Study shows high student loan default rates in black communities - Student Tax OPtion

Student Loans Result in High Default Rates in Black Borrowers, Study Says

Betsy DeVos said the federal student loan industry is broken. The system is broken, but not necessarily for the reason DeVos believes. DeVos focuses on taxpayers while there is a more pressing discrepancy – race. The Federal Reserve Bank of New York reported that in the third quarter of 2019, 11% of the total student debt was over 90 days …

Pete Buttigieg's College Affordability Plan - Student Tax OPtion

Pete Buttigieg’s American Opportunity Agenda Revealed

Pete Buttigieg is a Lieutenant in the United States Navy, was a two term mayor of South Bend, Indiana, and was a hopeful Democratic candidate for United States President in 2020. During his terms as mayor, Pete Buttigieg accomplished many community transformations, even though he took a leave of absence during his firs term to deploy to Afghanistan. Some of …

Pete Buttigieg's plan to avoid student loans - Student Tax OPtion

The goal of canceling student debt is complicated, according to companies like CommonBond

Former presidential candidate Pete Buttigieg wanted to cancel student loan debt, but private lenders like the company CommonBond had mixed feelings about this. Buttigieg’s plan was to make the tuition for public colleges free for the students’ families if they made less than $100,000, or be granted subsidies if their families earned around $150,000. Another potential plan suggested making tuition …

Woman in student loan limbo - Student Tax OPtion

Navient Lets Down Woman in Student Loan Limbo

A New Jersey woman has found out the hard way that student loan providers do not always have the best interest of their borrowers in mind. Annette Gunn, 51, says she started out owing $60,000 after her 1997 graduation from Southern Wesleyan University. Now, she owes $100,000 to her student loan provider, Navient. Gunn’s student loans have been in forbearance …

Student Loan Debt Contributes to Teacher Shortage Crisis - Student Tax OPtion

Student loan debt contributes to teacher shortage crisis

Student loan debt and the burden it places on college graduates throughout the country is becoming an issue on the minds of many. On both sides of the aisle, from a former Trump administration senior student-loan official calling the student-loan system “fundamentally broken” to charges filed against U.S. Secretary of Education Betsy DeVos and the Education Department for collecting loan …

stimulus check - Student Tax OPtion

Is Your Stimulus Payment Exempt from Student Loan Repayment?

There are 44 million people with student loan debt. The COVID-19 global pandemic has left many borrowers suddenly unemployed and panicked at their growing financial needs. Many are scrambling to find adequate employment to meet at least a fraction of their current expenses, while trying to manage unemployment payments. In response to the record-shattering unemployment claims filed in response to …

Will I get a stimulus check if I defaulted on my student loans - Student Tax OPtion

Student Loans Pause and New Stimulus Checks Proceed

The second round of stimulus checks will soon be arriving to millions of Americans, including those with defaulted student loans, thanks to the CARES Act. A temporary pause will ensue regarding paying back those loans for the time being. In addition, these Americans won’t be penalized by the IRS and will also not have their social security payments or income …

should college savers opt for student loans this fall? - Student Tax OPtion

Choosing Student Loans Instead of College Savings This Fall

You and your family may have saved for college in the form of a 529 college savings plan, but should you opt for student loans this fall instead? You may be concerned about your investment due to the recent nationwide economic downturn. The coronavirus pandemic has been detrimental to the U.S. economy, and that has included a volatile stock market. …

Beware of this Student Loan Scam - Student Tax OPtion

Beware of this Student Loan Scam

As a student loan borrower, you need to be cautious about what type of student loan services you sign up for and what terms you agree to. Unfortunately, there is a scam happening where loan borrowers are allegedly getting charged for loan assistance services the federal government offers for free. Beware of this and other scams by following guidelines that …

stimulus act shows risk of private student loans - Student Tax OPtion

The Private Student Loan Trap

Federal student loan lenders and private student loan lenders control the educational future of many student borrowers who cannot otherwise afford higher education. The private student loan market is worth $130 billion, accounting for more than one million loans. The federal student loan market is worth $1.5 trillion. Federal student loans are loans made by the government. Federal student loan …