There are just a few days left for anyone who want to weigh in on President Biden’s proposed changes to income-driven repayment for student loans. Millions of borrowers would get a reduction in their monthly payments according to administration proposals, while others would have their student debt forgiveness programmes accelerated. What debtors should know is…
Some Republicans in the Senate have petitioned the Supreme Court to invalidate President Joe Biden’s plan to cancel student loans. On Tuesday, a group of 43 senators headed by Senator Marsha Blackburn of Tennessee filed an advising “amicus brief” with the court, contending that the administration has the jurisdiction to erase student loan debt. 1…
The latest proposed regulation on student loans by the Biden administration exemplifies the government’s inverse Midas Touch. President Joe Biden is attempting another back-door strategy to have you pay off someone else’s debt as the administration’s campaign for student loan debt amnesty is bogged down in the courts. How? The federal government’s already generous “income-driven…
Last Monday, the White House said that from May 11, it will no longer consider COVID-19 a national emergency. The federal government’s policy on a wide range of topics, such as free at-home testing, temporary Medicaid coverage, and immigration, would be jeopardised if the emergency declarations were allowed to lapse. Vice President Biden expects his…
The Biden administration has set its eyes on a different method of providing debt relief as its proposal to eliminate federal student loan debt for millions of students remains stuck in the courts. This plan is designed to streamline the process through which borrowers may have their student loan debt forgiven if they discover that…
Paying off student loans while in college can be a good idea for some students, but it’s important to consider all the factors involved before making this decision. One of the main benefits of paying off student loans while in college is that it can help students to reduce their overall debt burden after graduation….
Scholarships to pay student loans are a form of financial aid that can help borrowers pay off their debt. These scholarships are typically awarded based on various factors, such as financial need, academic merit, and community service. One of the most common types of scholarships to pay student loans is merit-based. These scholarships are awarded…
Student loans typically appear on a credit report shortly after being disbursed to the borrower. Disbursement is the process by which the loan funds are sent to the borrower or the school, and it usually happens after the loan application has been approved and the promissory loan note has been signed. The specific timing of…
There are several options for borrowers to have their student loans forgiven, each with its specific requirements and qualifications: Public Service Loan Forgiveness (PSLF): This program is available to borrowers who work for a government or non-profit organization. After making 120 qualifying payments, the remaining balance of their Direct loans can be forgiven. Income-Driven Repayment…
Yes, it is possible to refinance student loans. Refinancing student loans involves obtaining a new loan to repay one or more existing student loans. The new loan typically has a lower interest rate and more favourable terms than the original ones. By refinancing student loans, borrowers can save money on interest and lower their monthly…