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Student Loan Borrower News
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Will the government or private lenders ever agree to settle student loan debt?
May 19, 2013
by Temp Author
Sometimes, but they usually require a large lump sum payment.
Continue Reading →Open Letter to Lenders: Stop Making Excuses, Start Helping Borrowers
May 15, 2013
In discussing the company’s lending to “non-traditional” students, Sallie Mae CEO Al Lord said in a June 5, 2008 interview that “[i]t was obviously a mistake and I’m not going to step […]
Continue Reading →Does the Department of Education offer assistance?
April 19, 2013
by Temp Author
The Department of Education has an ombudsman office to help borrowers and a number of helpful publications and other resources. The Department also posts answers to frequently asked questions from consumer advocates. […]
Continue Reading →Will the government or lender be able to collect from me if I am sued and lose my case?
April 19, 2013
by Temp Author
It depends on whether you are “collection proof.” This means that your assets and income are small enough to be protected by federal and state law from seizure by creditors.
Continue Reading →Can private student loans be canceled?
April 19, 2013
by Temp Author
Yes, but only if the private lender has a cancellation program. Most do not, but some have announced full or partial cancellations due to death and disability.
Continue Reading →Will a default or delinquency show up on my credit report?
April 19, 2013
by Temp Author
Yes, but in most cases, there is a time limit on how long the negative information will appear. More info.
Continue Reading →Is repayment relief available for private loan borrowers?
April 19, 2013
by Temp Author
There is no specific federal law that requires private loan creditors to offer relief. If you are having trouble with a private loan, you should request a copy of your […]
Continue Reading →Do private loans have flexible repayment plans?
April 19, 2013
by Temp Author
Most do not, but it depends on the lender. Some private lenders also offer deferments on private student loans.
Continue Reading →Do I need good credit to borrow a student loan?
April 19, 2013
by Temp Author
Except for PLUS loans, the government will not look at your credit in deciding whether you are eligible for a loan. Private loans are a different story—the interest rate you get will […]
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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