Account Recovery

OCTOBER 3, 2022

The legal challenges to the federal government’s plan to cancel student loan debt for individuals making less than $125,000 a year have started, with a pair of suits claiming the administration failed to take the proper steps before announcing the plan.

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Account Recovery

AUGUST 25, 2022

Surprising nobody yesterday, President Biden announced that the federal government will forgive up to $10,000 in student loan debt for anyone making less than $125,000 per year and up to $20,000 for anyone with a Pell grant, while also extending the moratorium on making student loan payments through the end of the year.

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Account Recovery

SEPTEMBER 28, 2022

The Biden Administration’s student loan debt cancellation plan will cost the government $400 billion, according to a report released yesterday by the nonpartisan Congressional Budget Office.

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Account Recovery

JUNE 22, 2022

A bill has been introduced in the House of Representatives that, if enacted, would prohibit the federal government from cancelling or forgiving federal student loans because the government does not have the authority to do so and because it’s “unfair for taxpayers who paid student loans or did not attend college to pay for those … (..)

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Account Recovery

OCTOBER 17, 2022

While the federal government still works out all the kinks related to its plan to forgive student loan debt for individuals, the rest of the country is already moving on to the next type of debt they want to see forgiven — medical debt.

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Student loans Student Loans Loans Government 245

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

DECEMBER 23, 2021

Back in August, the government announced a … The post Student Loan Repayment Moratorium Extended Until May appeared first on AccountsRecovery.net. As a parent, one of the most important lessons I have learned is that don’t say something unless you mean it and intend to follow through on it.

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Student loans Student Loans Loans Education 245

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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Student loans Student Loans Loans Government 242

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

NOVEMBER 23, 2022

GOVERNMENT EXTENDS PAUSE ON STUDENT LOAN PAYMENTS UNTIL LEGAL CHALLENGES ARE RESOLVED The Biden Administration yesterday announced it was extending the moratorium on student loan payments until 60 days after litigation surrounding the plan to forgive up to $20,000 in unpaid student loans is resolved.

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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

MARCH 31, 2023

Not content with hoping that the Supreme Court will strike down a program started by the federal government to wipe out as much as $20,000 in student loan debt for individuals, a number of Republicans have started the process of using the Congressional Review Act to keep the program from ever being implemented.

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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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Student loans Student Loans Loans Government 246

Nexa Collect

JUNE 30, 2023

On 30 June 2023, the Supreme Court of USA ( SCOTUS), strikes down the Student Loan Forgiveness program proposed by the Biden administration. This could have tremendously helped borrowers but was unfair to taxpayers and students who paid their fees on time. Striking down a relief plan could exacerbate these disparities.

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Student loans Student Loans Loans Education 130

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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Student loans Student Loans Loans Government 130

Account Recovery

JUNE 1, 2021

Previously, state attorneys … The post Cordray Signs Off on Policy Making it Easier for Student Loan Companies, Collectors to be Investigated appeared first on AccountsRecovery.net.

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Student loans Student Loans Loans Education 246

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

OCTOBER 24, 2022

Nearly 22 million individuals applied for the federal government’s student loan forgiveness program in its first week of operation, President Biden said on Friday, the same day that the Court of Appeals for the Eighth Circuit temporarily stopped the program from going into effect, following a lawsuit that was filed by six states.

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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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Account Recovery

APRIL 10, 2024

A second group of Republican state Attorneys General yesterday announced they had filed a lawsuit against President Biden and the federal government seeking to block the enactment of its income-driven repayment program called Saving on a Valuable Education (SAVE).

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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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Student loans Student Loans Education Loans 244

Sawin & Shea

OCTOBER 5, 2022

Student loan debt is a serious problem in the United States, and it’s an issue that impacts millions of Americans. As of January 2022, around 45 million people have student loan debt, which is 13.5% The total collective amount of federal and private student debt is around $1.75 of the US population.

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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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Student loans Student Loans Loans Garnishment 98

Consumer Finance

APRIL 9, 2024

CFPB Director Rohit Chopra provided remarks at Rutgers Law Center School Center for Corporate Law and Governance on student-loan securitization.

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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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Better Credit Blog

JUNE 1, 2022

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. Table of Contents: Federal Student Loans. Private Student Loans.

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Account Recovery

MARCH 25, 2024

The federal government last week announced it had forgiven an additional $6 billion of student loan debt for 77,000 individuals under the Public Service Loan Forgiveness program, while also notifying 380,000 other public service workers that they are on track to have their loans forgiven within the next two years.

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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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Student loans Student Loans Loans Education 52

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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Student loans Student Loans Loans Education 88

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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Collection Industry News

DECEMBER 7, 2021

Earlier this month, the federal Education Department announced it is canceling another round of student loan payments, adding that those eligible are now being notified via email. The new round will cancel loans worth $2 billion, reported Yahoo Money. Government Writes Off $2 Billion In Student LoansU.S.

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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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