Tag #Student Loans

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nbcnews.com

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Aug 23, 19:19

Federal Student Loan Wage Garnishments to Resume Soon

The U.S. Department of Education will soon resume wage garnishment for over 5.3 million student loan borrowers in default, potentially garnishing up to 15% of their disposable income, prompting calls for borrowers to act quickly to explore available options.

Federal Student Loan Wage Garnishments to Resume Soon

The U.S. Department of Education will soon resume wage garnishment for over 5.3 million student loan borrowers in default, potentially garnishing up to 15% of their disposable income, prompting calls for borrowers to act quickly to explore available options.

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What legal protections are available to borrowers facing wage garnishment for student loans?

The resumption of wage garnishments after a five-year pause due to the COVID-19 pandemic signifies a major shift for millions of borrowers. The government's ability to garnish wages, up to 15%, highlights the potential for significant financial hardship for many. However, legal protections exist, including hearings and challenges based on financial hardship or recent unemployment.

forbes.com

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Aug 13, 22:17

Soaring Student Loan Delinquencies Amidst System-Wide Turmoil

Student loan delinquency rates surged to 10.2% in Q2 2025, driven by application backlogs exceeding 1.5 million, impacting millions of borrowers and potentially leading to a 25% default rate in the federal student loan portfolio.

Soaring Student Loan Delinquencies Amidst System-Wide Turmoil

Student loan delinquency rates surged to 10.2% in Q2 2025, driven by application backlogs exceeding 1.5 million, impacting millions of borrowers and potentially leading to a 25% default rate in the federal student loan portfolio.

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What is the immediate impact of the rising student loan delinquency rates and application backlogs on the federal student loan system?

Student loan delinquency rates are sharply rising, reaching 10.2% of aggregate debt in Q2 2025, primarily due to the resumption of credit reporting after a five-year pause and backlogs in repayment plan applications. Millions of borrowers are falling behind on payments, with the potential for nearly 25% of the federal student loan portfolio to be in default soon.

forbes.com

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Jul 24, 19:14

Big, Beautiful Bill" Brings Immediate Changes to Federal Student Loan Programs

President Trump's "Big, Beautiful Bill" immediately alters federal student loan programs by eliminating the IBR Partial Financial Hardship requirement, enabling Parent PLUS loan access to IBR (upon consolidation by July 1, 2026), and including the new RAP plan in PSLF; however, it also reinstates st...

Big, Beautiful Bill" Brings Immediate Changes to Federal Student Loan Programs

President Trump's "Big, Beautiful Bill" immediately alters federal student loan programs by eliminating the IBR Partial Financial Hardship requirement, enabling Parent PLUS loan access to IBR (upon consolidation by July 1, 2026), and including the new RAP plan in PSLF; however, it also reinstates st...

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What are the immediate impacts of the "Big, Beautiful Bill" on federal student loan repayment and forgiveness programs?

The "Big, Beautiful Bill" immediately eliminates the Partial Financial Hardship requirement for the Income-Based Repayment (IBR) plan and allows Parent PLUS borrowers who consolidate loans by July 1, 2026, to access IBR. Additionally, payments made under the new Repayment Assistance Plan (RAP), once launched, will immediately count towards Public Service Loan Forgiveness (PSLF).

forbes.com

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Jul 16, 01:14

Senators Condemn Plan to Restart Interest on SAVE Student Loan Repayment Plan

Senators Warren, Sanders, and Schumer urged Education Secretary Linda McMahon to halt the plan to restart interest on the SAVE student loan repayment plan, accusing the Department of misleading the public about a court order; the Department plans to resume interest charges on August 1, 2025, leaving...

Senators Condemn Plan to Restart Interest on SAVE Student Loan Repayment Plan

Senators Warren, Sanders, and Schumer urged Education Secretary Linda McMahon to halt the plan to restart interest on the SAVE student loan repayment plan, accusing the Department of misleading the public about a court order; the Department plans to resume interest charges on August 1, 2025, leaving...

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What are the immediate consequences of the Department of Education's decision to resume interest on SAVE plan forbearance, and how will this impact borrowers?

In July 2025, the One Big Beautiful Bill ended the SAVE student loan repayment plan, phasing it out by June 30, 2028. The Department of Education, however, plans to restart interest on August 1, 2025, for borrowers in forbearance due to the SAVE plan's legal injunction, despite Senators urging them to stop. This action could cost borrowers an extra $300 monthly in interest.

cbsnews.com

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Jul 11, 16:17

Overhauled US Student Loan System: New Repayment Plans, Caps, and Pell Grant Changes

The new "One Big Beautiful Bill Act" overhauls the US federal student loan system, reducing repayment plans to two, imposing borrowing caps, tightening Pell Grant eligibility, and impacting millions of Americans. Interest will resume on August 1st, 2024, for 7.7 million SAVE plan participants.

Overhauled US Student Loan System: New Repayment Plans, Caps, and Pell Grant Changes

The new "One Big Beautiful Bill Act" overhauls the US federal student loan system, reducing repayment plans to two, imposing borrowing caps, tightening Pell Grant eligibility, and impacting millions of Americans. Interest will resume on August 1st, 2024, for 7.7 million SAVE plan participants.

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What are the immediate consequences of the 'One Big Beautiful Bill Act' on borrowers and the federal student loan system?

The "One Big Beautiful Bill Act" significantly alters the US federal student loan system, reducing repayment plans to two and imposing borrowing caps. Interest will resume August 1st for 7.7 million SAVE plan participants, while new borrowers (from July 1, 2026) will choose between a standard 10-25 year plan or a 30-year income-driven plan. This impacts millions of Americans already navigating shifting federal policies.

forbes.com

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Jul 9, 22:13

Trump Administration to Restart Interest on Student Loans Under SAVE Plan

The Trump administration will resume charging interest on student loans under the SAVE plan starting next month, potentially costing nearly 8 million borrowers an extra $3,500 annually, despite legal challenges from the SBPC.

Trump Administration to Restart Interest on Student Loans Under SAVE Plan

The Trump administration will resume charging interest on student loans under the SAVE plan starting next month, potentially costing nearly 8 million borrowers an extra $3,500 annually, despite legal challenges from the SBPC.

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What legal arguments support and oppose the Trump administration's decision to reinstate interest on SAVE plan loans?

This decision reverses the Biden administration's SAVE plan, which temporarily suspended interest. The Trump administration argues this is legally mandated, while the Student Borrower Protection Center (SBPC) disputes this, highlighting the absence of court orders explicitly requiring interest resumption. The move is part of a broader Trump administration effort to roll back Biden-era student loan relief initiatives.

forbes.com

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Aug 22, 19:20

Federal Student Loan Repayment Overhaul: Key Changes and Deadlines

The "One, Big, Beautiful Bill" overhauls the federal student loan system, phasing out ICR, PAYE, and SAVE plans by July 1, 2028, while preserving IBR for existing borrowers who meet specific conditions; Parent PLUS borrowers must consolidate before July 1, 2026, and enroll in ICR before July 1, 2028...

Federal Student Loan Repayment Overhaul: Key Changes and Deadlines

The "One, Big, Beautiful Bill" overhauls the federal student loan system, phasing out ICR, PAYE, and SAVE plans by July 1, 2028, while preserving IBR for existing borrowers who meet specific conditions; Parent PLUS borrowers must consolidate before July 1, 2026, and enroll in ICR before July 1, 2028...

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What immediate changes to federal student loan repayment plans are resulting from the "One, Big, Beautiful Bill", and how will these changes affect borrowers?

The "One, Big, Beautiful Bill" significantly alters the federal student loan system, phasing out ICR, PAYE, and SAVE plans by July 1, 2028, while preserving IBR for existing borrowers who meet specific conditions. Parent PLUS loan borrowers must consolidate before July 1, 2026, and enroll in ICR before July 1, 2028, to retain IBR eligibility.

english.elpais.com

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Aug 1, 19:17

Student Loan Interest to Resume, Impacting Millions

The interest moratorium on student loans for approximately eight million borrowers enrolled in the SAVE plan ends August 1, 2025, resulting in an average annual interest increase of $3,500 per borrower, significantly impacting low-income individuals; the SAVE plan will be fully repealed by July 1, 2...

Student Loan Interest to Resume, Impacting Millions

The interest moratorium on student loans for approximately eight million borrowers enrolled in the SAVE plan ends August 1, 2025, resulting in an average annual interest increase of $3,500 per borrower, significantly impacting low-income individuals; the SAVE plan will be fully repealed by July 1, 2...

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How did the legal challenges to the SAVE plan contribute to the current situation facing student loan borrowers?

The resumption of interest, while monthly payments remain suspended until at least December 2025, will significantly increase loan balances for SAVE plan participants. This increase stems from the end of a temporary court-ordered moratorium on interest accrual, a direct consequence of lawsuits challenging the SAVE plan. The additional interest burden disproportionately impacts low-income borrowers.

cbsnews.com

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Jul 23, 19:11

Soaring Household Debt in 2025: High Interest Rates and Renewed Loan Collections Fuel Crisis

High interest rates (averaging above 21% on credit cards), renewed student loan collections, and persistent spending habits are causing a surge in household debt in 2025, pushing many families to seek debt relief solutions.

Soaring Household Debt in 2025: High Interest Rates and Renewed Loan Collections Fuel Crisis

High interest rates (averaging above 21% on credit cards), renewed student loan collections, and persistent spending habits are causing a surge in household debt in 2025, pushing many families to seek debt relief solutions.

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What is the primary driver of the increase in household debt in 2025, and what are its immediate consequences?

Rising costs and high interest rates (above 21% on average for credit cards) are pushing families into debt, exacerbated by the resumption of federal student loan collections. This has led to a surge in household debt in 2025, with many struggling to manage existing expenses.

cbsnews.com

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Jul 15, 01:15

New Student Loan Law Restricts Repayment Options and Forgiveness

A new law signed on July 4, 2025, phases out income-driven repayment (IDR) plans for federal student loans, tightens borrowing limits, and makes forgiveness harder to access, potentially leaving borrowers with fewer repayment options and stricter caps on borrowing.

New Student Loan Law Restricts Repayment Options and Forgiveness

A new law signed on July 4, 2025, phases out income-driven repayment (IDR) plans for federal student loans, tightens borrowing limits, and makes forgiveness harder to access, potentially leaving borrowers with fewer repayment options and stricter caps on borrowing.

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What immediate financial consequences will the July 4th, 2025 student loan bill have on borrowers?

A new law signed on July 4, 2025, modifies federal student loan repayment and forgiveness programs. Key changes include phasing out popular income-driven repayment (IDR) plans and tightening borrowing limits. This will leave borrowers with fewer options and potentially higher monthly payments.

forbes.com

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Jul 9, 19:15

Trump Administration to Restart Interest on 8 Million Student Loans in SAVE Plan Forbearance

The Trump administration will begin charging interest on student loans in the SAVE plan forbearance starting in August, impacting eight million borrowers, despite prior assurances to the contrary, amid ongoing legal challenges and operational issues within the Department of Education.

Trump Administration to Restart Interest on 8 Million Student Loans in SAVE Plan Forbearance

The Trump administration will begin charging interest on student loans in the SAVE plan forbearance starting in August, impacting eight million borrowers, despite prior assurances to the contrary, amid ongoing legal challenges and operational issues within the Department of Education.

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What are the long-term implications of this decision for student loan borrowers and the overall student loan system?

The resumption of interest will likely deepen financial strain on borrowers already facing economic challenges. The combination of this policy change with other recent actions like repealing affordable repayment plans and increased wage garnishment suggests a broader trend towards stricter debt collection practices and reduced support for student loan borrowers. The lack of transparency and contradictory information from the Department of Education further erodes public trust and may lead to increased legal challenges.

cbsnews.com

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Jul 9, 22:13

New Student Loan Law Restricts Repayment Options, Tightens Borrowing Limits

A new law signed on July 4, 2025, alters federal student loan repayment, phasing out popular income-driven repayment plans, tightening borrowing limits, and making loan forgiveness more difficult to obtain, potentially impacting millions of borrowers.

New Student Loan Law Restricts Repayment Options, Tightens Borrowing Limits

A new law signed on July 4, 2025, alters federal student loan repayment, phasing out popular income-driven repayment plans, tightening borrowing limits, and making loan forgiveness more difficult to obtain, potentially impacting millions of borrowers.

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What are the immediate impacts of the new student loan law on borrowers' repayment options and financial obligations?

The new student loan law, effective July 4, 2025, phases out income-driven repayment (IDR) plans, tightens borrowing limits, and restricts loan forgiveness, potentially increasing repayment burdens for borrowers.

Showing 1 to 12 of 75 results