- A Georgia man will spend years in prison for a fraud scheme that wiped out around $48 million in federal student loans for hundreds of borrowers that he claimed were disabled military veterans, officials say. Officials say 41-year-old De'reek Banks of Lithonia, Georgia operated a bus...
"College tuition in the U.S. has increased steadily for decades, which makes it increasingly difficult for students to affordhigher educationwithout taking out huge loans," the release said. "Stagnant wages and competitive job markets make it difficult for recent graduates to pay off their ...
In June,43.6 millionAmericans held federal student loan debt, with an average balance of $38,000 per borrower. In total, the U.S. has a collective balance of over$1.7 trillionin student loans. Student loansare the second-largest type of consumer-generated debt behind mortgages, accounting for...
ADepartment of Educationspokesperson praised the judge's "acknowledgment that this case has no legal basis to be brought in Georgia," in a statement to Reuters. The spokesperson characterized the GOP-led lawsuit as an attempt "to prevent millions of their own constituents from getting breath...
A federal judge in Georgia issued a court order in September, temporarily blocking Biden's "Plan B." Older Borrowers Struggle with High Student Loan Debt Biden has since moved forward with canceling student loans at a smaller scale: One such student loan ...
A federal judge in Georgia made a ruling that would allow for the Biden administration's sweeping relief that affects tens of millions of American borrowers—pending another potential challenge in Missouri. But with that good news comes more bad news—scams. "Whenever there is something in the ...
Kayla Smith, 22, joined Thompson at the overnight campout for a seat inside the court. A recent graduate of the University of Georgia, she also felt the discussion missed the bigger picture. Smith’s mother borrowed more than $20,000 in federal Parent Plus loans to help her pay f...
Cohen said if she had one piece of advice to pass on to other students after working on this story, it would be this: "Only take out the exact amount that you need to pay for tuition, fees and major living expenses in college like rent. I regret taking out more student loans than ...
The article offers advices on how to manage student loans. It explores the story of a student named Kimberly H. who ended up transferring schools after graduating high school in Atlanta, Georgia and owing a huge amount of student loans. I...
Among current borrowers,31.4% saw their debt loads shrink in 2023. Student Loans By State Fast Facts While the nationwide debt statistics paint a concerning picture, the actual debt loads vary significantly from state to state within a range of about $30,000. ...