Tag #Student Loans

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npr.org

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Apr 30, 19:21

House Republicans Propose Major Student Loan Overhaul

House Republicans unveiled a plan to overhaul the federal student loan system, eliminating several repayment plans, ending the Grad PLUS program, and imposing stricter limits on Parent PLUS loans while also making colleges responsible for a share of defaulted loans; the plan aims to cut over \$330 b...

House Republicans Propose Major Student Loan Overhaul

House Republicans unveiled a plan to overhaul the federal student loan system, eliminating several repayment plans, ending the Grad PLUS program, and imposing stricter limits on Parent PLUS loans while also making colleges responsible for a share of defaulted loans; the plan aims to cut over \$330 b...

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What are the immediate and specific impacts of the Republican proposal on student loan repayment options and financial aid programs?

The Republican plan to reform the federal student loan system proposes eliminating existing income-contingent repayment options, replacing them with a new plan featuring a 30-year maximum repayment term. This plan also ends the Grad PLUS loan program and imposes stricter limits on Parent PLUS loans. Colleges will be held accountable for a share of student loan debt if their students fail to repay.

forbes.com

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Apr 30, 04:15

House Committee Advances Bill to Reform Student Loan Programs

The House Education and Workforce Committee advanced a bill reforming student loans, limiting Pell Grants to students enrolled in 30 semester hours, capping federal borrowing at $150,000 for professional degrees, and reducing repayment plan options to two, potentially impacting millions of students.

House Committee Advances Bill to Reform Student Loan Programs

The House Education and Workforce Committee advanced a bill reforming student loans, limiting Pell Grants to students enrolled in 30 semester hours, capping federal borrowing at $150,000 for professional degrees, and reducing repayment plan options to two, potentially impacting millions of students.

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How might the proposed changes to student loan repayment plans affect overall student debt and repayment burdens?

This bill significantly alters student financial aid, potentially decreasing access for lower-income students and increasing repayment burdens. The changes to Pell Grant eligibility and loan limits directly impact affordability, potentially reducing college enrollment. The elimination of subsidized loans shifts more financial responsibility to students.

abcnews.go.com

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Apr 22, 04:08

5 Million Americans Face Student Loan Collections Resumption on May 5

The Department of Education announced that on May 5, 2024, it will resume collections on defaulted student loans for approximately 5 million borrowers, marking the end of a pandemic-related pause and raising concerns about the impact of staff cuts within the department.

5 Million Americans Face Student Loan Collections Resumption on May 5

The Department of Education announced that on May 5, 2024, it will resume collections on defaulted student loans for approximately 5 million borrowers, marking the end of a pandemic-related pause and raising concerns about the impact of staff cuts within the department.

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What are the immediate consequences of the May 5th resumption of student loan collections for the 5 million affected borrowers?

On May 5th, 2024, approximately 5 million Americans with defaulted student loans will re-enter the collections process. This marks the resumption of loan collections after a pandemic-related pause, impacting borrowers' credit scores and potentially affecting access to future aid. The Department of Education asserts this protects taxpayers.

dailymail.co.uk

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Apr 21, 04:11

UK Student Loan System Faces "Critical Collapse", AI Overhaul Planned

Outdated IT systems at the UK's Student Loans Company (SLC) risk leaving millions of students without loans and expose their data to hackers; Education Secretary Bridget Phillipson is initiating an AI-driven overhaul to modernize the system, reduce costs, and enhance data security.

UK Student Loan System Faces "Critical Collapse", AI Overhaul Planned

Outdated IT systems at the UK's Student Loans Company (SLC) risk leaving millions of students without loans and expose their data to hackers; Education Secretary Bridget Phillipson is initiating an AI-driven overhaul to modernize the system, reduce costs, and enhance data security.

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How does the current manual data handling process contribute to the escalating costs and security risks within the SLC?

The SLC's reliance on eight outdated IT systems, six of which are non-compliant with data protection laws, creates vulnerabilities to cyberattacks and jeopardizes student data. The manual data transfer by 45 percent of its 3,300-person workforce is inefficient and costly. The proposed AI-driven modernization aims to address these systemic issues and improve the efficiency and security of the loan disbursement process.

forbes.com

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Apr 9, 13:20

Federal Student Loan Payments Resume, Impacting Borrower Credit Scores

The end of pandemic-related pauses on federal student loan payments has resulted in millions of borrowers facing negative credit consequences for the first time since the start of the pandemic, including damaged credit scores and potential wage or tax refund garnishment.

Federal Student Loan Payments Resume, Impacting Borrower Credit Scores

The end of pandemic-related pauses on federal student loan payments has resulted in millions of borrowers facing negative credit consequences for the first time since the start of the pandemic, including damaged credit scores and potential wage or tax refund garnishment.

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What factors contributed to the current situation where borrowers are experiencing negative credit impacts from their student loans?

The resumption of student loan reporting to credit bureaus reflects the end of pandemic-era relief measures. The lack of further extensions means borrowers now face the credit consequences of past-due payments, illustrating the shift from temporary support to a return to standard loan servicing practices. This impacts millions of borrowers.

forbes.com

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Mar 21, 22:09

Trump Transfers Student Loan System to SBA Amidst Department of Education Closure

President Trump unexpectedly ordered the transfer of the federal student loan system from the Department of Education to the Small Business Administration, despite prior assurances and legal concerns, potentially causing significant disruptions for millions of borrowers already facing difficulties w...

Trump Transfers Student Loan System to SBA Amidst Department of Education Closure

President Trump unexpectedly ordered the transfer of the federal student loan system from the Department of Education to the Small Business Administration, despite prior assurances and legal concerns, potentially causing significant disruptions for millions of borrowers already facing difficulties w...

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What are the immediate consequences of transferring the federal student loan system to the SBA, given the existing challenges faced by borrowers?

President Trump announced the immediate transfer of the federal student loan system from the Department of Education to the Small Business Administration (SBA), contradicting prior assurances and raising concerns about potential disruptions to repayment plans and forgiveness programs. This follows his order to close the Department of Education, a move deemed illegal by legal experts.

forbes.com

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Apr 30, 19:21

SoFi Stock Surges on Strong Q1 Results, but Faces Uncertain Future

SoFi Technologies reported exceeding first-quarter 2025 results, with $772 million in adjusted net revenue (33% YoY growth), and raised full-year guidance, but faces uncertainties from government policies and global economic conditions.

SoFi Stock Surges on Strong Q1 Results, but Faces Uncertain Future

SoFi Technologies reported exceeding first-quarter 2025 results, with $772 million in adjusted net revenue (33% YoY growth), and raised full-year guidance, but faces uncertainties from government policies and global economic conditions.

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How might government policies, particularly regarding cryptocurrencies and student loans, influence SoFi's future growth trajectory?

SoFi's Q1 2025 adjusted net revenue reached $772 million (33% YoY growth), exceeding expectations by $33 million. This success, coupled with raised guidance, reflects strong performance across various financial services, including a 101% YoY increase in financial services revenue.

forbes.com

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Apr 24, 19:17

Trump Administration's Actions Trigger Crisis in Higher Education

The Trump administration is reshaping higher education by defunding diversity programs, threatening research funding, cracking down on student visas, and resuming student loan collections, leading to lawsuits, protests, and financial crises at major universities.

Trump Administration's Actions Trigger Crisis in Higher Education

The Trump administration is reshaping higher education by defunding diversity programs, threatening research funding, cracking down on student visas, and resuming student loan collections, leading to lawsuits, protests, and financial crises at major universities.

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What are the immediate financial and enrollment impacts of the Trump administration's actions on higher education?

The Trump administration's actions have directly impacted higher education funding and international student enrollment. The NIH froze grants to Harvard and other universities for their DEI programs, while visa revocations have caused uncertainty and decreased international student numbers. These actions have resulted in lawsuits and universities exploring alternative funding sources.

foxnews.com

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Apr 22, 01:12

Federal Student Loan Collections to Resume in May

The Department of Education will resume collecting on defaulted federal student loans in May 2024, affecting 4 million borrowers and addressing $1.6 trillion in outstanding debt, while also seeking Congressional collaboration on higher education reform.

Federal Student Loan Collections to Resume in May

The Department of Education will resume collecting on defaulted federal student loans in May 2024, affecting 4 million borrowers and addressing $1.6 trillion in outstanding debt, while also seeking Congressional collaboration on higher education reform.

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What is the immediate impact of the Department of Education's decision to resume federal student loan collections?

The Department of Education will restart collections on defaulted federal student loans in May 2024, impacting 4 million borrowers 91-180 days late. This follows a pause since 2020 due to the COVID-19 pandemic and aims to address the $1.6 trillion in outstanding student loan debt. The administration believes taxpayers shouldn't subsidize unpaid loans.

forbes.com

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Apr 18, 16:13

Avoiding Student Loan Debt: Expert Tips for Families

Facing a potential \$90 billion in new student loans this fall and uncertainty over repayment, families are urged to start saving early via 529 plans, choose affordable colleges carefully, and prioritize financial literacy for their children to avoid crippling debt.

Avoiding Student Loan Debt: Expert Tips for Families

Facing a potential \$90 billion in new student loans this fall and uncertainty over repayment, families are urged to start saving early via 529 plans, choose affordable colleges carefully, and prioritize financial literacy for their children to avoid crippling debt.

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How can parents effectively guide their children toward making informed decisions about college choices and financial planning to reduce the risk of excessive debt?

The rising cost of higher education and looming student loan debt crisis highlight the need for proactive planning. By starting early college savings, exploring affordable colleges, and teaching children financial literacy, families can lessen the burden of student loans. This approach directly addresses the systemic issue of escalating college costs and potential debt traps.

forbes.com

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Apr 7, 16:11

Trump Transfers $1.6 Trillion Student Loan Program to SBA

President Trump's executive order shifts the $1.6 trillion federal student loan program from the Education Department to the Small Business Administration (SBA), impacting 43 million borrowers; however, individual loan terms remain legally protected.

Trump Transfers $1.6 Trillion Student Loan Program to SBA

President Trump's executive order shifts the $1.6 trillion federal student loan program from the Education Department to the Small Business Administration (SBA), impacting 43 million borrowers; however, individual loan terms remain legally protected.

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What are the immediate consequences for student loan borrowers following the transfer of the federal student loan program to the SBA?

President Trump's executive order transfers the $1.6 trillion federal student loan program from the Education Department to the Small Business Administration (SBA). This impacts 43 million borrowers, but their loan terms—interest rates, repayment schedules, and available programs—remain unchanged by law and contract. The SBA, traditionally focused on small businesses, now oversees this massive loan portfolio.

elpais.com

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Mar 21, 10:12

Trump Orders Dismantling of Department of Education

President Trump signed an executive order to dismantle the Department of Education, citing poor student performance (70% of 8th graders lack reading proficiency, 72% in math), despite the department's management of $1.6 trillion in student loans and grants; the decree directs Secretary McMahon to fa...

Trump Orders Dismantling of Department of Education

President Trump signed an executive order to dismantle the Department of Education, citing poor student performance (70% of 8th graders lack reading proficiency, 72% in math), despite the department's management of $1.6 trillion in student loans and grants; the decree directs Secretary McMahon to fa...

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What are the immediate consequences of President Trump's executive order dismantling the Department of Education?

President Trump signed a decree to dismantle the Department of Education, claiming its failure to improve US students' results. He cited low scores in reading and math, with 70% of 8th graders lacking reading proficiency and 72% deficient in math. The decree directs Secretary McMahon to facilitate the department's closure, returning authority to states.

Showing 37 to 48 of 75 results