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A borrower is a "new borrower" if, when receiving a federal student loan on or after October 1, 2007, the borrower did not have an outstanding balance on another federal student loan. [2] The Revised Pay As You Earn Plan is available to all Direct Loan borrowers regardless of when the money was borrowed.
Even though the U.S. Supreme Court struck down President Biden's proposal for student loan forgiveness, more than 43 million Americans with student loan debt could still benefit from a different,...
In October, student loan repayments resumed after years of being paused in wake of the pandemic. Consequently, for millions of Americans, the pressure to pay down their student loan debt is back ...
Student loan refinancing can help some borrowers save money by allowing them to swap out their existing loans with a new private loan with a lower rate. That said, it’s not the right choice for ...
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]
The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service. [1]
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