Blog.
Shorter Time to Forgiveness for SAVE Plan
The Biden-Harris Administration announced it will grant forgiveness to borrowers on the Saving on a Valuable Education (SAVE) Plan beginning in February. Borrowers who originally took out $12,000 or less for college and make ten years of payments will have their debts...
Student Loan Repayment Problems Continue for Borrowers
The three-year, COVID-era student loan payment pause officially ended in September. The first payments were due in October. Since then, borrowers have faced long hold times to connect to representatives at their federal student loan servicer, payment processing...
Student Loan Borrowers Seeing Long Wait Times and Billing Errors
Student Loan Statements Mailed Out Late October was the first month in three years that federal student loan payments were due. However, millions of student loan borrowers are expected to miss their first payment following delayed mailing of student loan statements....
Gainful Employment Regulations Under Final Review
The U.S. Department of Education’s proposed rules for gainful employment rules and other accountability initiatives are currently awaiting final approval. The OMB’s Office of Information and Regulatory Affairs is expected to approve the request on or before November...
The New SAVE Plan for Student Loan Repayment
The Saving on a Valuable Education (SAVE) Plan replaces the existing Revised Pay As You Earn (REPAYE) Plan. The SAVE plan is an income-driven repayment option. Borrowers earning less than $15 an hour may have loan payments as low as $0 per month. Borrowers...
SCOTUS Decision on Student Debt Relief
SCOTUS Blocks Biden’s One-Time Student Loan Cancellation Program The U.S. Supreme Court has rejected the Biden administration’s proposal to cancel student loan debt. The court ruled today on two cases: Biden v. Nebraska and The Department of Education v. Brown. In a...
Student Loan Repayment Will Resume in September
The Senate passed legislation late Thursday to raise the debt ceiling, avoiding a government shutdown. A provision in the bill officially terminates the student loan repayment suspension period. Student loan repayment will resume sixty (60) days after June 30, 2023....
Department of Ed Testifies to House Subcommittee
Department of Education Testifies to House Subcommittee and Secretary James Kvaal and Federal Student Aid COO Richard Cordray certainly represented the Department of Education (ED) during the second House Higher Education and Workforce Development Subcommittee hearing...
Student Loan Default Guardrails that Colleges Can Implement Now
The student loan repayment pause will end this year. Repayment is likely to resume in September or October. The Supreme Court will make its decision on the Biden Administration's one-time student loan forgiveness program next month. Student loan repayment will resume...
Higher Education Enrollment Cliff Demands Change
Colleges can combat shrinking enrollments by updating their program offerings, investing in admissions departments, and focusing on re-enrollments.