Educational News

Nearly a third, 30%, of federal student loan borrowers say they’ve gone without food, medicine or other necessities because of their monthly bills. That grim finding comes from a new survey by the Consumer Financial Protection Bureau, conducted between October 2023 and January 2024, and including more…

Latest relief under Public Service Loan Forgiveness (PSLF) Program brings total loan forgiveness approved by the Administration to over $175 billion for more than 4.8 million Americans The Biden-Harris Administration announced today the approval of approximately $4.5 billion in additional…

More students are eligible for federal financial aid, but fewer high schoolers are pursuing a four-year degree. Increasingly, college is becoming a path for only those with the means to pay for it, many studies show.  “We know there’s still work to do and people…

WashingtonCNN —  A federal regulator said Thursday that it is banning Navient from servicing federal student loans and ordering the company to pay $120 million. The agreement settles a lawsuit brought by the Consumer Financial Protection Bureau in 2017, which claimed the company misled…

Student loan payments are due in October for the first time in three-plus years – but for the next 12 months, borrowers will be able to skip payments without facing the harsh financial consequences of defaulting on their loans. The Biden administration…

WASHINGTON, Aug 28 (Reuters) – The U.S. Supreme Court declined on Wednesday to revive President Joe Biden’s student debt relief plan, giving a boost to Republican-led states that have sued to block it. The justices rejected the administration’s request to temporarily lift…

LL Flooring, formerly known as Lumber Liquidators, has filed for bankruptcy and will close 94 of its stores across the United States. But the retailer is not liquidating itself immediately, as the company recently announced that it had entered Chapter 11,…

One of Australia’s largest debt collectors will be taken to court after allegedly operating in Victoria despite being banned for previous illegal conduct. Queensland-based debt collection company Panthera Finance, which operates nationwide, was prohibited from operating in Victoria after it…

Bad debt in the personal loans sector is increasing, with defaults highest in the education segment and lowest in housing, according to an RBI report. Non-performing assets or NPA in education personal loans are at 3.6 percent, compared to 1.8…

In its first case under the Impersonation Rule, the Federal Trade Commission has stopped a student loan debt relief scheme that bilked more than $20.3 million from consumers seeking debt relief by pretending to be affiliated with the Department of Education.…