Education Department Says Student Loan Forgiveness Application Has Backlog
People are waiting for answers about their applications for the federal Student Loan Forgiveness program, which reportedly has a lengthy backlog.
Loans
Market Realist has the latest news and updates on loans, student loans, mortgages, and business loans.
British Renters Can Now Get a 100 Percent Mortgage — Here's How
In the U.K., borrowers will be able to take out 100 percent mortgage loans, which means they don't have to put down a deposit. Here's what we know.
Biden's Mortgage Plan Will Impact Borrowing Fees, Target Responsible Homeowners
What is the Biden mortgage plan doing to borrowing costs? Penalties for lower credit scores will decrease, and Republicans aren't happy about it.
How to Successfully Negotiate a Car Loan When Buying a Vehicle
Buying a car is a major financial investment and that's why you should know how to negotiate a car loan before you go to the dealership.
Deferment vs. Forbearance for Student Loans — Understand the Differences
Graduation is amazing, but the debt is daunting. If you're struggling to repay student loans, you may want to consider deferment vs. forbearance.
Yes, Customers Still Have to Pay Loans If a Bank Fails — All the Details
What happens to loans when a bank fails? Amid the downfall of two major banks, here's what to know if you have loans at a bank that has closed.
How to Buy a Foreclosed Home With No Money: Tips for House Seekers
If you're hoping to buy a foreclosed home with no money, you have a few options. These are the top ways to buy a foreclosed home with no money.
Refinancing a Car — How It Works and When It's a Good Idea
How does refinancing a car work? If you're struggling to make car payments but want to keep the car, refinancing may offer a solution.
Can You Pay Student Loans with a Credit Card? Let's Find Out
People struggling to make ends meet may not be able to afford their student loans and wonder if they can pay student loans with a credit card.
Here's What It Means to Backstop a Loan — Unofficial Insurance Policy
What does it mean to backstop a loan? It's an option that provides support for a securities offering if the open market doesn't produce enough buyers.
Student Loan Forgiveness Hits Another Roadblock — Who Ends up Paying?
President Joe Biden's student loan forgiveness program is struggling to get off the ground legally – but who pays for student loan forgiveness?
Lending Money to Someone Might Be a Bad Idea — Even to Friends and Family
A recent poll showed why lending money to friends and family may be a bad idea. What should you do when a friend wants to borrow money?
Student Loan Forgiveness Is on Hold for Millions — Will It Go Through?
President Biden's student loan forgiveness plan is on hold as a federal appeals court reviews a lawsuit against it. Can you still apply, and will the loan forgiveness go through?
Is Student Loan Forgiveness Taxable? In Some Cases, Yes
Student loan forgiveness applications are now available. Will some borrowers have to pay income taxes on the forgiven amount? Here's what we know.
Student Loan Forgiveness Portal Is Open, Kind Of — Should You Wait to Apply?
The White House has launched the student loan forgiveness portal — kind of. It’s a soft launch, so some people may want to wait to apply.
Will Changes to Biden's Student Loan Forgiveness Plan Impact You?
Student loan forgiveness changes are here, and some borrowers won't be eligible for $10,000 in loan forgiveness after all. We have all the details.
Student Loan Forgiveness Will Cost Hundreds of Billions of Dollars, Sparking Debate
Student loan forgiveness is coming with a big price tag. Here’s how much the program will cost the U.S. government as well as the average American.
Spotloan Is an Alternative to a Payday Loan — Is It Safe to Apply?
Spotloan is owned by BlueChip Financial and offers emergency loans between $300 and $800 with high interest rates, sometimes as much as 490 percent.
What Happened in the Plain Green Loans Settlement?
Plain Green Loans, one of three websites operated by Think Finance, reached a settlement over predatory and illegal lending practices.
Student Loan Borrowers Can Get Refunds for Pandemic-Era Loan Payments
Can you get a refund on student loans? The Department of Education is offering refunds on payments made during the COVID-19 payment pause. Learn more.
Bank of America’s No Down Payment Mortgage Program, Explained
Bank of America is testing a new program that grants mortgages with no down payment for some people of color. Here’s how it works.
Why Student Loans Are So Hard to Pay Down — Interest Rates
The nation has been talking about a student loan crisis for years, but why are student loans so hard to pay down? Interest rates are largely to blame.
Got FFEL Loans? Consider These Student Loan Forgiveness Options
President Biden’s student loan forgiveness decision leaves out a group of borrowers with FFEL loans. What are their options? Here's what we know.
Student Loan Repayment Plans, Explained — Get Ready for 2023
Student loan repayment will resume in 2023. Standard 10-year repayment plans are the default, but several income-driven repayment plans and other options exist.
Biden’s Student Loan Forgiveness Might Lower Your Credit Score
Student loan forgiveness is going to bring a lot of relief for many people. However, some are concerned about the forgiveness impacting their credit score.
The Fresh Start Program Aims to Help Those Who Have Defaulted on Student Loans
Joe Biden revealed his student loan debt plan on Aug. 24, offering billions of dollars in debt forgiveness. What's the Fresh Start program about?
People in This Profession Have the Highest Student Loan Debt
People in the profession with the highest student loan debt owe more than $292,000, on average. The government funded most of the loans.
Student Loan Forgiveness Plan: When Will It Take Effect?
On Aug. 24, Biden announced the student loan forgiveness plan. When will loan forgiveness take effect? Here's what borrowers can expect.
Federal Student Aid Website Went Down After an Influx of Visitors Crashed It
The Federal Student Aid website may take longer to load due to “high volumes of visitors.” The website has received an influx of visitors following Biden's student loan forgiveness announcement.
Is Canceling Student Loan Debt a Bad Idea? Cons, Explained
President Joe Biden has announced the cancelation of student loans for up to $20,000 per borrower. However, it's a bad idea economically.
Student Debt Forgiveness: Why You Should Keep Paying Off Your Loan
You shouldn’t stop paying your student loans because of Biden’s forgiveness plan just yet.
What Is a Perkins Loan? Eligible for Student Loan Forgiveness
As President Biden plans to forgive $10,000 in student loan debt, including for borrowers with Perkins loans, let’s clear up what a Perkins loan is.
Who Took Over FedLoan Servicing Student Loans? All About MOHELA
FedLoan Servicing ended its contract with the U.S. Department of Education in 2021. Who took over FedLoan Servicing loans? Here's what we know.
Aidvantage Took Over Navient's Federal Student Loans in 2021
Navient was previously the nation's largest student loan servicer. Last year it transferred its federal student loans to Aidvantage.
Fact Check: Are Student Loans Forgiven After 20 Years?
Many borrowers would jump on the chance to have their loan forgiven. And in some cases, this is possible after 20 years.
Can You Refinance Student Loans?
Do you know what comes next for your student loan payments? Refinancing student loans is possible, but it’s not right for everyone.
How to Apply for DeVry University Student Loan Forgiveness
Looking for DeVry student loan forgiveness in 2022? See how to apply—and what the U.S. Department of Education has uncovered about DeVry’s marketing.
Would Student Loan Forgiveness Increase Inflation? All the Facts
The deadline for extending the federal student loan pause is Aug. 31. If the loans were forgiven, some worry that it could increase inflation.
Why the Student Loan Pause Might Not End in 2022
The repayments on student loans were paused in 2020 due to the COVID-19 pandemic. The pause ends in August but might get extended.
Biden Cancels $3.9 Billion in ITT Tech Student Loans: What to Know
President Biden has canceled nearly $4 billion in student loans for former students of the now-defunct ITT Tech. Here's what we know about the cancelation.
How to Apply for Forbearance — Biden May Not Extend the Student Loan Pause
It doesn't seem like President Biden plans to extend the student loan pause again. Since the deadline is fast approaching, here's how you can apply for student loan forbearance.
Biden Expected to Postpone Student Loan Payments Again and Forgive Many
President Joe Biden is expected to postpone student loan payments yet again and announce loan forgiveness for up to $10,000 ahead of August deadline.
Equifax Error Caused Inaccurate Credit Scores for Millions of Customers
Equifax sent inaccurate credit scores to millions of its customers earlier this year. What causes the inaccuracies? We'll explain the Equifax error.
FedLoan Transfers Many Federal Loan Clients to Nelnet, Company Is Legit
Many people have been getting emails from a company called Nelnet saying that they have a new loan service provider. Is Nelnet a legit loan service provider?
How to Get ITT Student Loan Forgiveness — Eligibility, Explained
Students of the former ITT Technical Institutes should be able to get student loans forgiven since the schools closed and filed for bankruptcy.
Consolidating Student Loans for PSLF: Pros and Cons, Explained
You may want to consolidate your student loans for PSLF if your current type of loans isn’t directly eligible for the program. Here are the pros and cons.
Will Biden Postpone Student Loan Repayment or Forgive Them Completely?
The Biden administration is trying to make a decision about student loans. Will the administration pause them again or forgive them altogether?
Student Loan Dilemma — Pay It Off or Wait for Forgiveness?
The moratorium on student loans ends in August. What’s the latest update on student loans? Should you pay off your student loan or wait for forgiveness?
Is Sprout Mortgage Closed? Non-QM Lenders Feel the Pain
Sprout Mortgage has reportedly closed and laid off its employees. What’s wrong with non-QM lenders and why are they shutting down?
Private Student Loan Owners May Be Left Out of Loan Forgiveness
Discussion continues about federal student loans being forgiven. If that happens, will private student loans be forgiven, too?