Blog.
Largest Aid Package in History Includes Student Loan Relief and Employer Contribution Benefits
Today, President Trump signed a historic $2 trillion stimulus bill into law that was passed by unanimous consent in the House hours earlier. This relief package allows federal student loan borrowers to suspend payments for six months until September 30, 2020....
Should I Refinance During the Student Loan Interest Waiver?
The U.S. Department of Education’s suspension of student loan interest doesn’t necessarily translate into an opportunity to refinance your federal student loans, but it may be an opportunity to secure a lower interest rate for your private loans. Keep in mind that...
More Student Loan Relief in the $2T Stimulus Bill
On Wednesday, the Senate unanimously passed a $2 trillion stimulus bill to assist Americans affected by the COVID-19 outbreak. Interest Waiver Extended to Six Months The government extended the interest waiver from two months to six months. While this waiver will...
How does the coronavirus affect my delinquent/defaulted student loans?
Any borrower who is more than 31 days delinquent as of March 13, 2020, will have an automatic suspension of payments for the duration of the declared emergency. Betsy DeVos, U.S. Education Secretary, announced today that the Education Department has stopped all...
Guidance on Federal Work-Study (FWS) During School Closures
If you’re a college student at an institution that has closed due to COVID-19 disruptions and you’re unable to work your scheduled Federal Work Study (FWS) hours, your institution may continue paying you wages during a closure. Federal law includes a provision...
What to do with Zero Percent Interest Rates
The Department of Education announced that all federally held student loans will have a 0% interest rate for a minimum of 60 days starting from March 13th, 2020. The good news is that it should automatically apply to your loans by the end of the week! However, to be...
Details Released from Dept. of Education on Federal Student Loan Interest Waiver
Today U.S. Secretary of Education Betsy DeVos announced how the office of Federal Student Aid is executing on providing relief during the COVID-19 national emergency. As promised, here is a summary of the announcement. All borrowers with federally held student loans...
Optimize Repayment during Interest Waiver Period
Paying off your student loan debt faster just became easier following the federal interest waiver announcement last Friday. While your student loan payment remains the same, your entire payment may go directly towards your principal balance. Now is the time to...
Has COVID-19 impacted you financially?
If you’ve had your income reduced or eliminated due to COVID-19 and you’re repaying student loan debt, you may have trouble paying your essential bills. Even with a student loan interest waiver, your monthly payment will not be affected. Need immediate relief with...
Will Federal Student Debt Be Cancelled?
In the 10 years since the Department of Education has been running the Direct Loan program, the national student loan debt has doubled. The huge student loan balances carried by college graduates (and dropouts) have been blamed on delaying economic generators such as...