Borrowers Can Now See Their Progress Toward Being Student Debt-Free in Income-Driven Repayment Plans
Student Loan Borrowers Assistance News
by Ella Halpine
2w ago
On January 16, 2025, the U.S. Department of Education announced that federal student loan borrowers can now, for the first time, see how many months of progress they have toward […] The post Borrowers Can Now See Their Progress Toward Being Student Debt-Free in Income-Driven Repayment Plans appeared first on Student Loan Borrowers Assistance ..read more
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The Department of Education Pauses Processing of TPD Discharges from Dec. 20, 2024, to early Mar. 2025 – What You Should Know
Student Loan Borrowers Assistance News
by Ella Halpine
1M ago
On December 20, 2024, the Department of Education announced that it is temporarily pausing the processing of Total and Permanent Disability (TPD) discharge applications. The TPD processing pause will last […] The post The Department of Education Pauses Processing of TPD Discharges from Dec. 20, 2024, to early Mar. 2025 – What You Should Know appeared first on Student Loan Borrowers Assistance ..read more
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Update on Lawsuits Challenging the SAVE Plan and Options for Borrowers
Student Loan Borrowers Assistance News
by Ella Halpine
1M ago
Last spring, Missouri and several other states filed lawsuits challenging the U.S. Department of Education’s efforts to reduce student loan burdens through the new SAVE repayment plan. These lawsuits are […] The post Update on Lawsuits Challenging the SAVE Plan and Options for Borrowers appeared first on Student Loan Borrowers Assistance ..read more
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Fresh Start Ends Sept. 30: What Borrowers Need to Know
Student Loan Borrowers Assistance News
by Ella Halpine
5M ago
Over 6 million borrowers are in default on their federal student loans. Before the pandemic, these borrowers faced forced seizures of their wages and antipoverty benefits, including through wage garnishment, […] The post Fresh Start Ends Sept. 30: What Borrowers Need to Know appeared first on Student Loan Borrowers Assistance ..read more
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Court Stops US Dept. of Ed. From Using Newest Borrower Defense and Closed School Discharge Rules: What Borrowers Need To Know
Student Loan Borrowers Assistance News
by Ella Halpine
7M ago
Each year, thousands of borrowers struggle with repaying their federal student loan debt after they attended predatory schools that lied or withheld important information to get them to enroll, or closed and prevented them from completing their program. These borrowers are often left with debt but without a valuable degree–or often any degree at all. And without relief, many of these borrowers wind up in default.  The Department of Education has two critical programs that can provide much needed relief to these borrowers: borrower defense and closed school discharges. But too few borrower ..read more
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Introducing NCLC’s Student Loan Toolkit
Student Loan Borrowers Assistance News
by Ella Halpine
8M ago
Whether you are just starting your student loan journey or have been dealing with student loan debt for decades, you can use NCLC’s newly created Student Loan Toolkit to help you take charge of your student loan situation and move forward. Download the toolkit today! The Toolkit explains the basics of the student loan system, how to assess your own student loan situation, and your options for managing your student loan debt. It includes fillable pages where you can record your own student loan information to help you work through your situation and track your progress toward becoming debt-fr ..read more
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Consolidation Deadline Extended to June 30th! Don’t Miss Out on Credit Toward Loan Forgiveness
Student Loan Borrowers Assistance News
by Ella Halpine
9M ago
Consolidation Deadline Extended to June 30, 2024 Today, the  Department of Education announced that the consolidation deadline to take advantage of the payment count adjustment has been extended until June 30, 2024.  Borrowers with older federal student loans that are not held by the Department need to apply to consolidate those loans into a Direct Consolidation Loan in order to get additional credit toward having their loans canceled through income-driven repayment (IDR) or Public Service Loan Forgiveness (PSLF) under the payment count adjustment.  Borrowers with these loans wh ..read more
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The Latest Student Debt Relief Announcements (Part 3): Share Your Thoughts on the New Debt Relief Plan
Student Loan Borrowers Assistance News
by Ella Halpine
10M ago
In an earlier post, we shared information about the new student debt relief plan that President Biden announced on April 8, 2024. The Department of Education later published proposed regulations for most of the new plan. You can now see the full details of how the Biden Administration is proposing to provide relief to borrowers in the following categories: Borrowers who have had their balances balloon with interest and now owe more than they did when they began repayment;  Borrowers who have been trapped in debt for two decades or more;  Borrowers have missed out on debt cancellatio ..read more
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Last Chance for Many to Get More Credit Toward Student Loan Cancellation
Student Loan Borrowers Assistance News
by Ella Halpine
10M ago
The deadline to apply to consolidate many older federal student loans to be included in the one-time payment count adjustment is Tuesday, April 30th.  Do I need to consolidate my loans to get additional credit toward debt relief? How do I know if I have FFEL Loans, Perkins Loans, or Health Education Assistance Loans (HEAL) that are privately held? I have loans I need to consolidate – what do I do next? After I consolidate, when will I see credit toward loan forgiveness on my account? More information on the payment count adjustment The one-time payment count adjustment is a big deal. Fe ..read more
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The PSLF Processing Pause – What You Should Know
Student Loan Borrowers Assistance News
by Ella Halpine
10M ago
Overview The Department of Education is temporarily pausing processing of PSLF applications & forms PSLF borrowers should download their information from their MOHELA account before April 30th Why is the Department pausing PSLF processing? Is my account still with MOHELA during the pause? Is MOHELA still going to service my loans after the transition to the new BPOs? Do I still have to make payments on my loans during the processing pause? Should I still submit my PSLF Employment Certification Form (ECF) during the processing pause? What should PSLF borrowers expect after the pause ends ..read more
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