What to know about the major student loan changes coming July 1
The changes will affect how much students and their parents can borrow, as well as their repayment options.
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The changes will affect how much students and their parents can borrow, as well as their repayment options.
A new report finds Loyola and DePaul universities in Chicago are among 41 colleges that appear to push lower-income families toward high-interest Parent PLUS loans.
If you have defaulted on your student loans, the Trump administration said it will begin garnishing wages again in 2026.
The Trump administration last month started garnishing paychecks and Social Security benefits to collect defaulted loans.
CBS News Business Analyst Jill Schlessinger gives advice and tips on how to save for college and take advantage of programs offered by state and federal governments to make sure getting an education doesn't empty your bank account.
More than 9 million borrowers could see their credit scores tank in the first quarter of 2025 according to the Federal Reserve Bank of New York, and 15% of federal student loans were past due at the end of 2024.
The Department of Education doesn't oversee school curriculums, but it does offer a range of services affecting millions of Americans.
The program promises to erase loans for 55,000 workers after ten years in government or non-profit jobs.
President-elect Donald Trump has called the Biden administration's student loan relief efforts a "total catastrophe."
A federal judge in Georgia made a ruling that would allow for the Biden administration's sweeping relief that affects tens of millions of American borrowers.
A major student loan deadline has passed—ending years of pandemic-related pause on payments. Experts Thursday night had some good news—and a word of warning about scams targeting borrowers. Sara Machi reports.
The scam offers fake promises of lower monthly payments or loan forgiveness with immediate results and demands upfront fees.
The 12-month grace period for student loan borrowers ended Sept. 30. The "on-ramp" period helped borrowers struggling to make payments avoid the risk of defaulting and hurting their credit score.
In addition to the $120 million settlement, Navient will also be permanently banned from managing federal student loans.
Millions are in limbo after the U.S. Supreme Court continues to block President Biden's "SAVE" student loan repayment plan. It's on hold as a U.S. Circuit Court of Appeals decides whether it's lawful, which could take weeks. So, what should you do in the meantime?
College students can expect some sticker shock as interest rates on federal student loans will increase on July 1.
It's college graduation season and new grads will be entering the workforce with many now having to pay off student debt. CBS News Business Analyst Jill Schlesinger has some suggestions.
The White House is turning to other methods to erase student debt after the Supreme Court blocked its broader effort to forgive loans.
President Joe Biden stopped in the battleground state of Wisconsin on Monday to lay out details of his new student loan debt relief plan for millions of Americans.
The White House is helping people who serve the country. They include public service workers like firefighters, nurses, teachers, and more who've been in their jobs for at least a decade.
About 78,000 people will receive an email from President Joe Biden telling them that their loans are canceled. Here's what to know.
This latest $4.8 billion in relief brings the grand total of approved debt cancellation by the administration to $132 billion for over 3.6 million Americans.
After a three-year pause, federal student loan payments are set to resume for around 40 million Americans in October. CBS 2 speaks with a local financial expert about the new affordable repayment plan. Jordan Flowers with Wealth Financial Services & Tax Advisory breaks down how to see if you are eligible to apply to the program and other tips for paying off the debt.
After a three-year hiatus, interest on student loans begins piling up again on Friday, with payments due in October.
Last week the Supreme Court struck down the Biden Administration’s plan to cancel $430 billion worth of federal student loans, eliminating $20,000 in student loans for millions of Americans. If you’re wondering what’s next, CBS News Business Analyst Jill Schlesinger has tips on what borrowers can do before loan repayments resume on Oct. 1.
Robert Magiet bought and is donating more than 30 air conditioners this week.
It was Suzuki's second career game-ending hit and Chicago's major league-leading 10th walk-off win this season.
Colson Montgomery hit a go-ahead double in the eighth inning, Jacob Gonzalez drove in three runs and the Chicago White Sox beat the Baltimore Orioles 8-2 on Monday night in the opener of their series.
One of the men then smashed our photographer's camera while the other smashed the windshield of our news truck.
The hottest days this week are expected to be Tuesday and Wednesday, with feels-like temperatures between 105 and 110 degrees.
Gov. JB Pritzker signed more than 60 bills since Friday, including new laws to increase transparency around rental fees and give some drivers an alternative to having their license suspended.
Chicago Mayor Brandon Johnson introduced a new ordinance Monday morning he said will increase protections for the city's renters.
The Supreme Court overturned a 90-year-old decision that allowed Congress to shield members of certain independent agencies from being fired by the president at will.
The Supreme Court allowed Lisa Cook to continue in her post as a member of the Federal Reserve Board of Governors while legal proceedings over President Trump's attempt to fire her continue.
The Supreme Court on Monday ruled that states can count mail ballots that are cast by Election Day but arrive later, rejecting a GOP challenge to a Mississippi law.
Illinois Gov. JB Pritzker on Thursday signed several new consumer protections into law, including a ban on junk fees.
CBS News Chicago has learned that Illinois home insurance premiums are not only higher than the nation's average, but going up faster too.
As an alternative to legalizing video gambling terminals citywide, Bally's offered to open slot machine lounges at O'Hare and Midway, saying the move would replace the $6.8 million the city budgeted from VGTs.
An Illinois law banning "swipe fees" on taxes and tips — already delayed twice by lawmakers — appears to be on life support after a federal judge that once permitted it issued a permanent injunction against it this week.
A new study from the Cook County Treasurer's office underlines growing concerns about the impact the Illinois megaprojects bill could have on the county's property tax base and overall fiscal health.
The north Chicago suburb of Glenview became the latest Illinois municipality this week to confirm mosquitoes testing positive for the West Nile virus this year.
Environmental and community groups are suing the U.S. Environmental Protection Agency for failing to act on a petition challenging U.S. Steel Gary Works operating permit renewal.
In the four years since Roe v. Wade was overturned and Illinois became a destination for abortion care, Illinois providers and advocates have rebuilt the state's infrastructure to support the tens of thousands of people who travel to the state for abortion services every year.
June is National Aphasia Awareness Month, raising awareness of a disorder that affects a person's ability to speak, write, and understand both spoken and written language.
The Chicago Department of Public Health issued a warning Tuesday about a possible measles exposure at O'Hare International Airport.
The Chicago Bears this weekend said they are assessing land at Wolf Lake Terminals in Hammond, Indiana, for a possible new stadium.
As an alternative to legalizing video gambling terminals citywide, Bally's offered to open slot machine lounges at O'Hare and Midway, saying the move would replace the $6.8 million the city budgeted from VGTs.
Daley's Restaurant, known as Chicago's oldest, has served Chicago's Woodlawn neighborhood for more than 130 years.
Walgreens is set to close in Chicago's Chatham neighborhood on Thursday, and there's growing concern about where families will get their medications.
The owners of Gene & Georgetti steakhouse are suing a concessions operator over their expansion at Midway International Airport.
Chicago rapper Twista has pleaded guilty to willfully failing to pay income taxes.
Lionel Richie's Chicago concert at the United Center has been postponed after the singer became sick at his tour opener in St. Paul, Minnesota.
Legendary musician Lionel Richie had to cut his performance short Wednesday night in St. Paul, Minnesota, leaving fans with many questions.
Clive Davis helped shape the careers of music stars including Janis Joplin, Bruce Springsteen and Whitney Houston.
Claude Guillemot and a flight instructor were flying in a twin-motor Cessna 421 on Friday evening. An investigation into the crash is underway.
Chief Meteorologist Albert Ramon is tracking the latest on the dangerous heat and when the Chicago area will get some relief in First Alert Weather
The bought and is donating more than 30 air conditioners this week to give some residents relief from the stretch of extreme heat.
The new flag features an orange and yellow flame set against a green field—inspired by the "Skokie Spirit" stained glass at village hall.
The char-grilled Vienna beef hot dog is infused with giardiniera and provolone and is only offered for a limited time.
A reporter and photographer were preparing to go on the air during the 4 p.m. newscast when two men in a white tow truck rushed at them while shouting racial slurs targeted at one of our journalists.
One of the men then smashed our photographer's camera while the other smashed the windshield of our news truck.
A Chicago Transit Authority switch worker was shot and killed in Chicago's Roseland community early Monday morning.
Robert Magiet bought and is donating more than 30 air conditioners this week.
Chicago Mayor Brandon Johnson introduced a new ordinance Monday morning he said will increase protections for the city's renters.
The hottest days this week are expected to be Tuesday and Wednesday, with feels-like temperatures between 105 and 110 degrees.
An Uber driver who was assaulted during a ride said he begged Chicago police officers not once but twice for help, but was left to fend for himself.
CBS News Chicago has learned that Illinois home insurance premiums are not only higher than the nation's average, but going up faster too.
The Cook County Sheriff's Office has been a part of Illinois' enhanced CTA security plan and state-led task force dedicated to making it safe since the end of March. Their officers have worked more than 4,000 hours a month.
A rideshare driver was shot in Chicago's North Lawndale neighborhood on Monday night.
After a violent holiday weekend, Chicago city leaders are expected to announce new support for a dedicated Department of Gun Violence Prevention.
It was Suzuki's second career game-ending hit and Chicago's major league-leading 10th walk-off win this season.
Colson Montgomery hit a go-ahead double in the eighth inning, Jacob Gonzalez drove in three runs and the Chicago White Sox beat the Baltimore Orioles 8-2 on Monday night in the opener of their series.
A memorial service was held Monday morning for Chicago Bulls broadcaster and three-time NBA champion Stacey King.
NASCAR is back in town next weekend, but not for a downtown street race — this time, for the first time in seven years, races will be held at Chicagoland Speedway in Joliet.
Jacob Webb (3-2) got the win with a scoreless ninth. Wicks notched his first save of the season.
A man was sentenced to eight years in prison earlier this month for robbing a mail carrier on Chicago's Near West Side back in 2022.
A new trial was denied Monday for Marni Yang, who is serving life in prison for a 2007 shooting that left a romantic rival dead.
A Chicago Transit Authority switch worker was shot and killed in Chicago's Roseland community early Monday morning.
A man was stabbed in the Printers Row district in downtown Chicago early Monday morning.
An Amazon Fulfillment Center in Matteson, Illinois, became a crime scene overnight Sunday into Monday, after an employee was shot and killed.
