Student loan borrowers in default could see wages garnished in 2026
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.
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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.
Earlier this summer the federal government capped student loan borrowing for the first time ever limiting how much students and parents can borrow each year and over a lifetime. Supporters say it reins in federal lending but critics warn it could hurt college access and push students toward risky private loans. Higher Education Reporter with Chalkbeat, Jason Gonzales, explains what this means for current and future students.
TransUnion, one of the three major credit bureaus, found that one in five student loan borrowers is at risk of defaulting.
Thousands of New York City public workers still paying student loans will have their debt forgiven, Mayor Eric Adams announced Monday.
Trump administration effort to wind down the Education Department could lead to frustration for millions of student loan borrowers, experts say.
Two of the most vital programs that the Department of Education has overseen for decades – student loans and special needs services – now have new homes within the Trump administration. CBS News New York's education reporter Doug Williams breaks down the potential impact.
Becky Pringle, President of the National Education Association joins CBS New York to discuss what dismantling the DOE would mean for schools and students.
About 1 in 10 people with student loans have gotten debt relief, according to the Biden administration.
It's the 2024 college acceptance season, which means families are grappling with an important question about how to pay for tuition. CBS News Business Analyst Jill Schlesinger explains what to know.
The White House is turning to other methods to erase student debt after the Supreme Court blocked its broader effort to forgive loans.
This round of Biden's student loan forgiveness proposals targets the interest that adds up over time on student loans.
The Free Application for Federal Student Aid was revamped last year, but it wasn't made widely available until January, three months later than usual.
About 78,000 people will receive an email from President Joe Biden telling them that their loans are canceled. Here's what to know.
President Biden said that of the borrowers who can get their loans forgiven, nearly 44,000 are teachers, nurses, firefighters and others who are eligible for forgiveness after working 10 years of public service.
The rollout has been bumpy but CBS News Business Analyst Jill Schlesinger helps guide us through the process.
Borrowers who took out $12,000 or less in loans and have been in repayment for at least 10 years could get their debt erased.
The plan would benefit those who don't qualify for loan forgiveness under the current temporary program.
Officials will meet to discuss finalized plans for the program Monday, but experts say many people may not even know they qualify for it. CBS New York's Zinnia Maldonado asks the experts.
Student loan borrowers facing problems with their servicer shouldn't have to repay their debt until the issues are resolved, 19 state attorneys general say.
As student loan repayments restart in October, the Biden administration said 125,000 people with student loans will have their debt erased.
CBS New York's Elijah Westbrook speaks with an expert to break down what borrowers need to know.
After more than three years of COVID-related reprieve, federal student loan borrowers need to resume payments starting Oct. 1. CBS News Business Analyst Jill Schlesinger tells us how to prepare.
The bill is coming due for students who took out loans to finance their education. Now, many borrowers need to rework their budgets to make their payments.
The bill is coming due for students who took out loans to finance their education. Now, many borrowers need to rework their budgets to make their payments.
Biden administration officials say the new federal program could cut monthly loan payments for 20 million people.
