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Department of Education’s Final Regulations: Some Good News for Borrowers Seeking Rehabilitation
November 14, 2013
The Department of Education issued final regulations on November 1, 2013 making significant changes to a number of key student loan programs. Many of the most important changes affect the […]
Continue Reading →Student Loan Servicing Woes
October 30, 2013
The Consumer Financial Protection Bureau’s (CFPB) annual ombudsman report focuses on the problems many borrowers face trying to repay private student loans. We applaud the CFPB report, especially since it […]
Continue Reading →Is there anything I can do to challenge government collection actions?
October 19, 2013
by Temp Author
Yes. You have the right to request an administrative hearing. You may also be able to reduce or suspend collection if you can prove that collection will cause great hardship.
Continue Reading →How do I apply to discharge student loans in bankruptcy?
October 19, 2013
by Temp Author
In addition to filing the regular bankruptcy petition in court, you also have to file a separate case, called an adversary proceeding. Learn more.
Continue Reading →How do I apply for a loan discharge?
October 19, 2013
by Temp Author
The government has developed forms for different types of discharge for you to fill out and send to your loan holder.
Continue Reading →How many payments do I have to miss before I default on a federal loan?
October 19, 2013
by Temp Author
In most cases, you have to miss nine months of payments before you will be in default.
Continue Reading →What does my payment cover?
October 19, 2013
by Temp Author
Your payment goes first to accrued late charges or collection costs, then to any outstanding interest, and finally to outstanding principal. More info. for federal loans.
Continue Reading →Who is eligible to take out federal student loans?
October 19, 2013
by Temp Author
Anyone who is enrolled in a degree, certificate, or other approved program at an eligible school and is a U.S. citizen or eligible non-citizen. In addition, in most cases, borrowers […]
Continue Reading →Rundown on the Shutdown
October 14, 2013
The government shut down has lasted over a week now. This is having a big impact on higher education. However, at least for now, the Department of Education says that […]
Continue Reading →More Updates & News
Important Note: On June 24, 2024, two court decisions temporarily blocked parts of the SAVE Plan from taking effect. These decisions may change borrowers’ rights and access to certain benefits, including repayment plans. We will update this website with more details on how this will impact borrowers soon. Visit here for more information.
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