Archive for the ‘Federal Student Loans’ Category
Student Loan Borrowers Get Some Coronavirus-induced Respite
Apr 22nd, 2020 @ 3:28 PM by Amber NelsonSome 42 million Americans are getting an interest-rate breather on their student loans right now, thanks to a Trump administration action that eliminated federal loan interest charges during the COVID-19 crisis. President Donald Trump announced the decision back on March 13 when he declared a national emergency. “To help our students and their families, I’ve […]
more »99% of Student Loan Forgiveness Applicants Denied
May 1st, 2019 @ 9:20 PM by Amber NelsonLess than 1% of borrowers nationwide have been able to take advantage of federal public service loan forgiveness, according to new data from the U.S. Department of Education. As of the end of 2018, there have been 65,500 loan forgiveness applications filed by those with outstanding student debt. The Education Department has processed 58,000, so […]
more »The South Posts Worst Student Loan Delinquencies
Jan 30th, 2019 @ 5:16 PM by Amber NelsonStudent loans may be second place in size compared to mortgages when it comes to household debt, but they are first in delinquency rates, according to data from Student Loan Hero. The report found that the average delinquency rate among student loan borrowers in 100 of the nation’s largest metro area was 18.8%. (Delinquencies are […]
more »Student Loan Debt Sets New Record High
Dec 20th, 2018 @ 10:44 PM by Amber NelsonU.S. student loan debt has reached a new all-time high and shows no sign of backing down, according to data from Bloomberg. Total outstanding student loans grew to $1.465 trillion in November, the highest level on record and more than twice the amount of student loan debt that existed in June 2009 at the official […]
more »The Student Loan Programs That Backfired
Sep 5th, 2018 @ 8:38 PM by Amber NelsonStudent loan debt continues to stack up even though there are fewer and fewer people applying for those loans. Student loan applications have plunged 20% over the past six years, while total student debt has skyrocketed by $500 billion in that time to an all-time high of $1.5 trillion. What is going on? Two government […]
more »Proposed Rule Tightens Restrictions on Student Loan Forgiveness
Jul 26th, 2018 @ 8:40 PM by Amber NelsonAmericans with student loan debt may soon have a tougher time getting that debt forgiven in some cases. The U.S. Department of Education has proposed new rules that would place a bigger burden of proof on former students to show that their college misled them about their future employment earnings or opportunities. The Department of […]
more »Utah Lowest in Nation for Student Debt Per Graduate
Nov 15th, 2017 @ 7:15 PM by Amber NelsonCollege graduate debt levels vary greatly from state to state, according to a new study from The Student Loan Report, with students from the Northeast accumulating the most debt and those in the Southwest borrowing the least. Utah graduates took the prize for the very lowest student debt levels last year. Using data from the […]
more »Consumer Credit Debt Grows at Fastest Pace in 12 Months
Nov 8th, 2017 @ 6:40 PM by Amber NelsonU.S. consumer borrowing jumped up in September, according to data from the Federal Reserve, fueled by a surge in auto sales and student loans. Total consumer credit debt rose $20.8 billion in September, or at a 6.6% annualized rate to $3.79 trillion in all. That is the fastest pace since November 2016. September’s growth exceeded […]
more »Education Department Changes Course on Student Loan Single-Servicer Plan
Aug 3rd, 2017 @ 4:18 PM by Amber NelsonThe U.S. Department of Education is reversing course on its earlier plan to give the servicing of all federal student loans over to one company, a move motivated by criticism from lawmakers and companies who would lose out on current contracts. In May, in an effort to reduce loan payment confusion and financial waste, Education […]
more »Women Hold 64% of U.S. Student Loan Debt
May 24th, 2017 @ 9:42 PM by Amber NelsonWhile women make up just over half (56 percent) of total U.S. college enrollment today, according to a new study, they carry almost two-thirds of the country’s student debt load. In the American Association of University Women’s (AAUW) recent report, several major gender discrepancies were found in student loan data. Currently, women owe $833 billion, […]
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