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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

Chaos: the word experts chose time and again to describe the current state of student debt relief efforts and loan repayment. Since President Biden’s first attempt to clean the slate for millions of student borrowers was struck down by the U.S. 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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Federal Student Aid Reaches Settlement on Student Aid Eligibility Violations

Diverse: Issues in Higher Education

It relates to violations of the “ability-to-benefit” test regulations that govern eligibility to receive federal student aid for students without a high school diploma or GED equivalent. A 2023 ED investigation found that Florida Career College routinely broke the rules governing how schools can administer ATB tests.

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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.