In June 2014, President Obama issued a Presidential Memorandum directing the Department of Education to propose regulations to further ease the burden of student loan debt.On Oct. 27, 2015, the Department of Education issued a final regulation establishing a new income-driven repayment plan, the Revised Pay As You Earn (REPAYE) Plan.
President Barack Obama made a startling revelation about his finances while trying to connect with younger voters on the campaign trail by saying that he and Michelle had only paid off their college loans eight years ago. While talking about the rising cost of college education, Mr. Obama said that it took he and the […]
Federal regulators are considering suing Navient Corp., the nation’s largest student loan company, for allegedly cheating borrowers, the company said Monday. The Consumer Financial Protection Bureau, which has been investigating the company for nearly two years, sent Navient a letter on Aug. 19 telling its executives that the agency’s enforcement staff had found enough evidence […]
“Let’s tell another one million students that when they graduate, they will be required to pay only 10 percent of their income on student loans, and all of their debt will be forgiven after 20 years –- and forgiven after 10 years if they choose a career in public service, because in the United States […]
WASHINGTON — More than 33 million workers qualify to have their student loans forgiven because they work in schools, hospitals or city halls, but too few take advantage of the options because the programs are overly complicated and often confusing, the government’s consumer advocate said Wednesday. Roughly a quarter of the U.S. workforce could take […]
Missing payments will affect your credit score and could result in wage garnishments. Failure to make timely student loan payments will make it difficult to get approved for a car loan or to rent an apartment and could raise your existing credit card rates. In June, The New York Times published an opinion piece that […]
The Pay As You Earn plan is undergoing some changes that will be a help to the borrowers that have fell upon hard times and are below the poverty level. Based off the adjusted gross income, the new plan will cap at 10 percent which is believed to be within poverty guidelines. In the early […]
We’ve reached the end of another school year, which is always a great time for any student to look ahead. One topic perfect for this is student loans, especially if you’re not returning to school in the fall. Federal student loan borrowers receive a grace period before their first payments are due. Yet, when that […]
It is imperative to be wise with money whether you are someone on a tight budget or not. A lot of people get really stressed out about money handling because they don’t know how to manage them properly. It can get really stressful to the point that you can make bad choices along with that […]
As early as being a student, you should already practice handling different kinds of responsibilities. Your school years are definitely your preparation to the real world. It is always better to equip yourself with a lot of academic and life, wisdom so that when adult duties come knocking at your door, you are well prepared […]