article thumbnail

Biden Forgives Another $4.9B in Student Loan Debt

BestColleges

The Biden administration continues to approve debt relief for borrowers in income-driven repayment (IDR) plans and the Public Service Loan Forgiveness (PSLF) program. Biden has framed this debt forgiveness as a way of righting past wrongs in the federal student loan system. ED announced the PSLF waiver program in October 2021.

Loans 98
article thumbnail

Report: Education Dept. Illegally Took Wages From Student Loan Borrowers

BestColleges

Wage garnishments are withheld wages from loan borrowers who have defaulted. Department of Education (ED) had collected wages from student loan borrowers after it was illegal to do so. According to the report, when a student loan borrower falls 270 days behind on repaying debt, they enter into default.

Loans 98
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

$100,000 per Year! Rising College Costs and Student Loans

Discovery College Consulting

For the 2020-2021 school year, the University of Miami’s total cost of attendance for an undergraduate living on campus was $75,230. But, for those who take out student loans to afford college, the outcome can be less than ideal. Students can spend 20 plus years paying off these loans. This fall, it’s expected to be $93,666.

Loans 52
article thumbnail

Virginia Bill Would Offer Forgivable Loans to Some Community College Students

BestColleges

Proposed legislation would offer forgivable loans to some Virginia community college students. New legislation in Virginia would offer forgivable loans to certain community college students who agree to work in "high-demand" fields. The legislation would require students to agree to study for a "high-demand" occupation.

Loans 52
article thumbnail

President Biden Forgives Another $5.8B in Student Loans for Public Servants

BestColleges

billion in federal student loan debt for 77,700 borrowers. The forgiveness comes in part thanks to a temporary fix to the Public Service Loan Forgiveness program. billion in student loan debt for 3.96 billion in federal student loan debt for 77,700 borrowers. billion in federal student loan debt for 3.96

Loans 52
article thumbnail

Your student loan payments are due: 3 strategies to support community college students’ financial wellness

EAB

Blogs Your student loan payments are due: 3 strategies to support community college students’ financial wellness When I think back to my time in college, student loans were something that nearly everyone had, but not something any of us fully understood. Specifically, we weren’t educated on how to repay them.

Loans 59
article thumbnail

What Happens to 100 Students Who Start a Bachelor’s Degree?

EAB

Households in 2021 ” Board Of Governors Of The Federal Reserve System (2022). Average Student Loan Debt ” EducationData.org, May 22, 2023 “ Immediate College Enrollment Rate: Condition of Education ” U.S. How America Completes College: Understanding What Helps Students Graduate ” Sallie Mae, in partnership with Ipsos (2022).

Loans 98