student debt

Eight million people were already enrolled in the SAVE program when it was paused by a lower court. read more >

Student loan debt in the United States posted its first-ever decline in 2023, falling to $1.73 trillion compared with $1.76 trillion in 2022, according to the Education Data Initiative, a […] read more >

Republicans in Congress tried unsuccessfully to block the new repayment plan through legislation and a resolution last year. read more >

The Education Department said Friday it will withhold payments from Aidvantage, EdFinancial and Nelnet for failing to meet their contractual obligations. The servicers failed to send timely statements to more than 750,000 borrowers in the first month of repayment, the agency said. read more >

Meanwhile, federal student loan borrowers began making payments again this month after a three-year-plus pause due to the pandemic. read more >

On an earnings call last month, the chief financial officer of Target said that student loan payments restarting will "put additional pressure on the already-strained budgets of tens of millions of households," a sentiment echoed by the financial chiefs of Best Buy and other retailers. read more >

It's for people in income-driven repayment plans who have been paying back loans for 20 or 25 years but who never received credit for late or partial payments. read more >

Student loan debt is a big deal in this country, and the forbearance of federal student loan repayments ends Oct. 1, with interest accruing on Sept. 1, 2023. read more >

Though many hoped their loans might at least be lightened, the Supreme Court last week struck down a Biden administration plan that would have given millions of people some relief from the return of the loan payments. read more >

The court held that the administration needs Congress' endorsement before undertaking so costly a program. read more >

The Republican-led states plan to appeal the decision. read more >

Arkansas is one of six Republican-led states that sued over the plan. read more >

The settlement includes $1.7 billion in debt cancellation and $95 million in restitution. read more >