Tag #Student Loan Debt

Showing 13 to 24 of 37 results

forbes.com

🌐 85% Global Worthiness

May 12, 16:10

GOP's Student Loan Plan to Increase Borrower Costs by $3,000 Annually

The GOP's Repayment Assistance Plan (RAP) would replace the SAVE plan, increasing average annual student loan payments by roughly $3,000 for most borrowers, while extending repayment terms to 30 years and eliminating negative amortization, to offset a projected $330 billion reduction in federal spen...

GOP's Student Loan Plan to Increase Borrower Costs by $3,000 Annually

The GOP's Repayment Assistance Plan (RAP) would replace the SAVE plan, increasing average annual student loan payments by roughly $3,000 for most borrowers, while extending repayment terms to 30 years and eliminating negative amortization, to offset a projected $330 billion reduction in federal spen...

Progress

40% Bias Score

ShareSaveArticle

Reduced Inequality

12345678

Previous 1 of 8 Next

What are the potential long-term consequences of the GOP's plan on student debt, federal spending, and the broader economy?

While some high-income earners or those with small loan balances might see minor increases or even savings under RAP, the vast majority of borrowers would experience substantially higher monthly payments. This increased cost for borrowers directly offsets the proposed $330 billion reduction in federal spending on education over the next decade.

elpais.com

🌐 85% Global Worthiness

May 7, 04:14

US Restarts Student Loan Collections, Impacting Millions

The U.S. government restarts student loan collections for five million borrowers, impacting tax refunds, Social Security, and credit scores, with Latinos and Blacks disproportionately affected; Congress considers further changes to loan programs.

US Restarts Student Loan Collections, Impacting Millions

The U.S. government restarts student loan collections for five million borrowers, impacting tax refunds, Social Security, and credit scores, with Latinos and Blacks disproportionately affected; Congress considers further changes to loan programs.

Progress

48% Bias Score

ShareSaveArticle

Reduced Inequality

12345678

Previous 1 of 8 Next

What are the immediate consequences for the five million borrowers whose student loans are entering repayment?

The U.S. government has resumed collecting on defaulted student loans after a five-year pause, impacting approximately five million borrowers. Immediate consequences include potential reduction or elimination of tax refunds and Social Security checks within 30 days; wage garnishment is also planned for summer 2024.

us.cnn.com

🌐 85% Global Worthiness

May 5, 16:13

Record High Student Loan Delinquency Rate Impacts 4 Million Borrowers

TransUnion reports a record 20.5% of federal student loan borrowers are seriously delinquent (90+ days past due), up from 11.5% pre-pandemic, impacting 4 million borrowers and severely damaging credit scores, as payments resume after the Covid-era pause.

Record High Student Loan Delinquency Rate Impacts 4 Million Borrowers

TransUnion reports a record 20.5% of federal student loan borrowers are seriously delinquent (90+ days past due), up from 11.5% pre-pandemic, impacting 4 million borrowers and severely damaging credit scores, as payments resume after the Covid-era pause.

Progress

44% Bias Score

ShareSaveArticle

Reduced Inequality

12345678

Previous 1 of 8 Next

How does the severity of student loan delinquency vary across different credit score categories, and what are the contributing factors?

The rising delinquency rate, impacting one in five borrowers, is linked to the resumption of federal student loan payments after the pandemic pause. This increase is particularly pronounced among subprime borrowers (50.8% seriously delinquent), highlighting the financial strain on lower-income individuals. The resulting credit score damage (average 63-point drop) will hinder access to credit and increase borrowing costs.

cnn.com

🌐 85% Global Worthiness

May 4, 22:11

Student Loan Collections Resume, Impacting Millions

The Department of Education restarted the collection of defaulted student loans on July 9th, 2024, impacting over 5 million borrowers who risk wage and benefit garnishment, reversing Biden-era policies and potentially exacerbating economic inequalities.

Student Loan Collections Resume, Impacting Millions

The Department of Education restarted the collection of defaulted student loans on July 9th, 2024, impacting over 5 million borrowers who risk wage and benefit garnishment, reversing Biden-era policies and potentially exacerbating economic inequalities.

Progress

36% Bias Score

ShareSaveArticle

No Poverty

12345678

Previous 1 of 8 Next

What immediate consequences will the resumption of student loan collections have on millions of American borrowers?

The Department of Education resumed collecting defaulted student loans on July 9th, 2024, impacting over 5 million borrowers. This action allows the government to garnish wages and benefits through programs like the Treasury Offset Program and administrative wage garnishment. The resumption of collections comes as the Trump administration reverses Biden-era policies.

forbes.com

🌐 85% Global Worthiness

May 2, 16:14

House GOP Bill to Slash Student Loan Forgiveness Programs

The House GOP passed a bill to repeal income-driven repayment (IDR) plans for federal student loans after July 1, 2026, replacing them with a less generous plan, potentially increasing monthly payments by thousands of dollars for millions of borrowers, offsetting costs of tax cuts.

House GOP Bill to Slash Student Loan Forgiveness Programs

The House GOP passed a bill to repeal income-driven repayment (IDR) plans for federal student loans after July 1, 2026, replacing them with a less generous plan, potentially increasing monthly payments by thousands of dollars for millions of borrowers, offsetting costs of tax cuts.

Progress

48% Bias Score

ShareSaveArticle

Reduced Inequality

12345678

Previous 1 of 8 Next

How does the proposed legislation connect to broader Republican budget priorities?

The proposed changes connect to broader Republican efforts to slash government spending and offset the costs of tax cuts. The SBPC argues this prioritizes tax cuts for the wealthy over support for working families struggling with student loan debt. The bill's impact will disproportionately affect low-income borrowers, who may face minimum monthly payments even below the poverty line, unlike existing IDR plans.

forbes.com

🌐 85% Global Worthiness

Apr 22, 04:08

Wage Garnishment for Defaulted Student Loans to Resume in 2025

The U.S. Department of Education will restart wage garnishment (up to 15% of disposable income), tax refund seizure, and Social Security benefit reduction for over 5 million borrowers in default on federal student loans, starting May 5, 2025, after a pandemic-related pause.

Wage Garnishment for Defaulted Student Loans to Resume in 2025

The U.S. Department of Education will restart wage garnishment (up to 15% of disposable income), tax refund seizure, and Social Security benefit reduction for over 5 million borrowers in default on federal student loans, starting May 5, 2025, after a pandemic-related pause.

Progress

48% Bias Score

ShareSaveArticle

Reduced Inequality

12345678

Previous 1 of 8 Next

What are the potential long-term consequences of this policy shift on borrowers and the overall student loan system?

The long-term impact could be increased financial instability for millions of borrowers, potentially leading to higher rates of bankruptcy or homelessness. The difficulty of accessing support from a potentially understaffed Department of Education adds to this concern. This policy shift underscores the need for improved financial literacy programs and more affordable higher education options.

forbes.com

🌐 85% Global Worthiness

May 7, 16:14

Federal Government Seizes Wages and Benefits from Nearly 200,000 Defaulted Student Loan Borrowers

The Department of Education is seizing wages and benefits from nearly 200,000 defaulted federal student loan borrowers starting in June, part of a larger effort to collect on 5.3 million defaulted loans, impacting tax refunds, salaries, and benefits, and potentially worsening financial hardship.

Federal Government Seizes Wages and Benefits from Nearly 200,000 Defaulted Student Loan Borrowers

The Department of Education is seizing wages and benefits from nearly 200,000 defaulted federal student loan borrowers starting in June, part of a larger effort to collect on 5.3 million defaulted loans, impacting tax refunds, salaries, and benefits, and potentially worsening financial hardship.

Progress

48% Bias Score

ShareSaveArticle

Reduced Inequality

12345678

Previous 1 of 8 Next

What immediate impact will the resumption of federal student loan debt collection have on borrowers?

The Department of Education is resuming wage and benefit seizures from nearly 200,000 defaulted federal student loan borrowers, marking the first wave of collections actions after a five-year pause. This involves intercepting federal payments via the Treasury Offset Program, impacting tax refunds, salaries, and benefits. Borrowers have 30 days to respond before seizures begin in early June.

forbes.com

🌐 85% Global Worthiness

May 5, 19:20

Student Loan Wage Garnishment Resumes After Pandemic Pause

The federal government restarted wage garnishment for defaulted federal student loans on May 5, 2025, impacting millions of borrowers and potentially seizing up to 15% of their wages, tax refunds, or Social Security benefits.

Student Loan Wage Garnishment Resumes After Pandemic Pause

The federal government restarted wage garnishment for defaulted federal student loans on May 5, 2025, impacting millions of borrowers and potentially seizing up to 15% of their wages, tax refunds, or Social Security benefits.

Progress

56% Bias Score

ShareSaveArticle

Reduced Inequality

12345678

Previous 1 of 8 Next

How does the resumption of student loan wage garnishment affect different demographic groups?

The resumption of wage garnishment for defaulted student loans connects to broader economic trends. A Federal Reserve Bank study estimates nearly 10 million borrowers are past due, many already low-income. This disproportionately affects women, who hold two-thirds of student loan debt and earn less than men.

us.cnn.com

🌐 85% Global Worthiness

May 4, 16:10

Resumption of Federal Student Loan Collections Impacts Millions

The US Department of Education restarted collecting federal student loans in default on May 5, 2024, affecting over 5 million borrowers and potentially another 4 million, leading to wage and benefit garnishments and causing financial hardship for many amid economic challenges.

Resumption of Federal Student Loan Collections Impacts Millions

The US Department of Education restarted collecting federal student loans in default on May 5, 2024, affecting over 5 million borrowers and potentially another 4 million, leading to wage and benefit garnishments and causing financial hardship for many amid economic challenges.

Progress

48% Bias Score

ShareSaveArticle

No Poverty

12345678

Previous 1 of 8 Next

What are the immediate consequences of the US Department of Education's decision to resume federal student loan collections for millions of borrowers in default?

The US Department of Education restarted federal student loan collections on May 5th, 2024, impacting over 5 million borrowers in default and potentially another 4 million delinquent borrowers. This action could lead to wage and benefit garnishments, causing significant financial hardship for many, as exemplified by Davina Rush, a single mother caring for her severely brain-injured son, who faces potential food insecurity if payments are enforced.

cnn.com

🌐 85% Global Worthiness

May 4, 16:10

Federal Student Loan Payments Restart, Impacting Millions Amid Economic Uncertainty

The end of the pandemic-era pause on federal student loan payments on May 5, 2023, leaves over 5 million Americans in default facing wage and benefit garnishments, adding to financial strain amid inflation and global economic uncertainty, while 4 million more are delinquent.

Federal Student Loan Payments Restart, Impacting Millions Amid Economic Uncertainty

The end of the pandemic-era pause on federal student loan payments on May 5, 2023, leaves over 5 million Americans in default facing wage and benefit garnishments, adding to financial strain amid inflation and global economic uncertainty, while 4 million more are delinquent.

Progress

60% Bias Score

ShareSaveArticle

No Poverty

12345678

Previous 1 of 8 Next

How do economic factors, such as inflation and trade tensions, exacerbate the financial difficulties faced by borrowers?

The resumption of student loan collections coincides with economic challenges, including inflation and global market instability stemming from trade disputes. This confluence of factors intensifies the financial hardship for millions of borrowers, many of whom already faced difficulty making payments before the pandemic-era pause. The Department of Education is urging borrowers to explore repayment options or seek loan discharge through bankruptcy.

dailymail.co.uk

🌐 85% Global Worthiness

Apr 22, 10:15

Trump Administration to Garnish Wages of 5.3 Million Americans with Defaulted Student Loans

The Trump administration announced that it will begin garnishing the wages of over 5.3 million Americans with defaulted student loans, starting May 5th, ending pandemic-era leniency and reversing Biden-era forgiveness programs.

Trump Administration to Garnish Wages of 5.3 Million Americans with Defaulted Student Loans

The Trump administration announced that it will begin garnishing the wages of over 5.3 million Americans with defaulted student loans, starting May 5th, ending pandemic-era leniency and reversing Biden-era forgiveness programs.

Progress

56% Bias Score

ShareSaveArticle

Reduced Inequality

12345678

Previous 1 of 8 Next

What are the long-term implications of this policy change for student loan borrowers, the economy, and the future of student loan programs?

The resumption of wage garnishment could exacerbate existing economic inequalities and potentially lead to increased financial distress among borrowers. The long-term impact on consumer spending and the economy remains uncertain. Further, the shift in policy may create volatility in the student loan market and uncertainty for future borrowers.

forbes.com

🌐 85% Global Worthiness

Mar 27, 16:16

9 Million Student Loan Borrowers Delinquent Post-Pandemic Pause

Following a three-year pandemic payment pause, 9.2 million Americans are now delinquent on their student loans, representing a 43% delinquency rate among borrowers and over \$250 billion in delinquent debt; this surge is impacting credit scores and broader economic stability.

9 Million Student Loan Borrowers Delinquent Post-Pandemic Pause

Following a three-year pandemic payment pause, 9.2 million Americans are now delinquent on their student loans, representing a 43% delinquency rate among borrowers and over \$250 billion in delinquent debt; this surge is impacting credit scores and broader economic stability.

Progress

56% Bias Score

ShareSaveArticle

Reduced Inequality

12345678

Previous 1 of 8 Next

What is the immediate impact of the surge in student loan delinquencies on American borrowers and the broader economy?

Since student loan repayments resumed after a pandemic pause, approximately 9.2 million Americans—about 43% of those required to make payments—have become delinquent, resulting in over \$250 billion in delinquent student loan debt. This significant surge surpasses pre-pandemic levels and is expected to worsen, impacting credit scores and future financial opportunities.

Showing 13 to 24 of 37 results