Student Debt Relief Unlikely Before Election
The temporary restraining order (TRO) blocking the Biden administration’s student debt relief plan has been extended by a federal judge this week. The original order was issued on September 5th following a lawsuit filed by seven GOP-led states attempting to...
7 Million Student Loan Borrowers Unable or Unwilling to Make Payments During the On-Ramp
12-Month On-Ramp for Federal Student Loans to Expire Soon The Department of Education’s 12-month on-ramp for federal student loans expires September 30th. The on-ramp prevents the worst consequences of missed, late, or partial payments, including negative credit...
Student Loan Default Rates to Skyrocket if Half of Borrowers Continue Not Making Payments
The three-year COVID payment pause offered a lifeline for millions of student loan borrowers and a reprieve from student loan defaults. However, the repeated extensions and the subsequent one-year “on-ramp” period created significant confusion and...
Federal Student Loan Interest Rates Rising
Federal Student Aid announced that Direct Loan Interest Rates for student loans disbursed for the 2024-2025 school year will increase from last year. Interest rates are determined annually and set for a 12-month period. Rates are determined by a formula tied to yields...