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 Defaults Expected to Spike with No Relief in Sight
Court Temporarily Blocks Biden Administration’s Latest Debt Relief Plan This week, a federal judge granted a temporary restraining order against the Biden administration’s student debt relief plan, which may lead to record-high student loan defaults. The...
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...