Educational News

Source: site A bankruptcy judge ordered student loan servicer Navient Corp. to suspend its efforts to collect payments from borrowers of certain private student loans who filed for bankruptcy and whose debts were likely eligible for a discharge. Judge Elizabeth Stong…

Source: site A new poll shows 51% of Americans support the idea of President Joe Biden canceling $10,000 of student loan debt for each borrower, illustrating how split the public is regarding one of the president’s early campaign promises. Key Facts…

Source: site On Wednesday, the Biden administration announced it was proposing new regulations for student loans owned by the Department of Education. The proposed rules call for an $85 billion expansion of existing federal student loan forgiveness programs. They would expand eligibility for programs created…

Source: site Discussion about whether President Biden will forgive $10,000 in student loans for all borrowers dominates headlines. But behind the scenes, Biden’s Department of Education has canceled tens of billions of dollars by turbocharging existing loan forgiveness programs. A set of proposed…

Source: site Walmart (WMT) has been sued by the Federal Trade Commission (FTC) for allegedly allowing millions of dollars in fraudulent money transfer services, but the retail giant has slammed the suit, claiming it is “unfounded” and “ignores the billions” it has saved customers. In its…

Source: site CFPB Moves to Reduce Junk Fees Charged by Debt Collectors Advisory opinion explains that most “pay-to-pay” fees charged by debt collectors violate federal law WASHINGTON, D.C. (June 29, 2022) — Today, the Consumer Financial Protection Bureau (CFPB) issued an advisory…

Source: site Adulting can be challenging when it comes to finances. That’s why Travis Credit Union (TCU) is offering an in-person Mad City Money Youth Financial Boot Camp, designed to prepare the next generation with personal finance skills for the workforce.…

Source: site About 2 million federal student loan borrowers, many of whom are seeking debt relief from the Public Service Loan Forgiveness program, will get a new federal student loan servicer as soon as early July. FedLoan – an arm of…

Source: site The Department of Education is preparing a major overhaul for the current student loan servicing systems.  (iStock) The Department of Education recently announced that it will overhaul its current federal student loan servicing systems, giving more power to borrowers to easily…

Source: site On June 9, the CFPB filed a complaint and proposed order in California federal district court seeking final judgment against the owner of a student loan debt relief company for allegedly withdrawing more than $240,000 from the bank accounts of student borrowers without authorization. According…