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Some checks are starting to be sent to certain student loan borrowers even though, as result of a court order, the Biden administration is temporarily blocked from processing debt discharges. SNAP...
More than 7,100 student loan borrowers will receive $3.5 million in refund checks after a consumer protection agency said they were scammed by a student debt relief company in renegotiating ...
You can get a refund without applying if your payments brought your loan balance below the maximum debt relief amount: $10,000 for all borrowers, and $20,000 for Pell Grant recipients.
Defaulting on a loan happens when repayments are not made for a certain period of time as defined in the loan's terms of agreement, typically a promissory note. For federal student loans, default requires non-payment for a period of 270 days. For private student loans, default generally occurs after 120 days of non-payment. [1]
In 10 years, the loan program experienced 230% growth in the loan portfolio and 130% growth in the loan recipients. Student loan debt in 2019 is the highest it has ever been. According to the latest loan debt statistics, student loan debt has become the second highest consumer debt category behind mortgage debt. [15]
A student loan is a type of loan designed to help students pay for post-secondary education and the associated fees, such as tuition, books and supplies, and living expenses. It may differ from other types of loans in the fact that the interest rate may be substantially lower and the repayment schedule may be deferred while the student is still ...
With student loan forgiveness still uncertain, borrowers can expect more changes -- and perhaps some potholes -- on the road to paying down student loan debt. As part of the Biden administration's...
On January 13, the Education Department announced $4.2 billion in debt cancellation for 152,000 borrowers, bringing the total student-debt relief under Biden to over $180 billion for 5.3 million ...