University of Wisconsin-Milwaukee student Sh’Tejah Ward had a difficult decision ahead of her. She’d either have to take out nearly $9,000 of student loans in order to pay for the fall semester, or drop out of school entirely. Her mother hoped that she would be the first college graduate in her family, but now that prospect seemed nearly unattainable, even …
There’s a student loan crisis, and it’s not going away soon. While some graduates have the opportunity to repay their loans in full, others have enrolled in income-driven repayment plans. One additional group of student loan borrowers exists, too. They are college graduates who have fallen behind on their student loan payments. This group is considered to be in default, …
As the U.S. student loan debt total creeps up to $1.5 trillion, more than 44 million Americans live with outstanding student loan debt. Jason Iuliano, a Villanova la professor, found in his research that at least a million student loan debtors have filed for bankruptcy in the past five years. Of those, a surprising 99.9% of them didn’t include their …
With a very public fury from public servants with student loans, the U.S. Department of Education is responding. It was announced Thursday that the department will be simplifying the process in place for borrowers to apply for the expansion of the Public Service Loan Forgiveness (PSLF) Program, which has recently come under much criticism. This decision is at least in …
It’s a fact — more than two-thirds of American college graduates have student loan debt. Compared to the early 1990s, these graduates are also walking across the stage with higher amounts to repay. As a result, young Americans are purchasing fewer homes. Their eligibility for mortgages is at risk because of high monthly payments or inconsistent payment history. According to …
Student loan debt in the United States now totals over $1.6 trillion owed collectively by millions of people who have chosen to attend college. Outstanding student loans are now double what they were a decade ago and triple what they were in 2006. It has become increasingly difficult for people to quickly pay down their student loan balances. Repayment Options …
If you have the opportunity to pay off your student loan debt, congratulations. It’s a great relief, and another step toward achieving more financial freedom. The process can take years — even decades. Now, let’s talk about graduates that are enrolled in an income-driven repayment plan. Did you know that their student loan debt may be forgiven after 20 or …
The cost of a college education has risen significantly in the past decade, and most students have student loan debt. In 2020, there is now over $1 trillion in student loan debt in the United States. That total includes not only students who just graduated but also loan borrowers who have been trying to pay off their student loans for …
Holberton School in California has been accused of fraud, and regulators from the California Bureau of Private Postsecondary Education demanded the school cease operations. The California BPPE alleged Holberton obtained approval to operate by fraud in July of 2018 and falsified several things including their Application of Approval, enrollment agreements, and catalog. The institution also allegedly engaged in numerous prohibited …
More and more students are turning to student loans in order to earn a degree. As that becomes the norm, many are wondering whether putting off their retirement savings in favor of paying off their student loans fast. Amy Ouellette, director of retirement services for Betterment and Betterment for Business, says that is not the right move. Instead, Ouellette says …