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Now that the student loan payment pause has come to an end, the reality of monthly student loan payments is sinking in. But thankfully, now there’s a benefit that student loan borrowers can ...
The Department of Education announced on Aug. 14 that automatic discharges would begin for 804,000 borrowers who qualify for $39 billion in student loan relief due to fixes to income-driven ...
Although borrowers were granted a stay of student loan payment since the start of the pandemic in March of 2020, many vulnerable borrowers will struggle to pay their bills when payments resume on...
Starting in March 2020, federal student loan borrowers received temporary relief from student loan payments during the COVID-19 pandemic. [37] This relief was subsequently extended multiple times, and is set to expire at the end of June 2023. [38]
Instead loans will be administered directly by the Department of Education. [25] Increasing the Pell Grant scholarship award. For new borrowers of loans starting in 2014, those who qualify would be able to cap the amount they must spend on loan repayment each month to 10% of their discretionary income, down from 15%. [24]
The government is set to shut down on Sunday, Oct. 1 — the same day student loan payments are set to resume for the first time since 2020.
Prior to the pandemic, one in four student loan borrowers was past due or receiving some form of payment assistance on their student loans. With the defeat of student loan forgiveness via the ...
The Biden administration plans to restart student loan payments no later than 60 days after June 30, 2023, he added. Based on that schedule, you can expect to resume payments on or before Aug. 29.