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Congressional Democrats introduced legislation on July 27 that would lower student loan interest to 0%, while capping rates for future borrowers. If passed, this would be a huge help to 44 million...
The proposal announced last week would fully wipe accrued interest for 23 million student loan borrowers, eliminating college debt for 4 million Americans. Overall, 10 million borrowers would see ...
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]
Federal student loans are no longer interest-free as of Sept. 1.
Student loans may be discharged through bankruptcy, but this is difficult. [2] Research shows that access to student loans increases credit-constrained students' degree completion, later-life earnings, and student loan repayment while having no impact on overall debt. [3]
In times of low or no income, you can defer payments on government-held student loans without damaging your credit score. Student loan forgiveness is also a potential benefit for those in certain ...
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