Student Loan News

30
Jul
Colleges Ask for Future Shares of Income Instead of Tuition

Instead of requiring students to pay up front for tuition, some colleges are asking for a percentage of their future salaries. The arrangement is intended to help students avoid going into debt to pay for college. Norwich University in Vermont recently announced it has joined the ranks of schools offering Income Share Agreements (ISA), the Associated Press [&hell

Posted in: National 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,
25
Jul
College Graduates Trading Dream Careers to Make Student Loan Payments

With seven in 10 college graduates owing on student loans after they get their diplomas, many graduates are finding how much they owe is a driving force in their job selection. A study from a nonprofit group, American Student Assistance, revealed that over half of people who have student loans say their debt load was a major factor […]

Posted in: National News, Student Loan News,
24
Jul
Parents Take On More Student Loan Debt to Pay for Their Kids’ College

With America’s student loan debt at $1.5 trillion, even parents are finding themselves deep in debt. From a new analysis of federal loan data, The New York Times reported that the average debt load for students has plateaued—possibly incurring a slight drop—when adjusting for inflation. This should bring rounds of applause; however, the data for parent

Posted in: National News, Student Loan News,
16
Jul
Students Paying More for College But Aren’t Sure It’s Worth It

A countrywide survey set up by Ascent Student Loans has revealed students are paying more for their college educations than they anticipated. Furthermore, they don’t think their education is paying off as much as the price tag indicates it should. Almost half of the college students surveyed are coughing up more money for college than they t

Posted in: National News, Student Loan News,
13
Jul
Study Reveals Borrowers Who Repay Their Student Loans Do So Early

After years of making payments on their student loan debt, most borrowers who pay off their loans typically end this journey with a lump sum payment, according to a recent study by the Bureau of Consumer Financial Protection’s Office of Research. In this report, the research team reviewed approximately 270,000 student loan borrowers’ use of credit […]

Posted in: National News, Student Loan News,
11
Jul
‘Paid Off’ Game Show Wants to Pay Off Your Student Loans

For students looking to pay off their student debt, help could be on the way with TruTV’s “Paid Off” show. With an inaugural air date of July 10, the new TV quiz show aims to help college graduate contestants saddled with student loan debt. Slated for 16 episodes, host and actor Michael Torpey hopes to increase […]

Posted in: National 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,
03
Jul
The Downside of Student Loan Forgiveness: A Huge Tax Bill

Students looking for student loan debt relief might also find themselves with an unexpected tax bill. These one-time tax bills are a component of the Education Department’s income-driven repayment plans. Created in 2007, one version of the plan enables borrowers to establish monthly federal student loan payments of 10 percent from their discretionary income; over ti

Posted in: National News, Student Loan News,
02
Jul
New Bill Would Help Borrowers in Student Loan Default Keep Their License

Losing your license can be one of many bad things that happen when you default on your student loans. However, many struggling borrowers might be able to stop fearing that loss if a new bill becomes law. Senators Marco Rubio and Elizabeth Warren recently partnered to introduce a bill designed to stop states from suspending residential […]

Posted in: National News, Student Loan News,