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If the plan is finalized, the federal Education Department estimates that roughly 8 million student loan borrowers could be eligible for relief. White House issues new student debt relief plan ...
The Biden administration aims to tackle "runaway interest" as part of a new student debt relief measure. If successful, it could bring relief to 23 million borrowers.
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 ...
In 2018, the group joined the American Federation of Teachers to launch an investigation into the failure of the Public Service Loan Forgiveness program. [15] Over the course of three years, Student Borrower Protection Center supported litigation by teachers and uncovered evidence of government mismanagement and industry abuses across the student loan system, including evidence that Public ...
In June 2010, the amount of student loan debt held by Americans exceeded the amount of credit card debt held by Americans. [24] At that time, student loan debt totalled at least $830 billion, of which approximately 80% was federal and 20% was private.
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]
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