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Student Loan Crisis

Random News

Student Loan Crisis

Random News
Headlines

Financing

More than 5 million student loan borrowers are in default. Education Department says they will be referred to debt collection

Editor03 mins

By —Annie Ma, Associated Press WASHINGTON (AP) — The Education Department will begin collection next month on student loans that are in default, including the garnishing of wages for potentially millions of borrowers, officials said Monday. Currently, roughly 5.3 million borrowers are in default on their federal student loans. The Trump administration’s announcement marks an…

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Understanding Financial Aid for College: A Guide

Editor010 mins

By Sarah Wood Sarah Wood edits content for Consumer Advice-Education and covers financial aid, student debt, tuition and many other topics related to secondary and postsecondary education. She also edits and manages The Bottom Line, a free newsletter that provides advice to prospective MBA students. Many families are shocked by a college’s sticker price. While the cost of…

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More student-loan borrowers will face shrinking paychecks when Trump’s collections pause lifts

Editor04 mins

By Ayelet Sheffey Millions of student-loan borrowers are falling into default — and the newest wave is older than before. About 3.6 million federal student-loan borrowers defaulted in the past two quarters, after a pandemic-era repayment pause ended and collections began again, according to new data from the New York Federal Reserve. Researchers said the average newly-defaulted…

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5 facts about student loans

Editor05 mins

By Richard Fry and Anthony Cilluffo Americans owe about $1.6 trillion in student loans as of June 2024 – 42% more than what they owed a decade earlier. The increase has come as greater shares of young U.S. adults go to college and as the cost of higher education increases. Here are five facts about student loans in America…

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Student loan forgiveness is the overlooked remedy that could help close the racial wealth gap

Editor06 mins

By Amiah Taylor Joe Biden has canceled more student loan debt than any other U.S. president, forgiving $16 billion in federal student loans for targeted groups such as disabled borrowers, and students who were defrauded by their institutions. Since April, Biden has been deliberating widespread student loan forgiveness and has also been considering income caps that would exclude high earners…

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