Tag: student loans

How debt enters students’ lives as early as kindergarten

Hello and welcome back to MarketWatch’s Extra Credit column, a weekly look at the news through the lens of debt. This week we’re examining the...

Student-loan borrowers have had $37 million in wages unfairly garnished, despite COVID-related pause on collections

Borrowers were still having their wages seized over defaulted student debt, months after the government instructed the student-loan industry to pause this activity during the...

Why Americans will be paying for the cost of the war in Afghanistan for decades

Hello and welcome back to MarketWatch’s Extra Credit column, a weekly look at the news through the lens of debt. This week we’re talking about...

Biden administration to cancel $1.1 billion in student debt for some borrowers who attended ITT, the defunct for-profit college

Roughly 115,000 student loan borrowers who attended ITT Technical Institute but left without a degree will have their federal student loan debt cancelled, resulting in...

My sister co-signed our nephew’s student loans for $35,000. When he defaulted, she paid them off. Should his parents repay her?

Dear Quentin, I am the executor of my mom’s estate. I have three siblings. My mom is going to equally divide her assets among the...

‘The language of consumer debt is rife with moral undertones’: Read MarketWatch’s new ‘Extra Credit’ column

Hello and welcome to Extra Credit, a weekly look at the news through the lens of consumer debt. Your monthly car or student-loan bill may...

Student-loan giant that manages Public Service Loan Forgiveness will stop servicing federal loans

The controversial organization that for years has been public servants’ main point of contact in accessing student-loan forgiveness will no longer be servicing federal student...

Biden administration cancels $500 million of student debt of scammed students

Roughly 18,000 borrowers who were scammed by their college will have their federal student loans discharged, amounting to approximately $500 million in relief, the Department...

Why inflation could create a ‘giant wealth transfer’ from lenders to borrowers

Higher prices for rental cars, airplane tickets and uncooked beef roasts have economists and consumers wondering whether we’re living through the start of an inflationary...

Tens of thousands of public servants face delays accessing student-loan relief — due to a simple oversight

In 2007, the government promised teachers, social workers and firefighters that if they worked in public service and made payments on their student loans for...

The government promised to forgive military members’ student loans after 10 years of service — it’s only worked for 124 of them

Almost 3 million people are employed by the Department of Defense, many of whom are performing a quintessential form of public service: Serving in the...

Govt banks offer cheaper loan for foreign education but with riders

NEW DELHI: If you plan on pursuing studies in a foreign university, public sector banks (PSBs) offer the best rates for education loans. However, they...

Student loan servicer Navient illegally deceived borrowers, judge finds

Student loan servicer Navient NAVI, +2.06% illegally deceived borrowers, parents, grandparents and others who put their credit on the line when they co-signed their relatives’...

‘It feels predatory’: 6 million people are not eligible for a COVID-19 pause on student-debt payments — even if they work in public service

When the federal government declared the coronavirus pandemic a national emergency in March, Christopher Granado continued sending $730 each month to pay his federal student-loan...

DeVos appointee who oversaw America’s student-loan portfolio resigns as Biden education secretary pledges to ease student-debt burden

Mark Brown, the head of the office overseeing the government’s student-loan portfolio, resigned Friday, following calls on the Biden administration to remove Brown, who was...

Elizabeth Warren calls for new leadership to oversee student loans — and calls Betsy DeVos era a ‘disaster’

When Congress ordered the Department of Education to stop garnishing the wages of borrowers who defaulted on their student loans as part of the CARES...

Biden administration to extend student loan payment pause on Day 1, transition officials say

Once in office, President-elect Joe Biden will extend the coronavirus-era payment pause on student loans, a member of his transition team told reporters Friday.  “On...

Biden on using executive action to cancel $50,000 in student debt: ‘I think that’s pretty questionable’

President-elect Joe Biden said he is “unlikely” to use his authority to unilaterally cancel $50,000 in student debt for individual borrowers, weighing in on a...

The new stimulus bill didn’t extend the student-loan payment pause — but it has 8 provisions that will affect how families pay for college

Whether borrowers will resume paying their student loans on February 1 will likely be up to President-elect Joe Biden, after Congress left any pause on...

My family paid $7K for my uncle’s funeral. Our cousins said they didn’t have any money, but one remodeled his kitchen and another bought $800 shoes. Would you ask for it back?

Dear Moneyist, My two sisters and I recently paid over $7,000 for the funeral of our uncle, because he had no insurance and his three...

Student debt is fueling the Black-white wealth gap — and pursuing a college degree has become ‘racialized,’ this professor says

That’s thanks in part to Fenaba Addo, an associate professor of consumer science at the University of Wisconsin-Madison who studies debt and its role in...

Student-loan borrowers can skip payments until 2021, but that may not be long enough

It’s official: Millions of student loan borrowers won’t have to make payments on their debts through the end of this year, the Department of Education...

Borrowers are still having their paychecks seized over defaulted student loans, even though the CARES Act was supposed to stop wage garnishment, lawsuit says

More than 2,800 borrowers are having their paychecks garnished over defaulted student loans, even though the CARES Act was supposed to pause student debt payments...

Inside the $5 billion ‘shadow’ student debt market that helps keep for-profit colleges afloat

A new report highlights the $5 billion ‘shadow’ student debt market. (Photo by Robyn Beck / AFP) Roughly 44 million Americans are coping with $1.6...

student loans: IIMs want banks to go easy on student loans

New Delhi | Mumbai: India’s business schools want banks to extend student debt repayment schedules by six months or more, beyond the inbuilt moratorium that...