The Biden administration is working onanother plan for broad-based student loan reliefthrough the Higher Education Act. But that process could take at least a year, and also could face legal challenges. In the meantime, the Education Department has been forgiving debt for specific types of borrow...
Can I apply for student loan forgiveness now? Not yet. The Department of Education is working on what the White House describes as "a simple application process for borrowers to claim relief." However, it may not be ready until the end of 2022. The Biden administration plans to have the ...
Other student loan forgiveness is due to changes to income-driven repayment plan rules. Related: Biden Cancels $1.2B in Student Loan Debt What is Borrower Defense loan discharge? One student loan debt relief initiative is the Borrower Defense to Repayment program, which the administration says has...
Forbearance isn’t the only pathway to student loan relief, and in many cases, other options might work better for you. Before opting for forbearance, consider these alternatives: If you temporarily can’t afford any payment. Student loan deferment is another way to pause federal student loan ...
Forbearance isn’t the only pathway to student loan relief, and in many cases, other options might work better for you. Before opting for forbearance, consider these alternatives: If you temporarily can’t afford any payment. Student loan deferment is another way to pause federal student loan ...
Section 110 allows an employer to match an employee’s student loan payment with an equivalent retirement contribution. This is intended to encourage borrowers to make payments since they’re getting a match to their retirement account in exchange. "In today’s age of volatility, protected retireme...
TrendingStudent LoansMoney Basics By Colin Salao Colin is a breaking news writer for TheStreet focused on sports business. Before The Street, he covered sports media business at Business Insider. He finished with a masters degree in journalism from Northwestern Univ...
Takeaway: Due to the financial impacts of the coronavirus pandemic, federal student loan payments were temporarily suspended under the the Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, in March 2020. After multiple extensions by the Trump and Biden adm...
benefits over a long period. Sabrina didn't need to go through that process, because the Education Department canceled her federal student loan balance in October through its recent relief effortsfor those who have been in repayment for many years. Her federal student loan debt was around $...
Once you find out who owns your loan, you can ensure your contact information is up-to-date and learn about any relief programs you may qualify for. You can take advantage of potential benefits like income-driven repayment plans. The Bottom Line Knowing who owns and services your student loa...