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.
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.
About one out of every ten California student loan borrowers is at least 30 days late on payments following the end of a federal pause on loan payments, according to a new analysis released Wednesday.
Proposed Department of Education rule could deny loan forgiveness to borrowers whose employers are found to be illegally "undermining national security and American values."
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.
TransUnion, one of the three major credit bureaus, found that one in five student loan borrowers is at risk of defaulting.
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.
As college students gear up for the spring semester, it’s the perfect time to get your finances in check—whether it’s managing tuition, tackling student loans, or staying on top of everyday expenses. Kate Wood from NerdWallet joins Reed Cowan & Gianna Franco to share simple ways to balance it all and stay financially healthy.
Reed Cowan and Gianna Franco talk to Nerdwallet's Kate Wood about teens developing healthy money habits before going to college.
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.
CBS News Business Analyst Jill Schlesinger shares tips for new graduates on paying for student loans while entering the workforce. For more analysis, go to www.jillonmoney.com. (05-09-2024)
CBS News business analyst Jill Schlesinger on how updates to FAFSA applications have made it easier for students and parents and answers if a four-year degree is worth the financial loans. (04-18-2024) Website: http://kpix.com/ YouTube: http://www.youtube.com/CBSSanFrancisco Facebook: https://www.facebook.com/CBSSanFrancisco Instagram: https://www.instagram.com/kpixtv/ Twitter: https://twitter.com/KPIXtv
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.
About 78,000 people will receive an email from President Joe Biden telling them that their loans are canceled. Here's what to know.
