Below you'll find a list of all posts that have been categorized as “News”
All eyes are on loan cancellation, but President Biden appears poised to make some dramatic improvements to federal student loan rules. As a result, borrowers may see changes to Public Service Loan Forgiveness (PSLF) and payments slashed in half for Income-Driven Repayment (IDR) Plans. Typically, I caution borrowers not to …
The latest student loan scam is an email notifying people about new student loan legislation as part of a stimulus relief package. What makes this particular email dangerous is that it references actual events in the news. Congress passed multiple stimulus relief packages. The legislation included many forms of help …
I recently received two letters promising to provide me with “total student loan forgiveness,” lower interest rates, and $0 per month student loan payments. This raised the question of whether there were now student loan scams by mail to worry about. The companies behind the letters did a good job …
Can you feel it? For the first time, federal student loan forgiveness looks like a real possibility. President Biden asked his Secretary of Education, Miguel Cardona, to prepare a memo on the President’s legal authority to cancel student loan debt. On this surface, the Biden asking for a memo is hardly …
Many have speculated that a student loan provision in the recent stimulus bill means that loan cancellation is coming. This new provision is excellent news for many borrowers. The law now says that any student debt forgiven until December 31, 2025, is tax-free. The thinking is that the groundwork is …
As the debate on student loan forgiveness for all rages on, there is one subset of federal student loan borrowers who deserve immediate debt cancellation. Income-driven repayment plans have existed for over 25 years now. As most borrowers know, if you make payments on an IDR plan for 20 or …
With over 40 million Americans trying to repay student loans, it shouldn’t be a surprise that student debt is a frequent news topic. A growing and disturbing trend has been the increase of “inspirational” student loan success stories. The attention-grabbing headline teases the story of how a borrower paid off …
One of the most common arguments against student loan forgiveness is that it is a handout for the wealthy, and we shouldn’t be giving a bunch of money to Harvard and Yale grads. President Biden recently suggested that this was an issue in a town hall discussion. On the surface, …
Lately, I’ve heard from several readers stressed out over phone calls they received about student loan consolidation. The questions are usually the same: Are the calls about consolidation legitimate? Is it a good idea for me to consolidate my loans? How do I know if it is a scam? The …
It is a terrible sensation—that sinking feeling in your stomach. I think I just got scammed. You tried to fix your student loan issues, and now you fear you have become one of the many borrowers to fall victim to a scammer. If there is good news in this situation, …
