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Should You Plan for $50,000 In Student Loans Forgiveness?

Last week, President Biden asked the Department of Education to review his legal authority in using executive action to forgive student loan debt, which has renewed hope for many of the 45 million borrowers that collectively owe $1.7 trillion in student loans. But how should this affect your repayment strategy, and…Read more...
Tags: Politics, Money, Finance, Debt, Economy, Credit, Loans, Lifehacks, Biden, Debt relief, Student Debt, Department Of Education, Student Loan, Ron Klain, Business Finance, Zack Friedman


White House press secretary says Biden hasn't 'ruled out' canceling up to $50,000 in student debt

White House Press Secretary Jen Psaki. SAUL LOEB/AFP via Getty Images White House Press Secretary Jen Psaki addressed the president's stance on canceling student debt. In her Monday briefing, Psaki said the White House is open to cancelling up to $50,000 per person. However, she did not offer many specifics beyond that, including whether Biden supports it. See more stories on Insider's business page. White House Press Secretary Jen Psaki left the door open on Monday to a potential ...
Tags: Politics, Congress, White House, Trends, Joe Biden, Cnn, Biden, Student Debt, Department of Education and Department of Justice, White House Press, Jen Psaki, Ron Klain, Psaki, Jake Lahut, Getty Images White House Press, Jen Psaki SAUL LOEB


Debt drives students to despair

Thousands of students, who owe billions of rands in outstanding fees to universities, can’t get their qualification certificates and so can’t get jobs The post Debt drives students to despair appeared first on The Mail & Guardian.
Tags: Education, Student Debt, Certificate, Blade Nzimande, Cape Peninsula University of Technology, University of Johannesburg, Top Six, Qualification, Tshwane University Of Technology, Coronavirus, South Africa (country, COVID-19, Central University Of Technology, Universities South Africa, National Student Financial Aid Scheme, Professor Ahmed Bawa


Skyrocketing Student Loans Threaten to Suffocate Lending’s Future

Drowning in student debt, consumer inability or unwillingness to borrow more may cripple the lending market. Experts say it will grow worse. The post Skyrocketing Student Loans Threaten to Suffocate Lending’s Future appeared first on The Financial Brand.
Tags: Finance, Customer Experience, Millennials, Student Debt, TD Bank, Gen Z, Strategic Planning, Featured Content, Lending Strategies


You Now Qualify for Full Student Loan Forgiveness If You Were Misled

The Department of Education announced that they will forgive approximately $1 billion in student loan debt for borrowers who have been misled or scammed. The move loosens Trump-era loan restrictions for this type of claim, and includes full forgiveness for previously approved claims that received less than a full loan…Read more...
Tags: Money, Education, Yahoo, Finance, Debt, Economy, Loans, Lifehacks, Student Debt, Department Of Education, Trump, Student Loan, Public Service Loan Forgiveness, Business Finance, Pay As You Earn, Miguel Cardona


You Now Qualify for Student Loan Forgiveness If You Were Misled

The Department of Education announced that they will forgive approximately $1 billion in student loan debt for borrowers who have been misled or scammed. The move loosens Trump-era loan restrictions for this type of claim, and includes full forgiveness for previously approved claims that received less than a full loan…Read more...
Tags: Money, Education, Yahoo, Finance, Debt, Economy, Loans, Lifehacks, Debt relief, Student Debt, Department Of Education, Trump, Student Loan, Public Service Loan Forgiveness, Business Finance, Pay As You Earn


Only 32 student loan borrowers - ever - have qualified for full forgiveness through an income-driven repayment plan

"Our student loan system is broken," Sen. Elizabeth Warren, who supports student loan forgiveness, wrote in a tweet. "Income-based repayment is supposed to offer relief - but only 32 people's loans have been forgiven by the program. Not 32,000. Just 32." Drew Angerer/Getty Images The first federal income-driven repayment plan was created in 1995 and has since enrolled millions of student loan borrowers in the programs. But only 32 people have ever qualified for full student debt forg...
Tags: Politics, Massachusetts, Elizabeth Warren, Trends, House, New Jersey, Warren, Student Loan Debt, Biden, Student Debt, Student Loan, Sen Elizabeth Warren, Sen Bob Menendez, NCLC, IDR, National Consumer Law Center


Why You Shouldn't Make Monthly Payments on Your Paused Student Loan (Even If You Can)

If you live with student loans, you’ve likely been paying close attention to our government’s ongoing debates about enacting public student loan forgiveness—to the tune of $50,000, $10,000, or none at all. The context is familiar: the average American student loan debt hovers around $30,000, and was a repayment crisis…Read more...
Tags: Money, Finance, Debt, Economy, Loans, Lifehacks, Debt relief, Student Debt, Interest, Student Loan, Public Service Loan Forgiveness, Business Finance, Student Loans In The United States, Repayment Plan


Attorneys General Press Congress On Student Debt Cancellation, Citing ‘Defrauded Students’

Attorneys general from 17 states addressed a letter to congressional leadership on Friday boosting a call for President Joe Biden to immediately cancel up to $50,000 in federal student load debt for borrowers as part of pandemic relief. [Author: Zoe Richards]
Tags: News, Joe Biden, Student Loans, Student Debt, Zoë Richards


A Dallas-based founder looks to tackle the student loan crisis with his startup, College Cash

Demetrius Curry has spent the last couple years chasing a dream. His startup, College Cash, allows brands to petition users to create photo and video marketing content highlighting their product or service, with the wrinkle being that content creators are paid by the brands in the form of credits that go directly toward paying down their student loan debt. This model awards the brands involved a level of social good will and tax benefits. The Dallas-area founder was inspired to tackle the studen...
Tags: Startups, TC, Business, Entrepreneurship, Finance, Tech, Diversity, Economy, Venture Capital, Dallas, Private Equity, Silicon Valley, Curry, Content Creators, Startup Company, Student Debt


Biden supports canceling $10,000 in student loan debt, but Democrats are calling on him to forgive $50,000 through executive action

Sen. Elizabeth Warren, D-Mass., left, and Senate Majority Leader Chuck Schumer, D-N.Y. Caroline Brehman/CQ-Roll Call, Inc via Getty Images President Joe Biden supports canceling $10,000 in student loan debt per borrower. Press Secretary Jen Psaki said he wants Congress to pass a bill and send it to his desk. Congressional Democrats are urging Biden to forgive $50,000 per borrower through executive action. Visit the Business section of Insider for more stories. President Joe Biden supports ...
Tags: Politics, New York, News, Congress, Senate, White House, Massachusetts, Elizabeth Warren, Trends, Joe Biden, United States, Warren, Student Loans, Loans, Biden, North Carolina


Expected family contributions for college loans might be going away, thanks to COVID-19

Nestled somewhere in the 5000-page COVID relief bill signed earlier this month, there was also a significant change to the Free Application for Federal Student Aid (FAFSA) form: the deceptively-named Expected Family Contribution is being replaced by a "Student Aid Index." — Read the rest
Tags: Post, News, Debt, Higher Education, Student Loans, Colleges, Student Debt, Fafsa, Debt Traps, Debt Crisis, Free Application for Federal Student Aid FAFSA, Student Loan Crisis


3 steps a millennial couple took to pay off $118,000 of student-loan debt in just one year

Karen Akpan owed over $69,000 in student-loan debt, while her husband owed $40,000. Karen Akpan Millennial couple Karen and Sylvester Akpan paid off $118,000 of student-loan debt in one year. Akpan told Insider she was inspired by Dave Ramsey's "gazelle intensity" method. They took 3 steps: selling their house to buy an RV, creating a budget, and increasing their income. Visit Business Insider's homepage for more stories. For Karen Akpan, 2020 ended on a high note. She and her husband, Syl...
Tags: Personal Finance, College, Savings, US, Trends, Wealth, Debt, Karen, Student Loans, Student Debt, Sylvester, Ramsey, Trotter, Dave Ramsey, Arts & Culture, Hillary Hoffower


A Biden economic appointee explains how a 'true new deal' plan uses 9 reforms to rebuild wealth for all Americans

Bharat Ramamurti is a member of the COVID-19 Congressional Oversight Commission. Sarah Silbiger/Washington Post via AP pool Paul Constant is a writer at Civic Ventures, a cofounder of the Seattle Review of Books, and a frequent cohost of the "Pitchfork Economics" podcast with Nick Hanauer and David Goldstein. In this week's episode, Hanauer spoke with Bharat Ramamurti, deputy director of the incoming Biden administration's National Economic Council who recently coauthored 'A True New Deal'...
Tags: Politics, Opinion, Finance, Elizabeth Warren, America, Trends, Ap, Washington Dc, Biden, Fdr, Student Debt, Nordic, New Deal, Roosevelt, Roosevelt Institute, National Economic Council


Why You Shouldn't Bank on Student Loan Forgiveness

Once he assumes office, President-elect Joe Biden is expected to ask Congress to immediately cancel $10,000 in student debt for all borrowers and extend the payment moratorium on federally backed student loans that’s scheduled to lapse this month. But will debt forgiveness pass the Senate? It’s possible—but there’s no…Read more...
Tags: Congress, Senate, Joe Biden, Bank, Student Loans, Lifehacks, Student Debt, Pandemic Life


How to Plan for the End of Student Loan Forbearance

The good news is the federal student loan payment freeze has been extended through Feb. 1, which gives borrowers some additional breathing room. However, since additional student debt relief beyond that remains uncertain, you should start planning to making those payments again beginning in February.Read more...
Tags: Taxes, Student Loans, Lifehacks, Student Debt, CARES Act, Pandemic Life


How to Be Happy for Other People

With the United States’ total student debt bill on a perpetual climb every year, and now totaling a staggering $1.5 trillion, leaders in the Democratic party are reportedly toying with an idea that could offer borrowers at least a partial respite from the sometimes ruinous burden of student debt.Read more...
Tags: United States, Lifehacks, Student Debt, Democratic Party


Can You Pay Your Student Loans With a Credit Card?

The pandemic has people exploring debt payment options they haven’t considered before—like paying off their student loans with a credit card. Is it possible? Yes, but it’s generally not a good idea.Read more...
Tags: Credit Cards, Student Loans, Student Loan Debt, Lifehacks, Credit Score, Credit Card Debt, Student Debt, Credit Card Rewards


Meet Robert F. Smith, the billionaire who paid off an entire class' student loans and reportedly will now pay $140 million to settle a four-year investigation into his taxes

Smith gave the commencement address at Morehouse College in Atlanta, Georgia on May 19, 2019. Marcus Ingram/Getty Images Robert F. Smith is a billionaire tech investor and philanthropist who founded and serves as CEO of Vista Equity Partners. Smith was the target of a four-year investigation into his personal taxes that ended when the billionaire agreed to pay $140 million in back taxes, penalties, and interest. Smith made headlines in May 2019 when he announced during his commencement add...
Tags: Washington Post, Finance, New York City, US, America, San Francisco, Trends, Georgia, Investing, Bloomberg, Features, Mit, Vista, United States, Chelsea, Washington Dc


What Happens to Your Debt if Your College Closes for Good?

The pandemic has created worldwide economic challenges, and colleges and universities are feeling the strain. While only a few schools have permanently shuttered, experts say there could be more in the future. If this happens while you’re enrolled, you may have two options: transfer credits, or apply for discharge.…Read more...
Tags: Personal Finance, College, Student Loans, Lifehacks, Student Debt


A New Bankruptcy Ruling Could Impact Your Private Student Loans

One of the biggest downsides of private student loans is there are fewer borrower protections. Federal student loans, for example, offer more repayment plans, deferment or forbearance, subsidized interest, and loan forgiveness. Read more...
Tags: Bankruptcy, Student Loans, Lifehacks, Student Debt


A Little LeverEdge Can Save You Thousands On Your Student Loans [Sponsored]

How a Northwestern Law student uses collective bargaining to help everyone get a better deal.
Tags: Law, Student Loans, Student Loan Debt, Law Schools, Student Debt, Sponsored Content, Law Students, LeverEdge


Morning Docket: 08.05.20

* A Chicago lawyer featured on the Netflix show Indian Matchmaking is facing a tough adjustment after experiencing the fame of being on the show. This series keeps showing up on my queue... [Chicago Sun Times] * The Los Angeles District Attorney's husband will face charges for waiving a gun at protesters near his home. [Hill] * A new lawsuit is demanding that White House briefings have sign language interpreters. [New York Times] * The American Bar Association has voted on a set of best pra...
Tags: Law, White House, China, Los Angeles, Chicago, Netflix, New York Times, Student Loans, American Bar Association, Aba, Student Debt, Chicago Sun Times, Morning Docket, Tiktok, Indian Matchmaking, Los Angeles District Attorney's Office


Young people need a bailout: Cancel student debt held by national banks

A more equitable and fair society, able to conquer the effects of pandemics, starts with debt-free education and skills development The post Young people need a bailout: Cancel student debt held by national banks appeared first on The Mail & Guardian.
Tags: Education, Jacob Zuma, Student Loans, Student Debt, Openaccess, Cyril Ramaphosa, FeesMustFall, South Africa (country, South African Economy, Higher Education South Africa, Black Tax


Choose a Student Loan Repayment Plan With This Calculator

IBR, PAYE, REPAYE—if the options for repaying your student loans look like alphabet soup, there’s a new calculator that seeks to simplify the decision-making process.Read more...
Tags: Calculators, Student Loan Debt, Lifehacks, Student Debt, IBR


Frank raises $5M more in its quest to get students max financial aid

Frank, a New York-based student-facing startup, has raised $5 million in what the company described as an “interim strategic round” led by Chegg, a public edtech company. According to Frank founder and CEO Charlie Javice, previous investors Aleph and Marc Rowan took part in the round alongside new investor GingerBread Capital. The education funding-focused startup last raised known capital in December of 2017, when it closed a $10 million Series A. Frank raised a seed round earlier that same yea...
Tags: Fundings & Exits, Startups, TC, New York, Money, Entrepreneurship, Finance, Tech, Economy, Private Equity, WeWork, Shippo, Chegg, Student Debt, Zoom, Frank


What is iFunding? Here’s how it works

This emerging consumer financing category is addressing the financial realities of today's prospective homebuyers.
Tags: Technology, Mortgages, Radio, Mortgage, Financing, Student Debt, Realtor.com, Mortgage Industry, Down Payment, Divvy Homes, Adena Hefets, Banking & Lending, Property Portfolio, Residential Finance Month, Iclosing, Ifunder


Mortgage originations hit highest level since 2005: New York Fed

Decreasing mortgage rates contributed to the highest volume in mortgage originations in 14 years at a total of $752 billion, according to the Federal Reserve Bank of New York.
Tags: Data, Analysis, Radio, Mortgage, Credit Card Debt, Student Debt, New York Fed, New York Federal Reserve, Select, Home Mortgage, Mortgage Originations, Homeowner Debt, Theme Months, Residential Finance Month, Theme-month-202002, Mortgage Debt


Bankruptcy Judge Discharges Law School Loans — Brief Moment Of Sanity Before Appeal

Common sense finally -- and probably temporarily -- prevails.
Tags: Law, Bankruptcy, Law Schools, Student Debt, Benjamin N. Cardozo School of Law, Cecelia Morris