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Month: April 2017

The U.S. Makes It Easy for Parents to Get College Loans—Repaying Them Is Another Story

The federal Parent Plus loan program has millions of borrowers, many with subprime credit ratings; its default rate exceeds the rate for U.S. mortgages at the peak of the housing crisis Millions of U.S. parents have taken...
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DeVos Halts Obama-Era Plan to Revamp Student Loan Management

With the stroke of a pen this week, Betsy DeVos, President Trump’s new education secretary, thrust the future of the government’s system for managing federal student loans into confusion. It was a high-stakes move: Her department administers...
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Student Loan Borrowers: Don’t Panic About Forgiveness Eligibility

The majority of borrowers pursuing Public Service Loan Forgiveness are fully eligible – and this won’t change. Last week, we heard from a lot of panicked student loan borrowers who had read about a lawsuit that several...
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New York Is Now the First State to Offer Free College Tuition

Getting a college education for free — sounds like a pipe-dream right? Well, New York state lawmakers have decided to make it a reality for students in their state thanks to a new state budget bill they...
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How I paid off nearly $48,000 of student loan debt in 14 months

Here are the talks to people who’ve paid off their student loans, breaking down how they did it and what they learned. Amanda Page is student-loan-free, but it was far from an easy road. She earned a...
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What JPMorgan CEO Dimon gets wrong about the student debt crisis

JPMorgan Chase CEO Jamie Dimon, in his annual letter to investors, blamed the federal government for the rise in default rates for student loans. Since 2010, when the government took over student lending, direct government lending to...
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A New Look At The Lasting Consequences Of Student Debt

Recent college graduates who borrow are leaving school with an average of $34,000 in student loans. That’s up from $20,000 just 10 years ago, according to a new analysis from the Federal Reserve Bank of New York....
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Education Department Restores Pell Grant Eligibility for Students Whose Colleges Closed

Move will help former students continue degrees elsewhere, without new financial burden The U.S. Department of Education will restore Pell Grant eligibility to students who attended but didn’t graduate from shuttered colleges like ITT Technical Institute, allowing...
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Student Debt Giant Navient to Borrowers: You’re on Your Own

The servicer says publicly it wants to help you pay debt. In a government lawsuit, it has a different message. Over the past several years, Jack Remondi, chief executive of student loan giant Navient Corp., has gone...
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