Lenders will have to immediately stop requiring payments and accruing interest on federal education loans after President Trump signed the new coronavirus aid bill into law.
There's one area of student loan reform where Kamala Harris has uniquely positioned herself.
If you accrued any student loan debt in 2016, here’s everything you’ll need to know when filing your tax returns this year.
Chasing the debt-free by 35 dream.
Even with the go-ahead from the Trump administration, United Student Aid Funds will not hit debtors with exorbitant collection fees.
You don't have to choose between paying off your student loans and saving for retirement. Here is how to do both.
The 68-year-old has been struggling to pay off his debt since 1982 when he borrowed about $12,500 to get a Master's degree in Liberal Arts from the University of Southern Florida. It took him nearly a decade to find a steady job, and he defaulted on his loans before finding work at a community college as a media technician and humanities instructor. The government garnished his wages by about $400 a month throughout most of his career to collect the debt.
You've paid off all your debt obligations and have money left over, should you pay down more student loan debt or put the money toward your retirement?
College aid formulas expect parents to contribute up to 47% of their after-tax income to college costs each year. Will your income throw your child out of the running for college aid? Use my EFC Quick Reference Table to estimate your aid eligibility. Don't take someone's word on aid eligibility just because their situation may appear similar to yours.
If you live in certain states and you default on your student loan you could use your driver's license and/or professional certification.
Many people who have finished college in the last decade have student loan debt, but some have found that repaying that debt is more complicated than they expected it to be. There are many resources for student loan borrowers trying to figure out repayment, and some go to financial planners for advice on how to manage their student loan debt as a part of a broader financial strategy that will carry them into retirement.
Talking to your lender about your options, rather than hiding, is the best first step, industry experts say.
Student loan debt in the United States has reached an astronomical high. How did we get here?
You don't have to search very hard to come across the dire stories of real people struggling with poor credit scores. Though most people are aware that their credit score is important -- it can affect your ability to rent apartments, get a mortgage or car loan, or reduce your student loan interest rates -- there are many myths surrounding what can actually help or hurt your score, especially when it comes to student loans. For recent graduates, student loans can be a credit disaster or a credit booster -- it all depends on how well they are managed.
Pending legislation in Colorado could secure student loan relief for workers with certain degrees.
Who wouldn't want to have their student loan debt vanish--evaporate into oblivion? If you are among the millions of Americans with student loan debt, this may be the kind of thing you dream of at night. Is it possible to make this dream a reality with student loan forgiveness programs?
Some taxpayers are discovering the refund they thought was coming has instead has been seized to pay their defaulted student loan debt
Higher education continues to be the single most important investment students can make in their own futures. Five years ago this month, President Obama signed student loan reform into law, redirecting tens of billions of dollars in bank subsidies into student aid. His historic investments in college affordability include increasing the maximum Pell Grant by $1,000, creating the American Opportunity Tax Credit worth up to $10,000 over four years of college, and letting borrowers cap their student loan payments at 10 percent of income. He has also promoted innovation and competition to help colleges reduce costs and improve quality and completion, including a First in the World fund. While these investments have helped millions of students afford college, student loans continue to grow.
President Barack Obama told students at Georgia Tech on Tuesday he wants to make the process of repaying student loans easier to understand and manage. Obama signed a “student aid bill of rights” and spelled out an assortment of policy tweaks and projects to try to make it easier for people with student loans to pay back their debt.
Failing to stay current on your student loans means the government can seize your tax refund or wages.