-year-old father of three from Knoxville, Tennessee, thought his debt had been canceled. But when the pandemic-era hold on loan payments lifted, the hefty deduction popped up again on his balance. Education Department. Or the government isn’t sure if it has.
Credit Corp
AUGUST 5, 2021
First-generation college students face many social and economic challenges in preparing for and applying to colleges. You’ll find people are eager to share their experiences and hints about getting started and sticking with it when you hit the inevitable bumps in the road every college student encounters.
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Collection Industry News
SEPTEMBER 28, 2021
Student loan debt for older adults, their children, and their grandchildren has been rising for decades. Debt undermining retirement security is a sinister and under-appreciated problem, but the United States Government Accountability Office (GAO) is catching on. Low-Income Elders Hurt Worse By Student Debt.
Collection Industry News
JULY 22, 2023
The Biden administration announced Friday it would automatically forgive $39 billion in student debt for 804,000 borrowers. The relief is a result of fixes to the student loan system’s income-driven repayment plans. Secretary of Education Miguel Cardona said in a statement.
Troutman Sanders
JANUARY 9, 2024
They allege that the dealer deceived consumers about the price of certified used cars, add-ons, and government fees. On December 27, 2023, the FTC filed suit against Grand Canyon Education, Inc., (GCE) For more information, click here. For more information, click here. For more information, click here. For more information, click here.
National Service Bureau
SEPTEMBER 9, 2015
It’s no secret that student debt is at an all-time high. According to the US Department of Education, there are more than 40 million student loan borrowers who owe more than $1.2 A college education is practically the new high school equivalent - it’s pretty much expected to get a job. Let’s take a look at why….
Better Credit Blog
APRIL 2, 2022
Loan Terms. Life Insurance, Student Loan Refi, Credit Card Comparisons. How Does A Fiona Loan Work? Fiona works as an aggregator for personal loan lenders ; it does not actually fund any personal loans itself. Student Loan Refinancing. 24 – 84 months. Minimum Credit Score. 620 for best results.
National Service Bureau
JULY 7, 2015
Introduction to the Cohort Default Rate: When students default on their federal student loans the government and by consequence, taxpayers, lose money. As a consequence and to prevent abuse, the federal government sanctions schools with a cohort default rate over a certain percentage.
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