student debt

February 14, 2022 / Private student loans

Feds launch investigation into private student loans made by for-profit colleges – National Consumer News | Educating and Helping American Consumers | Disclose Fraudulent Advertising

Steve M. Lee / department education, federal student, higher education, interest rates, private loans, private student, student debt, student loans /

The Consumer Financial Protection Bureau (CFPB) says it will review the operations of post-secondary schools, such as for-profit colleges, that provide private loans directly to students. The CFPB publishes an update to its examination procedures including a new section on institutional student loans. As CFPB Begins Oversight, Examination Procedures Inform Industry of Practices CFPB Examiners […]

January 24, 2022 / Private student loans

Schools that provide private student loans using ‘illegal practices’ face a crackdown from Biden’s top consumer watchdog

Steve M. Lee / federal loans, federal student, interest rates, private loans, private student, student debt, student loans /

Consumer Financial Protection Bureau.Bill Clark/CQ-Roll Call, Inc via Getty Images The CFPB has announced it is looking into the “illegal practices” of schools granting private student loans. Schools can withhold transcripts and delay graduation if students are behind in paying their debts. Debt held by schools is generally not part of the $1.5 trillion federal […]

January 24, 2022 / Private student loans

Schools illegally provide private student loans to deal with crackdown: CFPB

Steve M. Lee / federal loans, federal student, interest rates, private loans, private student, student debt, student loans /

The CFPB has announced it is looking into the “illegal practices” of schools granting private student loans. Schools can withhold transcripts and delay graduation if students are behind in paying their debts. Debt held by schools is generally not part of the $1.5 trillion federal student loan program. Loading Something is loading. If students at […]

December 21, 2021 / Private student loans

Rate Bulletin for 10-Year Fixed Private Student Loans

Steve M. Lee / federal student, interest rates, private lenders, private student, student debt, student loans /

Our goal here at Credible Operations, Inc., NMLS number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are ours. The latest interest rate trends for student […]

September 28, 2021 / Student financial aid

Congressman Kim Introduces Biparty Bills To Improve Transparency In Student Financial Aid

Steve M. Lee / federal loans, financial aid, financial assistance, higher education, student aid, student debt, student financial, student loans /

Congressman Kim Introduces Biparty Bills To Improve Transparency In Student Financial Aid WASHINGTON, DC – Today, Congressman Andy Kim (NJ-03), introduced two bipartisan bills aimed at improving the transparency of student financial assistance. The Helping Students Plan for College Act, presented with Congressman Mike Kelly (PA-16), discusses the practice of scholarship displacement, which occurs when […]

August 25, 2021 / Private student loans

Circuit 2 argues that certain private student loans may be dischargeable under section 523 (a) (8) (A) (ii)

Steve M. Lee / private student, student debt, student loans /

The situation: In Homaidan v. Sallie Mae, Inc., et al., the United States Court of Appeals for the Second Circuit recently stated that certain types of private student loans are not “bonds[s] to repay funds received as educational benefits, scholarships or allowances ”which are exempt from discharge in bankruptcy in the absence of undue hardship. […]

August 20, 2021 / Private student loans

Circuit Two argues that certain private student loans may be dischargeable under Section 523 (a) (8) (A) (ii) – Insolvency / Bankruptcy / Restructuring

Steve M. Lee / private student, student debt, student loans /

United States: Circuit 2 argues that certain private student loans may be dischargeable under section 523 (a) (8) (A) (ii) To print this article, simply register or connect to Mondaq.com. The situation: In Homaidan v. Sallie Mae, Inc., et al., the United States Court of Appeals for the Second Circuit recently stated that certain types […]

July 28, 2021 / Student loan consolidation

Can You File Bankruptcy on Student Loans? – Councilor Forbes

Steve M. Lee / federal loans, federal student, private lenders, student debt, student loans /

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but this does not affect the opinions or ratings of our editors. Compare personalized student loan refinance rates Takes up to 3 minutes It is possible to get free from student loans through bankruptcy. The standard most commonly […]

July 22, 2021 / Student loan consolidation

Are you preparing to repay your student loan again? Consider an income-based option

Steve M. Lee / federal student, student aid, student debt, student loans /

BY Sydney lakeJuly 22, 2021, 02:00 Yu-Jui Huang, assistant professor of applied mathematics at the University of Colorado Boulder, worked on a study on the most cost-effective way to pay off student loans, as seen in June 2021. RJ Sangosti — MediaNews Group / The Denver Post / Getty Images. At the end of July, […]

July 19, 2021 / Private student loans

5 private student loans with flexible repayment options

Steve M. Lee / federal loans, federal student, interest rates, loans private, private lenders, private loans, private student, student debt, student loans /

Are you looking for additional funding beyond federal student loans for college? Or maybe you are considering refinancing your student loans with a private lender? Either way, the process of finding and applying for private student loans is a little different than for federal student loans. With federal loans, your loans are assigned to a […]

July 1, 2021 / Private student loans

Federal vs. Private student loans: what are the differences?

Steve M. Lee / federal loans, federal student, loans private, private lenders, private loans, private student, student aid, student debt, student loans /

Federal student loans and private student loans have different advantages and disadvantages. In general, federal loans are a better deal because they offer more protection and lower fixed rates. However, federal loans come with a origination fee, while most private lenders do not charge them. To learn more about Insider’s personal finance team coverage, click […]

June 29, 2021 / Student loan consolidation

Student loan managers often harm borrowers who request forgiveness of their utility loan

Steve M. Lee / department education, federal student, student debt, student loans /

Education Secretary Miguel Cardona testifies before work, health and social services, education … [+] and Related Agencies Subcommittee on Capitol Hill in Washington, DC, June 16, 2021. (Photo by JIM WATSON / AFP) (Photo by JIM WATSON / AFP via Getty Images) AFP via Getty Images A new report from the federal Consumer Financial Protection […]

June 25, 2021 / Student loan consolidation

Should You Refinance Your Mortgage To Pay Off Your Student Loans?

Steve M. Lee / federal student, private student, student debt, student loans /

Our goal is to give you the tools and the confidence you need to improve your finances. While we do receive compensation from our partner lenders, whom we will always identify, all opinions are ours. Credible Operations, Inc. NMLS # 1681276, is referred to herein as “Credible”. If you have a large student loan, it […]

June 17, 2021 / Private student loans

Pros and Cons of Private Student Loans

Steve M. Lee / department education, federal loans, federal student, interest rates, loans private, private lenders, private loans, private student, student debt, student loans /

Private student loans are educational loans offered by private lenders such as banks, credit unions, and online lenders. Unlike federal student loans, private loans usually don’t come with perks like income-based repayment plans and loan cancellation options – which is why it’s usually best to apply for loans first. federal student loans. But if you’ve […]

May 19, 2021 / Private student loans

Could private student loans be forgiven under Biden?

Steve M. Lee / department education, federal loans, federal student, financial assistance, higher education, interest rates, loans private, private student, student aid, student debt, student loans /

TOPSHOT – US President Joe Biden delivers remarks on COVID-19 response and vaccination in … [+] the East Room of the White House in Washington, DC on May 17, 2021. (Photo by Nicholas Kamm / AFP) (Photo by NICHOLAS KAMM / AFP via Getty Images) AFP via Getty Images President Biden has asked lawyers for […]

May 11, 2021 / Private student loans

Revise Debt Collection Laws and Cancel Private Student Loans

Steve M. Lee / federal student, private student, student debt, student loans /

A new bill would provide recourse to consumers and debtors tracked down by collection agencies. getty A invoice proposed by House Democrats would radically reform laws regulating debt collectors and provide further relief to private student loan borrowers. The legislation, known as the Comprehensive Debt Collection Improvement Act (HR 2547), would provide a remedy for […]

April 27, 2021 / Private student loans

Why You Should Consider Refinancing Private Student Loans

Steve M. Lee / federal student, interest rates, loans private, private lenders, private student, student debt, student loans /

Refinancing private student loans now could help lower monthly payments and save money on interest. (iStock) Federal student loans offer key benefits that you don’t always get with private student loans. For example, you may be one of the millions of federal student loan borrowers with temporary disruption of payments under the CARES Act. Whether […]

April 26, 2021 / Private student loans

Will private student loans be forgiven? What would you like to know

Steve M. Lee / department education, federal loans, federal student, interest rates, loans private, private loans, private student, student debt, student loans /

Select’s editorial team works independently to review financial products and write articles that our readers will find useful. We may receive a commission when you click on product links from our affiliate partners. In early April, President Biden asked the US Department of Education if his executive branch gave him the ability to adopt a […]

April 20, 2021 / Private student loans

Democrats introduce bill to cancel private student loans for borrowers and co-signers due to disability

Steve M. Lee / department education, federal student, higher education, private lenders, private student, student debt, student loans /

WASHINGTON, DC – JUNE 10: U.S. Rep. Madeleine Dean (D-Pa.) Interviews witnesses at a House court … [+] Police brutality and racial profiling committee hearing on June 10, 2020 in Washington, DC. (Photo by Greg Nash-Pool / Getty Images) Getty Images House Democrats today introduced a bill that would allow borrowers with disabilities to fully […]

April 7, 2021 / Private student loans

$ 2.6 million in private student loans to be forgiven following settlement: key details

Steve M. Lee / department education, federal student, loans private, private student, student debt, student loans /

PHILADELPHIA, PA – Pennsylvania Attorney General Josh Shapiro at an anti-hate rally in … [+] Independence Mall on March 2, 2017 in Philadelphia, Pennsylvania. (Photo by Jessica Kourkounis / Getty Images) Getty Images A settlement agreement with a private buyer of student loan debt following the collapse of a for-profit college chain will result in […]

March 31, 2021 / Private student loans

8 main advantages and disadvantages of private student loans

Steve M. Lee / federal loans, federal student, interest rates, loans private, private lenders, private loans, private student, student debt, student loans /

Note that the student loan situation has changed due to the impact of the coronavirus outbreak and the relief efforts of the government, student loan lenders and others. Check out our Student Loans Hero Coronavirus Information Center for news and additional details. * * * If you need a student loan for college, your first […]

March 15, 2021 / Private student loans

Will private student loans be canceled? 3 Ways Borrowers Can Manage Debt Now

Steve M. Lee / federal loans, federal student, interest rates, private lenders, private loans, private student, student debt, student loans /

Student loan cancellation can be considered, but not for a long time – and only for certain types of loans. (iStock) If you have federal student loans, your monthly payments are suspended until at least September 30 thanks to President Joe Biden who extended the loan payment suspension period shortly after taking office. And while […]

February 19, 2021 / Private student loans

Congressman Kildee’s Bill Would Offer Help With Private Student Loans

Steve M. Lee / federal student, private student, student debt, student loans /

WASHINGTON (WJRT) – Millions of college graduates don’t have to worry about paying off their federal student loans until next fall. The federal CARES law of 2020 provided for a six-month hiatus for accrued interest-free payments and President Joe Biden extended it until September 2021. But millions more graduates on private student loans outside the […]

February 5, 2021 / Private student loans

Can Biden cancel private student loans? 3 options

Steve M. Lee / department education, federal student, higher education, interest rates, loans private, private student, student debt, student loans /

WASHINGTON, DC – FEBRUARY 03: US President Joe Biden meets with Democratic Senators to discuss his … [+] $ 1.9 trillion U.S. bailout plan in the White House Oval Office February 3, 2021 in Washington, DC. In an effort to generate bipartisan support for his plan, Biden met with Republican senators a day earlier to […]

October 7, 2020 / Private student loans

Debtors Can Cancel Private Student Loans in Bankruptcy Soon at a Circuit Near You

Steve M. Lee / private loans, private student, student debt, student loans /

In what appears to be good news for those with student loan debt, the Tenth Circuit recently joined the Fifth Circuit in ruling that certain private student loans are dischargeable in bankruptcy. In McDaniel v. Navient Solutions, LLC, No. 18-1445 (10th Cir. Aug 31, 2020), the Tenth Circuit held that an educational loan does not […]

September 23, 2020 / Private student loans

Now Is The Best Time To Refinance Private Student Loans?

Steve M. Lee / federal loans, federal student, interest rates, loans private, private lenders, private student, student debt, student loans /

While the federal government originally offered suspended payments and no interest on federal student loans until the end of September, that deadline was recently extended to December 31, 2020. Following this historic pause on student loan payments and interest, it is now the worst time to refinance federal student loans with a private lender. After […]

September 4, 2020 / Private student loans

A New Bankruptcy Decision Could Affect Your Private Student Loans

Steve M. Lee / federal student, private student, student debt, student loans /

Picture: fizkes (Shutterstock) One of the biggest disadvantages of private student loans is that there is less protection for borrowers. Federal student loans, for example, offer more plans for repayment, deferral or forbearance, subsidized interest, and loan cancellation. Unfortunately, both types of student loans can be difficult to pay off in bankruptcy, due to the […]

July 20, 2020 / Private student loans

House passes bill to write off $ 10,000 in private student loans for every borrower

Steve M. Lee / private student, student debt, student loans /

Democratic Representative Madeleine Dean, December 12, 2019 (Photo by SAUL LOEB / AFP) (Photo by … [+] SAUL LOEB / AFP via Getty Images) AFP via Getty Images This article has been updated to reflect the fact that this law was passed by the House on July 21, 2020. Representative Madeleine Dean (D-PA) introduced legislation […]

July 14, 2020 / Private student loans

Private Student Loans: Know These Risks Before You Borrow

Steve M. Lee / federal loans, federal student, interest rates, loans private, private lenders, private loans, private student, student debt, student loans /

While the term “student loan” is often used to describe any type of graduate student debt, there are two distinct types of loans that have their fair share of differences: federal student loans and private student loans. Both carry some risk, but private loans lack many of the protections and benefits available with federal loans. […]

June 9, 2020 / Private student loans

Parents’ Guide to Applying for Private Student Loans

Steve M. Lee / department education, federal student, financial aid, financial assistance, interest rates, loans private, private lenders, private loans, private student, student debt, student loans /

Note that the student loan situation has changed due to the impact of the coronavirus outbreak and the relief efforts of the government and many lenders. Check out our Student Loans Hero Coronavirus Information Center for news and additional details. * * * If your child has exhausted their options for federal student loans, you […]

May 11, 2020 / Private student loans

Need help with private student loans? These states are helping during the pandemic

Steve M. Lee / federal loans, financial assistance, higher education, private lenders, private loans, private student, student debt, student loans /

Some states are stepping in to help private student loan borrowers, who have not been helped by the coronavirus relief act. Private lenders reached an agreement in late April with the governments of California, Colorado, Connecticut, Illinois, Massachusetts, New Jersey, Vermont, Virginia and Washington state. New York, the state hardest hit by the coronavirus, had […]

May 8, 2020 / Private student loans

Private student loans offer little protection when the going gets tough

Steve M. Lee / federal loans, federal student, higher education, interest rates, private loans, private student, student debt, student loans /

WASHINGTON, DC – As our higher education system is in turmoil, there is concern that more students will take on private loans and struggle to repay them. Private student debt is growing at a faster rate than federal student debt, according to an April report from the Student Borrower Protection Center. Since 2012, the volume […]

May 1, 2020 / Private student loans

The CARES Act Has Not Granted Any Relief To People With Private Student Loans

Steve M. Lee / federal student, financial assistance, loans private, private lenders, private loans, private student, student debt, student loans /

The private student loan market has been growing for a decade, and now, amid an economy nearly stranded by the coronavirus pandemic, borrowers find themselves with few back-up options. This is one of the lessons of a new report by the Student Borrower Protection Center, a non-profit organization started last year by Seth Frotman, former […]

March 6, 2020 / Private student loans

What is the Difference Between Federal and Private Student Loans

Steve M. Lee / federal loans, federal student, interest rates, loans private, private loans, private student, student debt, student loans /

Almost all young people who go to college face a harsh reality: their future careers are likely to start with debt. Tuition fees are insanely high in the United States, before you even factor in residence fees and textbooks. Millions of young Americans take out student loans each year, which has led to a debt […]

February 5, 2020 / Student financial aid

Board of Directors hears annual report on student financial assistance

Steve M. Lee / financial aid, financial assistance, student debt, student financial /

At a meeting of the State Council of Regents in Urbandale on Wednesday, the directors of financial aid for the public universities of the three regents presented their annual report on financial aid. URBANDALE – Financial aid officials from the institutions of the State Council of Regents discussed the accessibility and affordability of universities for […]

January 22, 2020 / Student financial aid

WGU Innovation Lab Partners with Leader in Emergency Student Financial Aid

Steve M. Lee / financial aid, student debt /

“WGU Labs provides education technology companies with research and development services that drive organizational growth,” said Todd bloom, Managing Director of WGU Labs. “And we are focusing our support on companies that have demonstrated, at an early stage, their commitment to social impact and scalability. Edquity illustrates these attributes. Edquity’s core product supports students who […]

October 9, 2019 / Student financial aid

Is Davidson’s Debt Free? A look at the experiences of student financial aid

Steve M. Lee / department education, federal loans, federal student, financial aid, student aid, student debt, student financial, student loans /

Kaizad Irani ’22 Editor-in-chief Illustration by Richard Ferrell ’22 Davidson College tuition has increased 3% this school year to almost $ 53,000, costing almost 50% more than the average private college tuition fee in the United States. Despite Davidson’s high cost of attendance, the college sets itself apart from other private institutions with a financial […]

June 11, 2019 / Private student loans

PHEAA Offers Low Cost No Fee Private Student Loans

Steve M. Lee / financial aid, financial assistance, higher education, interest rates, private lenders, private loans, private student, student debt, student loans /

The Pennsylvania Higher Education Assistance Agency is reinventing itself as a private lender to fill the gap for students who have peaked in federal grants and loans this year, but still cannot meet the cost of colleges or approved business schools. Officials at PHEAA, the struggling agency that administers the state’s student scholarship program and […]

March 21, 2018 / Student financial aid

Pennsylvania Student Financial Aid Agency is outsourcing 270 positions, and snowy days are one reason

Steve M. Lee / federal student, financial aid, higher education, student debt /

It’s days like today, when snow blanketed Pennsylvania, causing many state offices to close, which is one of the reasons the state financial aid agency under -treats 270 of its entry-level call center positions. The Pennsylvania Higher Education Assistance Agency has contracted with New Jersey-based Wipro LLC and its Illinois-based subsidiary Opus Capital Markets Consultants […]

July 30, 2017 / Private student loans

Will Your Private Student Loans Soon Be Wiped Out? Don’t bet on it

Steve M. Lee / federal student, financial aid, private loans, private student, student debt, student loans /

College graduates need to stop and take a deep breath if they expect to see their overdue student loan debt go away soon after an investigation into alleged precarious debt collection practices is announced. The headlines surround the possibility of wiping out up to $ 5 billion in already overdue debt. The controversy centers on […]

July 18, 2017 / Private student loans

Secondary Market Private Student Loan Default Down: NPR Ed: NPR

Steve M. Lee / federal loans, federal student, interest rates, private lenders, private loans, private student, student debt, student loans /

Five billion dollars in private student loans could be canceled due to poor record keeping by financial companies, survey finds The New York Times found this week. Loan balances are wiped out and lawsuits are overturned because loans have been consolidated and resold, like the subprime mortgages that precipitated the Great Recession, and the current […]

July 22, 2016 / Private student loans

Amazon-Wells Fargo private student loan partnership troubles consumer advocates

Steve M. Lee / federal loans, federal student, interest rates, private loans, private student, student debt, student loans /

Search “student loans” on Amazon.com and results include titles such as The student loan scam and The Student Loan Mess: How Good Intentions Created a Trillion Dollar Problem. Today, the online retail giant is getting involved in the student loan business itself through a partnership with Wells Fargo. On Thursday, Amazon and the banking and […]

July 22, 2015 / Private student loans

Private student loans: everything you need to know

Steve M. Lee / federal loans, federal student, interest rates, loans private, private lenders, private loans, private student, student aid, student debt, student loans /

Borrowing money is always a risky proposition, as you are betting that you can pay off both the interest on the loan and the principal, the amount you borrowed in the first place. When buying a house or a car, it is nearly impossible for most Americans to write a check for the full amount. […]

November 12, 2014 / Student financial aid

UGA Dean’s Finalist Makes Student Financial Aid Priority | Campus News

Steve M. Lee / student debt /

Lonnie T. Brown Jr., the third finalist for the post of Dean of the University of Georgia Law School, made his final presentation Wednesday at Dean Rusk Hall. Brown is a distinguished A. Gus Cleveland President of Legal Ethics and Professionalism and Associate Dean for Academic Affairs at the UGA School of Law, and the […]

December 26, 2013 / Student financial aid

NYU President Focuses on Fundraising for Student Financial Aid

Steve M. Lee / financial aid, student debt /

As New York University President John Sexton enters the final two years of his term, he will consider issues such as student debt, the value of an education at NYU and who will be its successor, he said in a recent interview. The library building on the campus of NYU Polytechnic School of Engineering in […]

June 24, 2013 / Private student loans

Why does the government support expensive private student loans? –Mother Jones

Steve M. Lee / federal student, interest rates, loans private, private student, student debt, student loans /

Open Secrets Fight misinformation. Get a daily recap of important facts. Register for free Mother Jones newsletter. On Monday, Sen. Elizabeth Warren (D-Mass.), demanded that Ed DeMarco, the head of the Federal Housing Finance Agency (FHFA), justify why his government agency supports private interest-rate student loans very high which are drowning many Americans in debt. […]

July 23, 2012 / Private student loans

Private student loans at risk: is bankruptcy the solution?

Steve M. Lee / department education, federal loans, federal student, interest rates, private lenders, private loans, private student, student debt, student loans /

Getty Images Although private loans make up only a small portion of the roughly $1 trillion student debt stock, a new report from the Consumer Financial Protection Bureau in conjunction with the Department of Education shows that these loans have the ability to harm borrowers’ credit and financial future. safety at a disproportionately high rate. […]

July 19, 2012 / Private student loans

Private student loan boom mirrors mortgage frenzy, report says

Steve M. Lee / department education, federal loans, federal student, financial aid, interest rates, private lenders, private loans, private student, student aid, student debt, student loans /

The same kind of lending frenzy that created the subprime mortgage crisis has also fueled a dangerous boom in private student loans, according to a report released Friday by the Consumer Financial Protection Bureau and the US Department of Education. The surge in private student loans, which now account for about $150 billion of the […]

August 27, 2009 / Private student loans

More college graduates are banking on their future with private student loans

Steve M. Lee / department education, federal loans, higher education, interest rates, loans private, private loans, private student, student debt, student loans /

(CNN) — Kristin Schlaud was brimming with pride when she became the first in her blue-collar family to go to college. But three years after law school, she’s completely broke, saddled with nearly a quarter of a million dollars in debt. More and more university graduates are in debt after taking out private student loans […]