Ranking the Six Biggest Student Loan Changes During the Last Three Years
Many significant rule changes have happened during the Covid-19 payment and interest pause. Some of these changes have been well publicized, while others got little attention.
There is a long list of resources to knock out federal and private student loans. For many borrowers, the ideal approach will be a combination of some of the programs below.
If you are brand new to student loan repayment, this guide is a helpful starting point.
Many significant rule changes have happened during the Covid-19 payment and interest pause. Some of these changes have been well publicized, while others got little attention.
Borrowers can now get refunds for federal student loan payments made during the Covid-19 pandemic. All borrowers should ask for a refund.
Changes in monthly IDR bills are common. Several different possibilities could explain the increase.
*There are a few cases where knocking out federal student loans first makes sense. However, the majority of borrowers will benefit from prioritizing eliminating private loans.
Losing in the Supreme Court would be a huge blow to student loan borrowers, but it wouldn’t mean the end of loan forgiveness.
Many borrowers cling to common misconceptions about student loans. Not having the facts right isn’t a mere inconvenience — its potentially very expensive.
Several temporary programs are ending in the coming months. Most of these deadlines are unlikely to get extended.
Once again, federal student loan borrowers face an uncertain future. President Biden’s recently announced forgiveness program may not happen.
Many borrowers prioritize paying off their student loan balances. This strategy isn’t the worst idea, but better options are often available.