Federal student loan forgiveness is available but not evenly distributed. Some students and former students have seen their debt wiped out, but many are still paying. The good news is that many borrowers can explore options with state-level student loan relief programs. Some target specific professions, like those in healthcare. State student loan relief options…
The student loan approval process and how student loans work can be confusing for those preparing to enter college or university. Due to higher education costs, more than 43 million students nationwide have taken advantage of the Federal Student Loan program. Federal student loans can be either subsidized or unsubsidized, offering various benefits. Loans can…
While paying off federal student loans, some borrowers may consider refinancing to negotiate a lower interest rate. Refinancing a student loan is as intensive and detailed as securing a standard loan. There are many factors to consider to determine whether this is the right decision for you. When considering your options to refinance, remember to compare…
All students must begin to repay their student loans at some point. But how much should you set aside to accomplish this? After nine months without a payment, your federal student loan will default. You’ll not only be subject to endless collection calls, but the government can take you to court and may even garnish…
Figuring out how to pay for the soaring costs of higher education is a daunting task, and navigating student loans can be a source of anxiety for many students and graduates. If you are a military member or a veteran, this comprehensive guide has everything you need to know about student loans, including the pros…
PSLF, or Public Service Loan Forgiveness, allows those who have served in the military, as well as federal, state, local, or tribal government agencies, public transportation, water, or bridge districts, public housing authorities, not-for-profit organizations that are tax-exempt. These may include civilian service to the military, emergency management, public safety, law enforcement, early childhood education,…
The Department of Education has paused all student loan collections, payments, and interest until May 1, 2022. Learn how this affects you.
Navient Cancels $1.7 Billion in Student Loan Debt **Update 8/23/2024** In 2022, a multi-state lawsuit filed against Navient, a servicer of federal student loans, resulted in the cancelation of student loan debt totaling $1.7 billon. This amount covered the private loan debt held by around 66,000 students. According to the Navient Multi-State Settlement official site,…
New changes to the Public Service Loan Forgiveness (PSLF) program allows military service to count for student loan forgiveness applications. Learn more.
On August 19, 2021, the Department of Education eliminated student loan debt for “over 323,000 borrowers who have a Total & Permanent Disability (TPD).” Eliminating Loan Debt for Qualifying Disabled Students Through a the program, the total amount of student loan debt to be discharged is estimated at $5.8 million. These discharges were set to…
When you served in the military, you are qualified for the same federal student loan forgiveness teachers, police officers, and social workers receive.
In August of 2019, President Donald Trump announced that his administration will expedite the process for forgiving the Federal student loan debt of eligible veterans. He signed a memorandum on discharging the federal student loan debt of totally and permanently disabled veterans. Doing this will order the Department of Education to eliminate the federal student loan debt owned by American veterans who are completely and permanently disabled.
Did you know that qualifying totally disabled veterans may be eligible for federal student loan forgiveness under a Department of Education (DOE) program? In 2021, the DoE announced a plan to forgive federal student loans for those rated as totally disabled, whether veterans or civilians. More than 300,000 student loan borrowers have a total and…
If you have loans to pay for school, you may be able to take the student loan tax deduction for the interest you paid on the loan. Learn more.
We cover the different types of student loans for military spouses, how to apply and how to pay them back. Learn more.
