More colleges remove loans from student aid packages to combat student debt
THE WASHINGTON POST — Ohio State University and Smith College are the latest institutions to try to spare another generation of undergraduates from shouldering an all-too-common burden: student debt. Starting next fall, the schools will take loans out of their financial packages and instead pour philanthropic dollars into more grant aid for undergraduates. The decision…
Read More about More colleges remove loans from student aid packages to combat student debtA look at White House student loan forgiveness initiatives
NPR — The Biden administration’s approach to student loan relief began with improving, extending or expanding a handful of programs that were already on the books. “We’re working really hard to get students the relief that they’re entitled to” through these preexisting programs, Undersecretary of Education James Kvaal told NPR on Friday. While it’s not loan forgiveness, Biden…
Read More about A look at White House student loan forgiveness initiativesABA calls on lawyers to join push to tackle the student debt crisis
ABA JOURNAL — Graduating from law school and starting a legal career should be an exciting and hopeful time. But for far too many, student debt causes apprehension and struggle. A 2020 ABA survey found the average debt for law school graduates has increased to more than $150,000—a staggering amount that affects their personal and professional lives…
Read More about ABA calls on lawyers to join push to tackle the student debt crisisStudent borrowers see first impact of Public Service Loan Forgiveness reform
NPR WAMU — In recent days, thousands of federal student loan borrowers have gotten a shock. When they go online to check their loan balances, they realize, suddenly, they are debt-free. This wave of loan discharges is part of the U.S. Department of Education’s overhaul of the Public Service Loan Forgiveness program. NPR’s Cory Turner reports.
Read More about Student borrowers see first impact of Public Service Loan Forgiveness reformHow eligible borrowers can apply for limited student loan forgiveness programs
FORBES — The biggest news in student loans over the past month has been the major changes to student loan forgiveness. President Joe Biden and the U.S. Department of Education announced sweeping change to the long-troubled Public Service Loan Forgiveness program that could result in hundreds of thousands of student loan borrowers getting total student loan…
Read More about How eligible borrowers can apply for limited student loan forgiveness programsVeterans struggle with student debt despite new relief programs
CNBC — Cerena Jones served in the U.S. Air Force from 2000 to 2005, and not long after used her G.I. Bill to attend Everest College in Dallas. Getting her associate’s degree in business administration, she hoped, would be the beginning of a long career. She soon realized, however, that the school had lied to her about…
Read More about Veterans struggle with student debt despite new relief programsUS Department of Education cuts ties with private collection agencies for unpaid student loans
THE WALL STREET JOURNAL — The U.S. Department of Education said it is ending its relationship with private collection agencies that had been tasked with recovering payments from federal student loan borrowers in default to improve collections and provide borrowers with more support.
Read More about US Department of Education cuts ties with private collection agencies for unpaid student loansUS Department of Education will allow borrowers a second chance to access Public Service Loan Forgiveness
NPR WAMU — The U.S. Department of Education says it will reach out to federal student loan borrowers who may have been prematurely denied loan forgiveness under the revamped Public Service Loan Forgiveness (PSLF) program and will reprocess their applications. The move comes after an NPR review of borrower documents, as well as information provided by people…
Read More about US Department of Education will allow borrowers a second chance to access Public Service Loan ForgivenessUnderstanding recent loan forgiveness moves by the US Department of Education
FORBES — Over the last 10 months, the Biden administration has announced billions of dollars in student loan cancellation. The administration has relied on executive authority, some of it emergency-based, to expand available relief under existing federal student loan forgiveness programs. According to the Department of Education, these initiatives are expected to provide over $11.5 billion in…
Read More about Understanding recent loan forgiveness moves by the US Department of EducationCollege graduates and lenders struggle to understand recent Public Service Loan Forgiveness program changes
YAHOO!NEWS — Three weeks after the Education Department announced a temporary expansion of a popular debt-relief program for public servants, the contractors charged with guiding borrowers are still awaiting guidance themselves. People familiar with the matter, who spoke on the condition of anonymity because they were not authorized to speak publicly, said federal student loan servicers –…
Read More about College graduates and lenders struggle to understand recent Public Service Loan Forgiveness program changes