Biden administration did not fast-track student loan plan

Biden administration did not fast-track student loan plan

A senior Biden administration official says the U.S. Department of Education did not plan to begin forgiving up to $147 billion in student debt for as many as 25 million Americans before publishing a final rule on the program — despite claims to the contrary by seven Republican state attorneys general. Those AGs last week … Read more

Problems with college financial aid impacted students

Problems with college financial aid impacted students

Ramon Montiel-García, 18, a graduate of KIPP Northeast Denver Leadership Academy in Colorado. Credit: Ramon Montiel-García Ramon Montiel-García, a newly minted high school graduate from KIPP Northeast Denver Leadership Academy in Colorado, was accepted to his first-choice school, Wheaton College in Massachusetts.  However, with a sticker price of nearly $80,000 per year, including tuition, fees, and … Read more

Student loan forgiveness deadline extended by Biden administration

Student loan forgiveness deadline extended by Biden administration

President Joe Biden delivers remarks on canceling student debt on February 21, 2024 in Culver City, California. Mario Tama | Getty Images News | Getty Images The U.S. Department of Education is giving borrowers more time to meet a key student loan forgiveness deadline. Those who request a so-called loan consolidation by June 30 — … Read more

He got his student debt forgiven. And then a $56,801 refund

He got his student debt forgiven. And then a ,801 refund

Marlon and his dog, George. Courtesy: Since 1988, Marlon Fox has been paying down his federal student debt. He didn’t see an end in sight. Then, on Aug. 25, 2023, an email popped up in his inbox with the subject line: “Your student loans have been forgiven!” His $119,500 balance was reset to zero. “I … Read more

Education Department announces aid for rocky FAFSA rollout

Education Department announces aid for rocky FAFSA rollout

The U.S. Department of Education announced Monday it is introducing a “FAFSA College Support Strategy” with additional personnel, funding, resources and technology to help colleges process the new Free Application for Federal Student Aid forms after the rollout was repeatedly complicated by a number of setbacks.   “We are determined to get this right,” U.S. Secretary of Education Miguel … Read more

What to know about your credit as student loan bills restart

What to know about your credit as student loan bills restart

D3sign | Moment | Getty Images On-ramp period should protect your credit Generally, failing to make timely payments on debts, including your student loans, can damage your credit. Payment history accounts for 35% of your score, according to FICO. Typically, “missing just one payment can cause your credit score to drop by 50 to 100 … Read more

Issues with the new FAFSA rollout leaves students, families frustrated

Issues with the new FAFSA rollout leaves students, families frustrated

For many families, financial aid is crucial when it comes to affording college. But students must first fill out the Free Application for Federal Student Aid to access any assistance, including student loans, work study and grants. And this year, a new FAFSA form has been plagued by problems. “It does seem consistent with a process that was rushed … Read more