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),...
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 burden of student loan debt continues to weigh heavily on millions of Americans, as evidenced by the significant number of borrowers who have not resumed making payments after the pandemic-induced pause. Following a three-year pause, payments on federal student debt officially resumed in October,...
Student finance FinTech Earnest and debt guidance firm Payitoff have teamed to help borrowers lower student loan payments. The two companies on Monday (Oct. 26) announced the launch of their student loan management, a free tool that offers personalized repayment plan recommendations to reduce monthly payments. “The expiration of the...
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 in October. While millennials and Generation X still shoulder the brunt of the current $1.6 trillion student loan balance, younger Gen Zers will soon surpass […]
August 01, 2019
Call it the $1.6 trillion challenge. College is a rite of passage for some, a dream for others and a financial challenge for just about everyone who strives for a...
August 25, 2017
There isn’t much that can be said about the “average” American credit user in 2017 because, as it turns out, there really isn’t one. According to market research provider Gallup’s...
March 28, 2017
Defaulting on student debt has never been a good idea. The collection process is intense and one’s credit rating will be utterly ravaged for a very long time. And if...
July 22, 2024
The Federal Trade Commission (FTC) said Monday (July 22) that a federal court halted the operations and froze the assets of the operators of USA Student Debt Relief (USASDR). The FTC asked the court to issue the order, alleging that the operators pretended to be affiliated with the Department of Education and its loan servicers and made false promises […]
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...
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...
December 18, 2023
The burden of student loan debt continues to weigh heavily on millions of Americans, as evidenced by the significant number of borrowers who have not resumed making payments after the...
