Commencement

02/01/2024

"The Department of Education isn’t able to start sending FAFSA applicants’ information to colleges until March, officials said on a press call with reporters Tuesday. That sets back the already-stalled FAFSA rollout by two additional months, and it's expected to set off a domino effect for financial aid and admissions deadlines set by colleges."

College applicants may not receive financial aid offers until April.

01/02/2024

"Usually, the form is available October 1 each year, but the changes delayed this year’s release date."

A long-awaited update to the Free Application for Federal Student Aid, better known as the FAFSA, was released on December 30. But some families are having trouble accessing the online form, which has so far only been available for short periods of time.

12/18/2023

"Roughly 40% of the 22 million borrowers who had bills due in October did not make payments by mid-November."

Nearly 9 million borrowers missed their first student loan payment after the pandemic-related pause ended this fall, the Department of Education said Friday.

12/13/2023

https://www.stltoday.com/news/local/education/lawsuit-st-louis-area-agency-bungled-student-loan-forgiveness-cost-borrowers-millions/article_a1c78ba4-990f-11ee-ad49-abbc376af1c4.html?utm_source=stltoday.com&utm_campaign=news-alerts&utm_medium=cio&lctg=fef30704e332a4dc07&tn_email_eh1=803092d2200a9908945671a3b3857f1198226efff91c9a74cc6638ef4d6e8657

People across the U.S. say the Missouri Higher Education Loan Authority, or MOHELA, takes hours to answer calls, has failed for a year-plus to make progress on loan forgiveness applications.

10/28/2023

https://www.thedailybeast.com/student-loan-company-nelnet-is-having-a-meltdown-as-payments-resume-post-covid-amid-bidens-save-program

Borrowers say they can’t get answers from the country’s largest student loan provider as repayments resume after the COVID pandemic reprieve.

08/09/2023

https://www.nytimes.com/2023/08/09/your-money/student-loan-bankruptcy-discharge.html

Last year, the Biden administration provided a new path to make it easier to discharge student loans in bankruptcy. The results appear promising, but success has been limited.

08/08/2023

https://www.cnbc.com/2023/08/08/these-companies-hire-remote-workers-and-help-pay-off-student-debt.html?utm_content=Main&utm_medium=Social&utm_source=facebook%7Cmain&fbclid=IwAR2VCEqd8W5JCDyJEpXaBn-UxzKZwF8b38HrWG2Hxyb7TxUdsneC9aci6So

Companies that offer student loan assistance on top of remote work may be especially appealing to some people.

08/07/2023

https://www.cnbc.com/2023/08/07/college-bills-are-due-soon-know-the-risks-of-private-student-loans.html?utm_content=Main&utm_medium=Social&utm_source=facebook%7Cmain&fbclid=IwAR2141y5JBmG1lmkkF5suG2WS3GVTwGsI8cG9HD2muWYQm5wB5kCwUf_ZUQ

With most college bills due this month, some parents and students may be considering taking out private student loans. The option can be risky and expensive.

07/30/2023

The pause on federal student loan debt repayment is ending soon. Do you know how you are going to plan to handle that monthly payment that you haven't had to worry about for a while?

The Biden administration is launching a beta website for its new income-driven student loan repayment plan today, officials told CNN, allowing borrowers to begin submitting applications for the program as federal student loan payments are set to resume in October.

05/17/2023

Federal Student Loan Payments have been on "pause" for over three years, but that is about to change.
According to the US Secretary of Education, payments are now set to resume 60 days after the Supreme Court issues its ruling on the Student Loan Forgiveness case presently before it, or 60 days after June 30 – whichever comes first.
Do you have a plan in place to manage your student debt payments in the coming months? If not, give us a call, (314) 696-1566. Let's talk.

The pause on federal student loan payments is still set to end later this year, Education Secretary Miguel Cardona confirmed this week.

02/27/2023

A technical debate may decide whether more than 40 million Americans receive up to $20,000 in student-loan debt relief.

01/10/2023

"If it's finalized, the proposal would give a major overhaul to income-driven repayment plans — one of several payment options offered by the federal government. The resulting plan would have lower monthly payments, an easier path to forgiveness and a promise that unpaid interest will not be added to a borrower's loan balance."

The White House is moving forward with a proposal that would lower student debt payments for millions of Americans now and in the future.