Blog.
Federal Student Loan Payments, Collections, and Interest Now on Hold until Dec. 31 2020
On August 8th, President Trump released an executive memorandum extending the student loan payment relief outlined in the CARES Act until Dec 31, 2020. Last week, U.S. Secretary of Education Betsy Devos directed Federal Student Aid (FSA) to implement the president’s...
Are you in the right repayment plan?
Millions of Americans are unemployed right now. Federal direct student loans are in a temporary forbearance due to the CARES Act, but that will end in September. Now is the time to review your current financial situation and determine whether or not you’re in the...
Nelnet and Great Lakes will no longer service federal student loans!
If you have Nelnet or Great Lakes for your federal student loan servicer, you will soon be receiving a new servicer. Nelnet and Great Lakes, which collectively manage federal student loans for approximately 13 million student loan borrowers, will no longer service...
What Happens October 1st with the CARES Act and My Student Loans?
Over 5.2 million student loan borrowers are in default. The CARES Act has several provisions to help struggling borrowers. Defaulted borrowers have a reprieve from wage garnishment and tax offsets until October 1st 2020. What happens October 1st? Wage garnishment and...
Whether or not to make payments during the CARES Act forbearance on direct federal loans
The CARES Act, signed into law on March 27, 2020, includes a broad range of provisions designed to help Americans whose everyday lives were dramatically altered by the COVID-19 pandemic. Among other measures, the Act provides relief for federal student loan borrowers,...
Is now the time to go back to school?
As millions of Americans find themselves unemployed, many are asking if now is the time to go back to school to pursue the career they have always wanted. If you’re contemplating pursuing a degree, ask yourself these questions first. Will this degree or certificate...
Beware of Recent Student Loan Scams
Warnings have been released by the Federal Trade Commission (FTC) and The Better Business Bureau (BBB) about student loan scams targeting students. COVID-19 Relief Fund Phishing Emails The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed with...
5 tips for job hunting during COVID-19
The COVID-19 pandemic has caused one of the worst workforce crises in history. An estimated 20.5 million jobs have been erased, and unemployment has skyrocketed to levels not seen in three generations. If you count yourself among these statistics, you may be...
5 tips to stay on track with e-learning
Adjusting to e-learning can be difficult. Getting into the mindset of studying requires changes to your environment and modifying your study habits. Here are some tips on how to figure out the new norm, while staying successful. Create your own workspace: Make a...
Student Loan Interest Rates Expected to Drop
Federal Student Aid announced last Friday that student loan interest rates will be dropping for new Direct Loans disbursed for the 2020-2021 school year. Interest rates are determined annually and set for a 12-month period. Rates are determined by a formula tied to...