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Student Loans

All articles tagged with #student loans

education2 days ago

Hundreds of Borrowers Grapple with Higher Payments as SAVE Ends and PSLF Uncertainty Looms

Business Insider gathered responses from more than 400 student-loan borrowers about repayment and relief experiences amid sweeping changes to federal programs, including the elimination of the SAVE plan, new repayment rules, and PSLF uncertainty. Many fear higher monthly bills, potential wage garnishments for defaults, and difficulty getting help from servicers, even as a subset reported forgiveness or progress toward forgiveness.

via Business Insider|
#debt-relief#education#pslf
finance20 days ago

He Paid Off My Tuition Before Passing, Am I Responsible for the Loans?

A person learns after their father's death that he paid off their school tuition with $90,000 in loans. Since the loans were not in the person's name or cosigned, they are not responsible for the debt, which depends on the type of loans and the estate. Generally, family members are not liable for deceased relatives' debts unless they co-signed or are legally responsible.

via Yahoo Finance|
#debt-responsibility#finance#financial-planning
education22 days ago

Trump administration to resume wage garnishments for defaulted student loans in January

The Trump administration announced it will start garnishing wages of defaulted student loan borrowers early next year, beginning with notices to about 1,000 borrowers in January, as part of efforts to recover debt after ending a pandemic-era payment pause. Critics argue this move is harsh amid economic struggles, while the administration emphasizes providing notice and opportunities for repayment.

via PBS|
#default#education#federal-loans
education22 days ago

Trump administration to resume wage garnishment for defaulted student loans

The Trump administration will begin garnishing the wages of defaulted student loan borrowers starting in January, affecting around 1,000 people initially, with the number expected to rise. The government can seize up to 15% of a borrower's after-tax income, leaving them with at least $217.50 weekly, as part of its efforts to recover federal debts amid a rising default rate among over 42 million student loan holders with more than $1.6 trillion in debt.

via CNBC|
#default#education#education-policy
personal-finance26 days ago

US Student Loan Crisis: Defaults, Delinquencies, and Lifelong Debt Challenges

Many Americans are now living with student loans for their entire lives, with some borrowers, like Tala Henry-Halabi and Tammy Sabens, facing decades of debt that significantly impact their lives and retirement plans, highlighting systemic issues in the US student loan system that make debt forgiveness and manageable repayment difficult.

via MarketWatch|
#debt#financial-struggles#lifelong-debt
education2 months ago

US Education Department Announces Major Student Loan Reforms and Borrowing Caps

The Department of Education finalized negotiations on President Trump's student-loan repayment overhaul, which includes replacing income-driven repayment plans with new options, instituting borrowing caps on graduate and professional loans, and eliminating the Grad PLUS program. These changes are set to take effect in July 2026 and aim to make higher education more affordable and hold universities accountable for costs.

via Business Insider|
#borrowing-caps#education#income-driven-plans
economy2 months ago

US Household Debt Reaches New Highs Amid Rising Financial Strain

Americans' household debt has reached a record high of $18.59 trillion, driven by increases in mortgages, student loans, credit cards, and auto loans, with student debt hitting $1.65 trillion and delinquency rates rising, especially among student borrowers, though overall household financial health remains relatively strong according to the Federal Reserve Bank of New York.

via abcnews.go.com|
#auto-loans#credit-cards#economy