Thursday, July 29

student loan forgiveness

BI-freelancer, contributor 2019, Education, forbearance, Nordic, Personal Finance, Strategy, Student Loan Debt, student loan forgiveness, Student Loans, Students

3 people on how ending the COVID-19 student-loan forbearance will impact their lives and finances

The CARES Act student-loan forbearance period comes to a close at the end of September. Insider spoke to three people with between $14,000 and $185,000 in debt about how this impacts them. "With the forbearance ending, student-loan forgiveness is my best bet," Glenda Johnson said. LoadingSomething is loading. Millions of Americans are still rec...
Economy, Elizabeth Warren, Markets, Policy, Politics, Public Service Loan Forgiveness Program, Student Debt, student loan forgiveness, Student Loans

Inside the’vicious cycle’ of spiralling student-loan debt caused by servicers just not picking up the phone

Some student-loan borrowers told Insider they are struggling to get help from their loan servicers. Even though some qualify for debt relief, they accumulate more debt instead. Lawmakers have been pushing to hold the servicers accountable, but further reform is pending. LoadingSomething is loading. ...
DFP, Federal student loan, Personal Finance, Personal Finance Insider, pfi, PFI Bankrate, PFI GOBankingRates, PFI Reference, PFI Related Content Module, PFI-XAMP, private student loan, Public Service Loan Forgiveness Program, student loan, student loan forgiveness, TOC-jump-to

You may qualify for Public Service Loan Forgiveness, but you’ll still make payments for at least 10 years

Public Service Loan Forgiveness, or PSLF, is mostly for governmental and non-profit workers. You'll need to make 120 qualifying monthly payments to be eligible for forgiveness. The program's track record has been shaky, so don't rely on forgiveness as a cure-all. Read more of Insider's loan coverage here. Federal student loan debt across the country is ballooning, leaving many borrowers unable to pursue other financial goals. The total amount owed to the government is $1.59 trillion, according to the latest figure from the US Department of Education. While the situation may seem bleak, if you work in an eligible public service job, you may be able to take a...
Economy, Elizabeth Warren, John Kennedy, Markets, Policy, Politics, Public Service Loan Forgiveness Program, Student Debt, student loan forgiveness, Student Loans

8.5 million student-loan borrowers can’breathe a sigh of relief’ after major loan company shuts down, says Elizabeth Warren

The Pennsylvania Higher Education Assistance Agency, a major student-loan servicer, is shutting down in December. Elizabeth Warren has long criticized the company for failing to provide debt relief to borrowers. The company administers PSLF, which denies 98% of public service workers who seek debt forgiveness. See more stories on Insider's business page. A company that handles 8.5 million Americans' student loans is shutting down after lawmakers like Elizabeth Warren accused it of misleading borrowers, lying to Congress, and failing to properly issue loan forgiveness.The Pennsylvania Higher Education Assistance Agency (PHEAA) notif...
Biden, Economy, HBCU, Markets, Policy, Politics, Public Service Loan Forgiveness Program, Student Debt, Student debt forgiveness, student loan forgiveness, Student Loans

Biden campaigned on cancelling and reforming student debt. Here’s where those promises stand.

Biden campaigned on cancelling $10,000 in student debt per person and reforming loan programs. He has yet to deliver on those promises, but the government has begun work on reforming student debt. Advocates and lawmakers say borrowers need more certainty from the Education Department. LoadingSomething is loading. ...