Student Loans
A student loan is designed to help students pay for secondary education and associated fees such as tuition, books, and boarding. Student loans tend to have lower interest rates compared to other loans, and the repayment schedule is deferred until the student is finished with school.
Most student loans are paid back using an Income-Based Repayment plan which allows the borrowers to pay back loans based on how much they make, not how much they owe.
In the United States, there is currently $1.58 trillion in outstanding student loan debt, with the average borrower having $38,792 in student loan debt. It is also reported that 30 percent of college students take on some type of student loan.
In 2020, President Joe Biden promised student loan forgiveness.
Latest Student Loans News and Updates
Parent PLUS Loan Borrowers Can Be Eligible for Forgiveness
Are Parent PLUS Loans eligible for Public Service Loan Forgiveness (PSLF)? They can be if certain criteria are met. It gets a little complicated.
There Could Be Serious Repercussions for Not Paying Student Loans
Student loans can a financial burden. People might wonder what would happen if they don’t pay their student loans? There could be repercussions.
Don't Get Caught With the National Student Loan Center Scam
National student loan center scams have been prevalent throughout the years, targeting many student loan borrowers. How can you avoid these scams?
Fact Check: Did Joe Biden Promise Student Loan Forgiveness?
Many people on social media claim Biden promised student loan forgiveness when he ran for president, but is that actually true? Let's take a look at what he said.
How to Apply for Student Loan Forgiveness in 2022
Some alumni can get their student loans forgiven. Here's an update on the criteria and how to apply for student loan forgiveness in 2022.
Biden Set to Extend Student Loan Pause Through August 2022
The Biden administration will issue another extension on the student loan pause. Get the latest details on the moratorium and whether student loan cancelation is on the table.
Looking for Scholarships to Pay Student Loans? Check Out Grants Instead
Can you use scholarships to pay off student loans? It’s not likely, one CPA says, but various grants are available to student loan debtors.
You Don't Have to Work at All These Fast Food Restaurants to Apply for a Scholarship
Your favorite fast food restaurants like Taco Bell and Chick-fil-A are giving back by offering scholarships to college students — here are the best and how to apply.
Education Department Says 100,000 Student Loan Borrowers Now Eligible for Debt Relief
Debt relief for student loans is now possible for 100,000 borrowers because of PSLF updates, the Department of Education announced on March 9.
Filing for Bankruptcy on Private Student Loans — Pros and Cons
Filing for bankruptcy might be a way to help get rid of private student loans. However, it's hard to prove that loans will cause undue hardship. There are other options.
Getting Rid of Student Loans Without Actually Paying Is Hard, but Not Impossible
Student loans are unavoidable for some. However, there are a instances where you don't have to pay them back.
Do You Have Student Loan Debt? Tips for Getting Mortgage Approval
Knowing how student loan debt affects getting a mortgage is a crucial aspect for prospective homebuyers. Can student loan debt affect getting a mortgage?
The American Rescue Plan Made Student Loan Forgiveness a Lot Less “Taxing”
Do you pay taxes on forgiven student loans? Find out how the American Rescue Plan changed the taxation of student-loan forgiveness.
Navient Will Cancel $1.7 Billion of Student Loan Debt
Navient is one the top student loan lenders in the U.S. After a recent class action lawsuit, the lender will forgive thousands of student loans.
Paid Off Your Student Loans? Time to Focus on Other Financial Goals
What should you do after paying off student loans? Learn about what you can do with the extra money, and how your credit score might change.
When Paying Off Student Loans While in College Could Be a Good Idea
Should you pay off your student loans while in college? Or should you wait until after you've graduated?
10 Student Loan Scams to Avoid As We Enter the New Year
Avoid these 10 student loans scams online criminals are using to gain personal information from people who can't afford to repay their student loans.
The Student Loan Payment Pause Is Temporary but Consolidation May Be a Permanent Solution
Although Joe Biden has extended the pause on student loan payments, it may not happen again. Is consolidation the best option?
How to Pause Student Loans After Biden Extends Repayment Relief
Many borrowers want to know how to pause student loans after Biden extended the repayment relief. Other people want to keep paying on their loans.
Biden Administration Announces It Will Postpone Student Loan Payments, But Borrowers Want More
President Biden's actions—or inactions—surrounding student loan forbearance have been facing intense scrutiny. Will student loan forbearance get extended?
As the Pandemic Drags On, Many Wonder if Student Loans Will Ever Go Away
Many politicians are pushing to have student loans forgiven, though many government officials have yet to show support of the idea.
Watch Out For Mia Torres Student Loan Scam Calls
Mia Torres phone calls claiming to offer student loan forgiveness are scams. Here's how to avoid scammers, whether by phone, email, text message, or social media.
AOC Has Student Loan Debt—Why She's Pushing for Loan Forgiveness
Progressive Alexandria Ocasio-Cortez wants to move forward with student loan debt forgiveness. Here's how much she has and her goals as a New York Representative.
What Happens If You Default on Federal Student Loans?
As borrowers prepare for federal student loan forbearance to end in January 2022, they need to know the consequences of loan default and how to avoid it.
Student Loan Pause Ends Early in 2022—Is There a Grace Period?
President Biden paused student loan payments due to COVID-19. In January 2022, that comes to an end. What will repayment look like and is there a grace period?
Will Biden Forgive Student Loans? Costs and Economic Impact, Explained
Will President Joe Biden forgive student loans. What would the economic costs and benefits be if he forgives the loans?
When Do Student Loans Show Up on Your Credit Report?
Students should consider several factors carefully when taking out loans, especially their effect on credit. When do student loans show up on your credit report?
Student Loan Forgiveness Scams: What Alumni Should Watch For
As an overhaul of the student loan forgiveness policy is underway, scams are targeting debt-bearing alumni. Here's what to watch for.
Will Biden Cancel Student Loans? PSLF Revamp and Waiver, Explained
The growing student debt in the U.S. has been a big concern. Will the Biden administration cancel student loans and revamp the PSLF program?
Will Biden Extend Jobless Benefits and Cancel Student Loans?
With the COVID-19 pandemic persisting amid the delta variant surge and jobs hard to come by for some people, will Biden extend unemployment benefits?
How To Get Your Student Loans Forgiven
Many former students aim to extend the repayment period of their loans and lower their interest rate. Here's how to consolidate student loans.
Federal Student Loan Forbearance Extended Until Jan. 31, 2022: Here’s What You Should Know
The federal student loan payment pause was set to expire at the end of Sep. 2021. When do federal student loan payments resume?
FedLoan to Phase Out Federal Student Loan Servicing, Starts Now
One of the key federal student loan servicers in the U.S., FedLoan, is stepping back from its role. Here's what's happening.
Should You Pay Off Your Student Loans Early? Pros and Cons to Consider
Should you pay off your student loans early? See why some people are eager to pay their student loan debt and why others have different priorities.
What Student Loans Has President Biden Canceled?
President Biden has made his commitment to student loan debt relief clear, but action is a different story. What student loans has he canceled?
Student Loan Payments to Resume September 30—How to Prepare
When do student loan payments resume? Learn more about the deadline for the repayment suspension and what Federal Student Aid says you can do to prepare.
Some Employers Help Pay Off Student Loans: How to Get This Benefit
More employers are offering partial student loan repayment assistance to employees. How can you get this benefit?
Will Biden Forgive Student Loans? Here's the Latest Info
President Biden is under pressure to forgive all student loans. However, he has proposed other options to ease student loan debt.
How Chapter 13 Bankruptcy Helps Reduce Student Loan Payments
Chapter 13 bankruptcy offers a way to reduce or delay student loan payments. However, Chapter 13 bankruptcy doesn't eliminate the debt.
GNUS Stock Forecast: Can It Help Pay Off Student Loans or Mortgages?
Genius Brands is up 750 percent over the last year. What’s the forecast for GNUS stock? Is it a good long-term investment or a speculative bet?
What Happened To Student Loan Forgiveness? Here are the Prospects in 2021
Student loan forgiveness is on many Americans' minds, but the $1.9 trillion stimulus package doesn't offer it.
Biden Considering Student Loan Debt Cancellation, Perhaps Through an Executive Order
Is Biden going to forgive student loans? The U.S. president is considering canceling some or all of the nation’s $1.7 trillion student loan debt.
Relief From Student Loan Payments Will Soon Be Over
The COVID-19 pandemic relief for about 42 million federal student loan borrowers will continue until Jan. 31, 2021.
Does Paying Student Loans Build Credit?
More than 44 million Americans owe a significant amount in student loans. Can student loan debt be used to help build your credit score?
