Are you eligible for student loan forgiveness under the U.S. Department of Education’s newly overhauled Public Service Loan Forgiveness program? Source: https://finance.yahoo.com/news/student-loan-forgiveness-eligible-apply-165146229.html
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One of the largest student loan servicers is leaving the industry. Senator Elizabeth Warren (MA) said Navient’s exit will leave the industry “far better off”, citing decades of abuses that pushed borrowers deeper into debt. Source: https://www.businessinsider.com/navient-elizabeth-warren-good-riddance-student-loan-company-2021-9
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Student loan forgiveness applications have a 98% rejection rate, but there are some common pitfalls to avoid, such as failing to have your employer sign your Employment Certification Form. Source: https://www.forbes.com/sites/zackfriedman/2021/09/23/why-4500-teachers-got-rejected-for-student-loan-forgiveness/?sh=529fefd0336b
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Attorney Amanda Adrian can review your situation and determine if you have a viable RESPA claim against your servicer. In general, servicers are required by RESPA to evaluate all available loss mitigation options within 30 days and send you a written decision. It may be that your servicer considers your application to be “incomplete” or […]
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The Education Department released a public inquiry, which asked how the Public Service Loan Forgiveness (PSLF) Program can be improved. In just over one month, the inquiry received more than 33,000 responses. Many responses noted that the PSLF process is quite confusing, as individuals were rejected for relief with no clear explanation. According to The […]
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Out of all the age groups, borrowers that are 62 years and older have the least amount of student loan debt, with an average debt of $30,000 plus. However, this is still a substantial amount of debt. Additionally, as they have had years of interest accruing, it becomes increasingly harder to pay off their debt. […]
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If your school closes before you are able to graduate, will your loans be discharged? If you apply to get a discharge under these circumstances, and you meet certain eligibility requirements, then your loans may be discharged. View more information about eligibility criteria here. If you are unsure if you are eligible for a closed […]
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Student loan payments have been paused since March 27, 2020. However, they are set to resume on October 1, 2021. A handful of United States senators are currently working to urge Biden to extend the pause on payments “until at least March 31, 2022”. According to economists, ending the pause may lead to widespread missed […]
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Answer: It depends on what kind of loans you have and how far behind you are. With federal loans, your options are generally forbearance, deferment, consolidation or rehabilitation. For private loans, your options are limited to whatever accommodations your lender is willing to give you. I can counsel you on your options and help you […]
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Critics of student loan forgiveness widely assert that the policy would mostly benefit individuals who are financially well-off. This assumption is made with reasoning that attending college leads to higher earnings. However, new research refutes this assumption. According to a recent study, that “the biggest benefits of cancelling student debt would go to those with […]
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