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The U.S. Department of Education extended the student loan pause through May 1, 2022, and given all the changes that have happened over the past two years, borrowers must start preparing now for...
For 42.9 million student loan borrowers , it’s been 18 months without a payment. The interest-free federal student loan payment pause, known as a forbearance, was extended three times after it ...
Around 44% of federal student loan borrowers who begin repayment in October have a new loan service provider, according to the Consumer Financial Protection Bureau, after three loan service ...
The Biden administration pushed back the restart of federal student loan payments, paused during the pandemic.
The restart in payments already faces complications. More than 44% of borrowers have a new loan servicer since the pandemic began and payments were put on pause. When a new loan service provider ...
In 2021, student loan servicers began dropping out of the federal student loan business, including FedLoan Servicing on July 8, Granite State Management and Resources on July 20, and Navient on September 28. [40] According to Sallie Mae, as of 2021, 1 in 8 families are using private student loans when federal financing does not cover all ...
On Wednesday, Aug. 24 the Biden Administration announced a four-month extension on student loan repayments, expanding the two-year suspension on federal student loan payments and accruing interest...
About 28 million borrowers will be expected to make a payment in October.