Student Loans

student loan topic page

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

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    Personal Finance

    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.
    By Ruchi Gupta
  • A graduation cap on a stack on money
    Personal Finance Guides

    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.
    By Anuradha Garg
  • Scam
    Personal Finance

    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?
    By Ade Hennis
  • Students hold signs demanding student debt cancelation alongside Rep. Ro Khanna (D-CA) in D.C.
    U.S. Economy & Politics

    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.
    By Amber Garrett
  • Student loan number signs
    Personal Finance

    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.
    By Rachel Curry
  • Lawmakers call upon Biden to extend pause on student loans
    Federal Assistance

    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.
    By Mohit Oberoi, CFA
  • College students
    Loans

    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.
    By Dan Clarendon
  • Taco Bell Scholarship check
    Personal Finance

    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.
    By Anna Quintana
  • College graduate walking up steps
    Loans

    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.
    By Dan Clarendon
  • U.S. Bankruptcy Court sign
    Loans

    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.
    By Kathryn Underwood
  • Student loan paperwork
    Personal Finance

    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.
    By Ade Hennis
  • College grad
    Mortgages

    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?
    By Robin Hill-Gray
  • Joe Biden and Kamala Harris
    Personal Finance

    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.
    By Dan Clarendon
  • A student holding a sign about canceling student debt
    Personal Finance

    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.
    By Ade Hennis
  • Couple using computer
    Personal Finance

    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.
    By Dan Clarendon
  • A woman wearing a mortarboard
    Personal Finance

    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?
    By Anuradha Garg
  • 10 student loan scams
    Personal Finance Guides

    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.
    By Jennifer Farrington
  • Howard University Student Association president Kylie Burke and U.S. vice president Kamala Harris
    Personal Finance

    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?
    By Ade Hennis
  • People discussing student loan repayment
    Personal Finance

    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.
    By Ruchi Gupta
  • President Biden sitting at desk with hands clasped
    News

    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?
    By Rachel Curry
  • Student debt protesters
    Federal Assistance

    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.
    By Jennifer Farrington
  • Students in class
    Consumer

    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.
    By Kathryn Underwood
  • Alexandria Ocasio-Cortez (AOC)
    News

    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.
    By Rachel Curry
  • Man writing a check for his student loans
    Personal Finance

    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.
    By Kathryn Underwood
  • President Biden
    U.S. Economy & Politics

    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?
    By Robin Hill-Gray
  • President Joe Biden
    Personal Finance

    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?
    By Mohit Oberoi, CFA
  • A person holding books and surrounded by IOU notes
    Personal Finance Guides

    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?
    By Anuradha Garg
  • College graduates
    Personal Finance

    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.
    By Rachel Curry
  • Democrats discussing student loans
    Personal Finance

    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?
    By Mohit Oberoi, CFA
  • President Biden
    U.S. Economy & Politics

    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?
    By Ruchi Gupta
  • A person sitting at a desk behind books
    Personal Finance

    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.
    By Ruchi Gupta
  • President Joe Biden
    Personal Finance

    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?
    By Ambrish Shah
  • Student studying and FedLoan logo
    News

    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.
    By Rachel Curry
  • College students
    Personal Finance

    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.
    By Dan Clarendon
  • Biden signing executive order
    News

    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?
    By Rachel Curry
  • Student loan brochure
    Personal Finance

    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.
    By Dan Clarendon
  • Nvidia offers student loan payment assistance
    Personal Finance

    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?
    By Kathryn Underwood
  • President Biden
    News

    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.
    By Kathryn Underwood
  • People outside the U.S. Bankruptcy Court
    Personal Finance

    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.
    By Danielle Letenyei
  • Genius Brands COO  Michael Jaffa
    Consumer

    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?
    By Mohit Oberoi, CFA
  • Senator Schumer and other members of congress speak in favor of student loan forgiveness outside the U.S. Capitol
    Personal Finance

    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.
    By Kathryn Underwood
  • President Joe Biden
    News

    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.
    By Dan Clarendon
  • When Will Student Loan Payments Resume
    Personal Finance

    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.
    By Ambrish Shah
  • Credit
    Personal Finance

    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?
    By Andrew Krosofsky
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