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House Republican has voted to overturn President Biden's Student Loan Forgiveness program, and their plan will reportedly see interests charged on payments that have been paused.

Student loan debt can be an intimidating and sometimes a sudden thing to face; but with the right tactics and actions, you can find a way out from under your imposing student loan debt and work toward a brighter financial future. School loans often come to the surface right after graduation, and put a damper on your feeling of elation, and accomplishment, now you are not only faced with starting a new life on your own and finding a job but also paying back all the money you borrowed over the time of your academic career. If you had to drop out of school, you are also hit with the same realization, though there are deferment options for extreme situations, like medical illness and others.

When your budget is in the trillions of dollars, perhaps $300 billion is a rounding error. But to the American taxpayer footing the bill, losing $300 billion is a big deal. A new study published by the Government Accountability Office (GAO) revealed a shocking gap between what the federal government projected the student loan program would generate in revenue and what actually happened.

Regardless of the outcome regarding the potential forgiveness of Student Loans, it is anticipated that the resumption of payments will commence precisely 60 days subsequent to the Supreme Court's verdict on the matter.

This post includes some content written or assisted by AI tools. During Public Service Recognition Week, the U.S. Department of Education shared some good news. They have given $42 billion in Public Service Loan Forgiveness (PSLF) to over 615,000 people since October 2021. This is because of changes made by the Biden-Harris Administration that made it easier to get loan forgiveness.

Illinois bill would have allowed interest rates up to 20% for student loans. Legislation backed by the Income Share Agreement (ISA) industry met its legislative demise this week to applause from consumer and student borrower advocates.

Two Colorado residents have been indicted on federal charges after defrauding hundreds of student loan debtors. According to an official release from the IRS, Jalon Torres and Lisa Marie Ritter, of Colorado Springs, were indicted after appearing before a grand jury this week. Beginning in 2015, Torres, who worked as a registered agent for the Student Resolution Center, LLC (SRC), devised a scheme to defraud student loan recipients.

Homeowners with mortgages want their loans forgiven the same way that the Biden administration is doing to student loans, saying that it is not fair for the rest of people with debt.

If you're a recent college graduate, you know all too well the burden of student debt. The Public Service Loan Forgiveness (PSLF) program offers a path to debt relief for government and nonprofit workers after ten years of qualifying payments. However, the process of getting that debt relief can be complicated, and borrowers like Jacob Currence are finding that getting their overpayments refunded is a difficult task.

Teacher Who Paid Off Student Loans Can't Get Refunded: How the Public Service Loan Forgiveness Program Is Failing Borrowers. Jacob Currence is a dedicated public servant who has spent nearly two decades working as a teacher for health and physical education and now as an assistant principal. He has also been paying off his student loans for more than ten years to qualify for the Public Service Loan Forgiveness (PSLF) program, which forgives student debt for government and nonprofit workers after ten years of qualifying payments. However, Currence's experience with the PSLF program and his student-loan servicer, MOHELA, has been frustrating and disappointing, to say the least.

In the states that challenged President Biden's plan to cancel student loans, hundreds of thousands of students were approved for relief before the courts stopped the plan.

People often find different routes for acheiving their nurse career. Some attend for profit colleges because of the easy entry point. I was a student who attended the now closed for profit college Brown Mackie College to obtain my LPN license. I was able to walk in and be enrolled the same day. Unfortunantley that landed me in a huge amount of student loan debt. Thankfully, my LPN program was found guilty of consumer fraud by the Justice Department. I was recenlty approved for borrowers defense due the sweets vs cardona settlement and can now breathe a sigh of relief.

President Biden's student loan forgiveness plan delivers on a campaign promise that would cancel $10,000 in federal student loan debt for those making less than $125,000 or households with less than $250,000 in income per year. Pell Grant recipients would get an additional $10,000 in debt forgiven.

The Consumer Financial Protection Bureau (CFPB), a federal agency, says some education loan servicers are committing fraud. They are still collecting student debt payments from borrowers, even though the debtors' loans were discharged through bankruptcy.

Following the Supreme Court hearings, the Democrats in Congress have begun to express their support for President Biden's fight against the Student Loan Cancellation scheme, which is currently in limbo.

We believe what we want to believe. And even though I have no illusions about the Biden Administration’s integrity, I fell for it. Did you? A lot of us did. Twenty-six million of us to be exact and according to the Department of Education sixteen million applications have been approved and those loans will be “discharged when allowed by the courts”.

Leading student loan refinancing firm, SoFi, has taken legal action against the federal government, filing a suit to terminate the moratorium on federal student loan payments, which it claims is an "illegal overreach of power." The lawsuit was filed in U.S. District Court in the District of Columbia last week and is believed to be one of the first attempts to end the payment pause through litigation.

Republicans are incensed that the Student Loan program has the potential to cost $400 billion over the next three decades and will deprive states of future tax revenue. Republicans are expressing anger over the projected cost of President Joe Biden's Student Loan forgiveness program due to how it could reach $400 billion over the next 30 years.

Recently the College Foundation of NC, CFNC or CFI, announced that some of the loans they hold will be relocating to another management firm. If you have FFELP loans with CFI they will soon be managed by Nelnet. FFELP loans are set to transfer to Nelnet on 03/25/23.