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...
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...
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...
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...
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...
According to a recent report by Moody’s Investor Services, approximately half of student loan repayers who began repayment in 2010-12 have not reduced their debt balance. Even borrowers in income-driven repayment have seen their student loan balances grow regardless...
