The Year Student Loan Repayment Never Started
In November, the Education Department’s Under-Secretary, James Kvaal, reported that only 60 percent of the 28 million student loan borrowers who needed to make payments had made them. But this was on 22 million and not the entire 28 million borrowers. About 4 million...
Student Loan Repayment Deserves a Three-Year Grace Period Instead of Six Months
By Balaji Rajan, CEO of IonTuition Since 1990, I have collected and serviced student loans. Helping borrowers with student loan repayment was enjoyable while Federal Student Aid (FSA) established a “reasonable and affordable” payments program. There were landmark...
Student Loan Repayment Problems Continue for Borrowers
The three-year, COVID-era student loan payment pause officially ended in September. The first payments were due in October. Since then, borrowers have faced long hold times to connect to representatives at their federal student loan servicer, payment processing...
Student Loan Default Guardrails that Colleges Can Implement Now
The student loan repayment pause will end this year. Repayment is likely to resume in September or October. The Supreme Court will make its decision on the Biden Administration’s one-time student loan forgiveness program next month. Student loan repayment will...