Industry News

27
Aug
With Higher College Costs, More People Buy Tuition Insurance

If a student drops out of college partway through a semester, they can lose the money they paid for tuition and fees. But in recent years, more people are paying for tuition insurance. Tuition insurance can protect families if their child drops out of college after the school’s deadline to obtain tuition reimbursement – typically at the […]

Posted in: Industry News, Student Loan News,
23
Aug
PenFed & Sallie Mae to Offer College Planning & Payment Options

The Pentagon Federal Credit Union and Sallie Mae announced a new partnership that will give PenFed members access to in-school financing through a suite of undergraduate and graduate school payment options. The partnership offers an easy-to-use scholarship tool, PenFed Scholarship Search. This allows access to three million scholarships valued at more than $

Posted in: Industry News, Student Loan News,
26
Jul
Will Student Loan Refinancing Be the Next Big Employee Benefit?

Student loan repayment has been one of the top new benefits companies have been offering to employees. Now, a new program aims to provide another way for companies to help employees save money – by refinancing their student loans. Gradifi, a provider of student loan and college savings benefits, will offer access to LendKey’s nationwide […]

Posted in: Industry News, Student Loan News,
10
Jul
Why California’s AG Is Suing Navient and What it Means for Borrowers

On June 28, California Attorney General Xavier Becerra announced plans to sue student loan servicing company Navient based on allegations of widespread abuse over debt payment collections. This is the latest in a growing number of state lawsuits against the company. Becerra alleged the company violated state laws from encouraging borrowers to postpone their payme

Posted in: Industry News, Student Loan News,
25
Jun
Here’s How to Win $50K to Wipe Out Student Loan Debt

Education Loan Finance recently announced a video contest sponsored by SouthEast Bank that will award the winner $50,000, which would be enough to pay off many borrowers’ student loan debt. The Empower a Brighter Future video contest doesn’t require any payment to enter, and those who enter don’t have to make a purchase of any kind. […]

Posted in: Industry News, Student Loan News,
20
Jun
Discover Offers Employees Help With College Tuition

Discover employees have just received a new benefit: a free college degree. The financial services company recently announced its new program, The Discover College Commitment, enabling full-time and part-time U.S. employees (minimum 30 hours per week) to obtain a college degree by helping them pay for college. Discover will cover full employee costs for book

Posted in: Industry News, Student Loan News,
12
May
Oracle Acquires Vocado, Aims to Streamline Financial Aid for Borrowers

According to a recent press release, the cloud software service company Oracle announced the acquisition of Vocado, a software company that focuses on improving the student loan and financial aid process. More specifically, Vocado will join the Oracle Student Cloud – a software suite that focuses on higher learning and is Oracle’s next-generation, cloud-based s

Posted in: Industry News, Student Loan News,
08
May
Department of Education Cancels Two Debt Collection Contracts

Last week, the Department of Education filed a claim in federal court saying it would cancel debt collection contracts previously offered to Windham Professionals Inc. and Performant Financial Corp. This decision was announced shortly after it was revealed that Education Secretary Betsy DeVos previously had financial ties to Performant Financial Corp, The Washington P

Posted in: Industry News, Student Loan News,
27
Apr
Navient Reports Greater Earnings and Fewer Student Loan Charge-Offs

Navient reported its first quarter earnings this week through its recently expanded segment reporting to reflect the company’s wider business mix. On April 24, Navient stated from its earnings report in the first quarter that it had $500 million of originations in private education refinance loans, a 43 percent fall in private education loan charge-offs […]

Posted in: Industry News, Student Loan News,
30
Mar
Splash Financial Expands Student Loan Refinancing Offers with PenFed Partnership

Splash Financial, Inc. and PenFed Credit Union recently announced they will partner and fund up to $350 million annually for student loan refinancing. For Splash Financial, this partnership will enable it to expand beyond its medical fellows and residents niche to now offer extended options for college graduates interested in consolidating and refinancing their f

Posted in: Industry News, Student Loan News,