Trump Student Loan Plan Would Be Devastating to Teachers and Social Workers

Michael Lux Blog, News, Student Loans 3 Comments

This week the Washington Post reported the Trump Administration’s plans for major changes to student loan repayment.  The changes include eliminating the Public Service Student Loan Forgiveness Program, and elimination of all the current Income-driven repayment plans.  Replacing the current income-driven repayment plans would be a plan that requires borrowers to pay 12.5% …

Scam Alert: Robo Calls About Trump Ending Public Service Loan Forgiveness (PSLF)

Michael Lux Blog, News, Scam Alert, Student Loans 0 Comments

We have heard from a number of people who received pre-recorded automated calls, better known as robo calls, about their student loans.  In these calls the recording says that President Trump will be ending the Public Service Student Loan Forgiveness program and the borrowers need to act right away to …

DeVos Puts Navient, FedLoan Servicing Ahead of Borrowers

Michael Lux Blog, News, Student Loans 0 Comments

This week Education Secretary Betsy DeVos withdrew a series of Obama-era protections designed to increase federal servicer accountability and to ensure borrowers get accurate information.  In her criticism of the previous administration’s handling of the student loan servicer contracts, DeVos said, “This process has been subjected to a myriad of …

How I Recertified My Income-Driven Repayment Without the IRS Data Retrieval

Michael Lux Blog, News, Strategy, Student Loans 0 Comments

A large percentage of federal student loan borrowers are currently enrolled in an income-driven repayment plan.  Unfortunately for these borrowers, the annual re-certification process just got more complicated.  In the past borrowers just went to the Federal Student Aid’s Website for Income Driven Repayment Requests.  The form was fairly simple, …

Consumer Financial Protection Bureau Issues Report on Student Loan Complaints

Michael Lux Blog, News, Student Loans 0 Comments

The Consumer Financial Protection Bureau is tasked with leveling the playing field between everyday Americans and the large companies with whom they do business.  Approximately five years ago, the CFPB created a system where people could file complaints and force companies to respond to their individual issues.  Earlier today, the …