The U.S. Department of Education is canceling student debt for another 160,000 borrowers. This latest cancellation, announced by the White House Wednesday (May 22), brings the total number of Americans who have received student debt relief from President Joe Biden’s administration to 4.75 million. “Each...
The Consumer Financial Protection Bureau (CFPB) has filed a complaint against the National Collegiate Student Loan Trusts and Pennsylvania Higher Education Assistance Agency (PHEAA), alleging that they ignored student loan borrowers seeking payment relief. If entered by the court, the CFPB’s proposed stipulated final judgments would require the National Collegiate Student...
The White House has forgiven $6.1 billion in loans for Art Institutes graduates. That’s because, the Department of Education said in a news release Wednesday (May 1), those graduates were lied to by the now defunct chain of for-profit arts schools, the subject of years of investigation and litigation...
The White House has unveiled its latest effort to offer relief to student loan borrowers. The plan, President Joe Biden announced Monday (April 8), targets borrowers who owe more now than when they started repayments due to interest, those who entered repayment 20 or more years ago,...
September 27, 2023
It’s the end of September, summer’s a distant memory, and students are only a few weeks into settling into the routine of books, homework, and given the way things are going … … paying for it all. You’d be forgiven for thinking the conversation around what we might term “education affordability” has been confined to […]
September 18, 2023
Just a few weeks from now, federal student loan payments resume, ending a moratorium that had been in place since the onset of the pandemic in March of 2020. And...
August 31, 2023
In the wake of the Supreme Court’s decision to block the federal student loan forgiveness plan, many of Generation Z’s recent college graduates will make their first student loan repayment...
August 16, 2023
The retailer’s strategy of appealing to millennials may be backfiring as the generation prepares to lose spending power to student loan repayments. Once again, consumer sentiments’ seeming ability to motivate...
May 31, 2024
The Consumer Financial Protection Bureau (CFPB) has sued student loan servicer Pennsylvania Higher Education Assistance Agency (PHEAA), alleging that it collects on loans that borrowers do not owe. Specifically, the agency alleges in its complaint that PHEAA, which does business as American Education Services (AES), illegally collects on student loans that have been discharged and […]
May 22, 2024
The U.S. Department of Education is canceling student debt for another 160,000 borrowers. This latest cancellation, announced by the White House Wednesday (May 22), brings the total number of Americans...
May 06, 2024
The Consumer Financial Protection Bureau (CFPB) has filed a complaint against the National Collegiate Student Loan Trusts and Pennsylvania Higher Education Assistance Agency (PHEAA), alleging that they ignored student loan borrowers seeking payment relief....
May 01, 2024
The White House has forgiven $6.1 billion in loans for Art Institutes graduates. That’s because, the Department of Education said in a news release Wednesday (May 1), those graduates were lied to by the...
