Student loan defaults surging in wake of COVID-tied payments pause expiration
Defaults on student loans have surged across the United States, reaching record levels as borrowers struggle to keep up with payments.
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Defaults on student loans have surged across the United States, reaching record levels as borrowers struggle to keep up with payments.
Loan revamp affects how much students and families can borrow to pay for college, as well as their repayment options.
A federal judge just blocked a Trump administration move to limit the amount of federal loans nursing students can borrow, but medical students aren't off the hook yet.
The Education Department signaled earlier this year that it would move to resume wage garnishment, among other forms of involuntary collection, for those in default.
Current SAVE borrowers will have "limited time" to enroll in a new loan repayment plan and begin repaying their loans, the Education Department said.
Proposed Department of Education rule could deny loan forgiveness to borrowers whose employers are found to be illegally "undermining national security and American values."
The Education Department has temporarily paused loan forgiveness for an income-based repayment plan. Here are the details.
New law reduces the number of federal student loan repayment options and caps how much individuals can borrow for higher education.
The Trump administration last month started garnishing paychecks and Social Security benefits to collect defaulted loans.
With the Department of Education this month resuming collections on student loans, millions of Americans are at risk of having their wages garnished.
The U.S. Department of Education is threatening to withhold federal aid to colleges and universities that have high levels of students in default on their student loans.
Collection of defaulted federal student loans has resumed after a five year pause started during the pandemic. Defaulting can now lead to garnishment of state or federal benefits; and garnishment of wages will start this summer.
TransUnion, one of the three major credit bureaus, found that one in five student loan borrowers is at risk of defaulting.
Jana Heartwood owes more than $40,000 in student loan debt. She says when payments resumed last year, she was not notified and is now struggling to get answers from her loan servicer.
A new proposal from Republican lawmakers would eliminate the popular SAVE repayment plan, which helped lower costs for millions.
Nearly 10 million borrowers could be in default within a few months, according to the department.
Trump administration effort to wind down the Education Department could lead to frustration for millions of student loan borrowers, experts say.
The Department of Education doesn't oversee school curriculums, but it does offer a range of services affecting millions of Americans.
President-elect Donald Trump has called the Biden administration's student loan relief efforts a "total catastrophe."
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.
The Biden administration's flagship student loan relief plan has 8 million participants. Here's what they should know about the Supreme Court's decision.
About 1 in 10 people with student loans have gotten debt relief, according to the Biden administration.
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 unveiled a new plan that comes after the Supreme Court ruled against his previous debt-forgiveness program.
This round of Biden's student loan forgiveness proposals targets the interest that adds up over time on student loans.
