Protections aimed at helping federal student loan borrowers get back into the habit of making monthly payments end next week. The so-called “on-ramp” for returning to repayment blocked the worst consequences of missing student loan payments after monthly billing resumed last fall following a more than three-year pause during the pandemic. The on-ramp officially expires … Read more
The federal government is ordering student loan servicer Navient to pay a hefty fine aimed at redressing exploited borrowers. The Consumer Financial Protection Bureau (CFPB) filed a proposed order Thursday against Navient, fining the financial firm $120 million and recommending it be permanently banned from servicing federal student loans. Part of that money is earmarked … Read more
A group of Republican-led states has thrown another wrench in the Biden administration’s attempts to reform the federal student loan system. On Thursday, a federal court in Georgia temporarily blocked President Biden’s latest effort to broadly forgive student loans, which was slated to cancel an estimated $150 billion of student loan debt starting as early … Read more