Will Student Loan Defaults and Delinquencies Return?
Student loan borrowers have enjoyed a three-year reprieve from their student loan payments. Hopefully, many student loan borrowers are in a better place than they were before the pandemic began. Student loan repayment will resume later this summer. Even if the Biden...
Fresh Start Initiative Opportunity to Complete College
Fresh Start initiative allows borrowers with federal student loans in default to reenter current repayment and regain access to aid The Fresh Start initiative was announced by the U.S. Department of Education (ED) last April. Fresh Start gives borrowers...
What Happens October 1st with the CARES Act and My Student Loans?
Over 5.2 million student loan borrowers are in default. The CARES Act has several provisions to help struggling borrowers. Defaulted borrowers have a reprieve from wage garnishment and tax offsets until October 1st 2020. What happens October 1st? Wage garnishment and...
All Types of People Default on Student Loans
Default happens when a borrower fails to repay his or her student loans according to the promissory note. For federal student loans, default occurs after 270 days without a payment. That’s 9 consecutive months of skipping payments. Federal Student Loan Default...