Student Loans

If you haven’t been following the student loan forgiveness journey, currently the plan is being reviewed in a federal court. In the meantime, the Biden administration is extending its student loan repayment pause, which was set to expire at the end of the year, until June 30th, 2023. Payments will resume 60 days after the […]

Friday evening ended with a blocking to frustrate all, a federal appeals court has temporarily blocked President Biden’s student loan forgiveness plan halting any debt from being erased. This ruling comes less than a week after the application portal went live. Nearly 22 million people (more than half of qualifying borrowers) have signed up. White […]

Yesterday, Governor Kathy Hochul issued a warning about scammers taking advantage of the recent student debt relief plan to steal borrowers’ money and personal information. Governor Hochul stated: “New Yorkers work hard for every dollar they earn and the student loan forgiveness plan will be critical to helping reduce the pressures of mounting debt. Unfortunately, […]

After months of waiting, President Biden announced a forgiveness plan that would impact millions of student loan borrowers. The new plan will cancel $10,000 in student loan debt for borrowers who earn less than $125,000 a year, or families who make less than $250,000. In the addition to the partial cancellation, the COVID-19 interest pause […]

After speculation of student loan payments continued extension, President Biden announced Wednesday he is extending the pause on student loan payments until May 1st. Originally, the pause on the payments was scheduled to continue on February 1st, since they have been on pause due to the pandemic. The Biden Administration continued the pause due to […]

Ohio State has announced the launch of a new 10-year plan to raise $800 million to eliminate all loans from financial aid packages given to undergraduates. Ohio State graduates more than 8,000 undergrads a year. The university says about half of those students graduate with debt and on average, graduates leave the university owing about […]

New York & Massachusetts Democratic Senators Chuck Schumer and Elizabeth Warren, are looking for ways to jumpstart the economy. One of the ideas they are looking into involves cancelling student debt for Federal borrowers. Yesterday, the Senators introduced a resolution that asks the president to cancel up to $50,000 of student loan debt in an […]

A February 2020 “Education Redlining” report by the Student Borrower Protection Center (SBPC) raises “significant fair lending concerns” for student borrowers from minority college students from marginalized communities. The report includes case studies and side-by-side comparisons of two consumer lenders, Wells Fargo and Upstart. The study compared the lending practices for students at historically Black […]