borrowers
Millions of student-loan borrowers have faced legal whiplash over the past 24 hours.A Missouri judge blocked Biden from carrying out his broader debt relief plan just hours after receiving the case.The ruling came before the Education Department had even published the final rule for the debt relief. It’s been a…
The on-ramp period for student-loan borrowers ended October 1.It means that servicers will start reporting missed payments to credit agencies.The Fresh Start program, set to return defaulted borrowers to good standing, ends October 2. A program that protected student-loan borrowers from the consequences of missed payments has come to an…
On Tuesday, seven GOP state attorneys general filed a lawsuit in the Southern District of Georgia to block Biden’s second try at debt relief using the Higher Education Act of 1965.The lawsuit is targeting the plan the Education Department announced last summer after the Supreme Court struck down Biden’s first…
On Friday, the 8th Circuit Court of Appeals placed a preliminary injunction on President Joe Biden’s SAVE income-driven repayment plan, intended to lower monthly payments and shorten the timeline for relief for the 8 million borrowers enrolled.If this sounds familiar, that’s because it is: on July 18, the 8th Circuit…
On Thursday, Sen. Elizabeth Warren and Rep. Madeleine Dean led 33 of their Democratic colleagues — including Sen. Bernie Sanders and Rep. Ayanna Pressley — in requesting more information from Navient on how it handles debt discharges for borrowers who said they were defrauded by the schools they attended.The issue…
Last week, the department announced it would be sending emails to all student-loan borrowers with at least one outstanding federal loan to update them on President Joe Biden’s plan to cancel student debt using the Higher Education Act of 1965.Expected to benefit over 30 million borrowers, the plan would cancel…
The Education Department has updates on the next steps for student-loan borrowers enrolled in President Joe Biden’s new repayment plan.On July 18, the 8th Circuit Court of Appeals ruled that the SAVE income-driven repayment plan, intended to lower borrowers’ monthly payments and give them a shorter timeline for debt cancellation,…
A major student-loan company just got hit with a lawsuit over claims it harmed the millions of borrowers it services.On Monday, the American Federal of Teachers filed a lawsuit against servicer MOHELA, accusing it of illegally overcharging borrowers on their monthly payments, failing to process paperwork in a timely manner,…
A major repayment plan for millions of student-loan borrowers is once again blocked.On Thursday, the 8th Circuit Court of Appeals ruled that the SAVE plan, intended to lower borrowers’ monthly payments and give many of them a shorter timeline for loan forgiveness, cannot be implemented as the legal process continues.It…
On Thursday, President Joe Biden’s Education Department announced that it approved $1.2 billion in student-loan forgiveness for 35,000 public service workers.The relief is a result of ongoing fixes to the Public Service Loan Forgiveness program, which forgives student debt for government and nonprofit workers after 10 years of qualifying payments.…
