repayment
Millions of student-loan borrowers have yet to leave a key repayment plan — and the first deadline is approaching.A Department of Education spokesperson confirmed that 1.5 million of the 7.5 million borrowers on the SAVE plan had selected a new repayment plan as of Monday morning, “allowing them to make…
The clock is ticking for some student-loan borrowers to find a new repayment plan.September 29 is the first deadline for certain borrowers to transition off the SAVE plan, a Biden-era income-driven plan that gave borrowers cheaper monthly payments and a shorter timeline to debt relief.If borrowers do not select a…
The deadline for student-loan borrowers to receive a lower interest rate is fast approaching.Borrowers who enroll in autopay by the end of the day on September 30 will receive a temporary 1-percentage-point reduction on their student-loan interest payments, starting immediately.The benefit, which took effect July 1 for borrowers already enrolled…
Dear For Love & Money,I have a good friend who was going through a financial hardship, and she asked me for a loan. She assured me she would pay me back quickly. I’m young and don’t have a lot of savings, so giving her $2,500 was most of my buffer.It’s…
On August 1, Daniela Perez received three separate emails from her student-loan servicer, MOHELA. The first read “Your payment is due soon.” Then “Account is over 210 days delinquent.” Finally: “Loan default is approaching.”She immediately logged in to her account, which said she had missed 15 payments and had a…
