Tag Archives: Student Loan Debt Relief

The only good thing that happens when an individual defaults on his or her student loan is that debt collectors make money, according to an Undersecretary at the Department of Education who was speaking during a virtual panel discussion earlier this week. Defaults do nothing more than “drive borrowers who …

A study that has been published in the American Journal of Preventive Medicine gives companies in the accounts receivable management industry that collect on student loan debt another arrow in their quiver to convince individuals to pay off their debts — if you don’t do it, you have a higher …

A bill has been introduced in the Senate that would prohibit President Biden from canceling outstanding federal student loan obligations due to a national emergency while also ending the current moratorium on federal student loan payments. The bill, S.4094, the Stop Reckless Student Loan Actions Act, was introduced by Sen. …

The Department of Education yesterday announced major changes to the Public Service Loan Forgiveness Program that will see 22,000 individuals become immediately eligible for the program and an estimated 550,000 individuals move a lot closer to having their student loans wiped away. Under the PSLF, individuals who spend 10 years …

The Department of Education yesterday exercised its authority to extend the window to discharge student loans for individuals who attended schools that closed to cancel $1.1 billion in unpaid student loans — 43% of which are in default — for former students of ITT Technical Institute. The window now includes …

The Department of Education has announced that 323,000 individuals who have a total and permanent disability will have their unpaid student loans automatically discharged without having to file any paperwork or applications. The discharges will wipe out $5.8 billion in unpaid loans. Previously, individuals who had a total and permanent …

The California Department of Financial Protection and Innovation yesterday announced it had assessed $1.4 million in fines and penalties against a student loan debt relief company that was accused of collecting illegal advance fees that are prohibited under federal law. The debt relief company, Amerifed Doc Prep LLC, will refund …