Over 1 Million Student Loan Defaults in Last 12 Months

Over 1 Million Student Loan Defaults in Last 12 Months

According to the Federal Student Aid (FSA) center, 24% of all Direct Loan borrowers were delinquent or in default at the end of 2018. Since June 2018, over 1 million Direct Loan borrowers have entered default. Defaulting on a federal student loan occurs when the...
New Repayment Program Available for Health Care Workers

New Repayment Program Available for Health Care Workers

Health care professionals who treat drug addiction in shortage areas or in counties where the drug overdose rate is above average may qualify for repayment assistance from the Federal government. The Department of Health and Human Services (HHS) and is overseeing the...
CBO Recommends Ending Subsidized Loans, Loan Forgiveness

CBO Recommends Ending Subsidized Loans, Loan Forgiveness

A recent report, Options for Reducing the Deficit: 2019 to 2028, released by the Congressional Budget Office (CBO) recommends cuts to the federal student loan program in order to balance the federal budget. The CBO’s recommended options below could potentially...
8 Reasons Employees Default on Their Student Loans

8 Reasons Employees Default on Their Student Loans

Even full-time employees default on their student loan payments. It’s expected that 2 out of 5 student loan borrowers will be under default in the next five years. According to a recent report by Brookings, income alone cannot predict who will default on their...
Will Student Debt Cause an Economic Recession?

Will Student Debt Cause an Economic Recession?

History of Economic Recessions The economic recessions of the 20th century are attributed to wars, oil/energy, and inflation. It has been about a decade since the last recession, and, historically, the time between recessions are less than 10 years. Many financial...
Retirement Benefit Linked to Student Loans

Retirement Benefit Linked to Student Loans

Millennials Struggle to Save for Retirement In our recent financial survey, we found that 48% of respondents under the age of 40 have less than $5,000 saved for retirement, and 19% have no savings at all. At their current rate, they are unlikely to be able to retire...