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Administrative Forbearance for Student Loans

Student Loan Planner

Federal student loan borrowers have access to a new income-driven repayment plan, the SAVE plan. Instead of billing borrowers an incorrect amount, servicers tend to use an administrative forbearance instead. Unfortunately, servicers have had enormous problems calculating what payments should be under that plan.

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Chaos and Confusion: The State of Student Loans

Diverse: Issues in Higher Education

It’s been an incredibly challenging and chaotic year in student loan space,” said Persis Yu, deputy executive director and managing counsel at the Student Borrower Protection Center, a nonprofit organization working to eliminate student debt. The debt burden is not distributed equally among students.

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Student Loans Relief Until May 2022

College Aid Consulting Services

College students get Federal student loan relief until May 2022. The current administration extended a student loan moratorium that has allowed families to put off debt payments during the pandemic. Payments on Federal student loans will be paused through May 1, 2022.

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Courts Blocking SAVE Plan Cause Chaos for Student Loan Borrowers, Advocates Warn

Student Loan Planner

SAVE, which stands for Saving on a Valuable Education, is a new income-driven repayment (IDR) plan that the administration has been touting as the most favorable plan ever created.

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SoFi Sues to End Student Loan Payment Pause

College Aid Services

In… More » SoFi Sues to End Student Loan Payment Pause The post SoFi Sues to End Student Loan Payment Pause first appeared on College Aid Services. In… More » SoFi Sues to End Student Loan Payment Pause The post SoFi Sues to End Student Loan Payment Pause first appeared on College Aid Services.

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For Some Borrowers, the Student Loan Payment Pause Will Last Until At Least 2025

Student Loan Planner

The payment pause was extended numerous times under two presidential administrations.

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PSLF Buyback Program: Eligibility, Costs & How to Apply for Loan Forgiveness Faster

Student Loan Planner

Key Takeaways: Federal student loans have become highly political in recent years, leaving borrowers to ride the emotional rollercoaster of navigating big changes with confusing guidance — alongside a slew of promises and legal challenges.