Image: AP/Butch Dill The U.S. government’s $1.3 trillion student loan program has a dizzying array of repayment plans that can overwhelm borrowers. That’s one of the things loan servicers are supposed to help with. Navient, the nation’s largest student loan servicer, handles accounts for more than 1 in 4 Americans who owe money for their
Month: May 2017
The past graduating season has brought the first class of college gradsto exit school during the Donald Trump era. If youre one of those alums, thats worth noting, too, because of the drastic differences between this president and the last. Simply put, things are going to be different. While you figure out how to navigate
Online finance startup SoFi got its start refinancing student loans but gradually has been adding other services to members.To expand into new regions and move closer to becoming a full-service financial services company, SoFihas confirmed that it raised an additional $500 million in equity financing led by Silver Lake. The new funding round, which previously had
(CNN)Jennifer Chang celebrated when she got her acceptance letter from Yale School of Medicine. She thought her dream of becoming a doctor was finally within her grasp. But now, the 26-year-old med student isn’t so sure. Chang has the grades to make it. She’s committed to serving her patients. But she is also undocumented. “I
I borrowed a total of $81,000 in student loan debt$23,000 of that was from my undergraduate degree from California State University, Long Beach, and then $58,000 of that was from New York University for graduate school. By the time I graduated from NYU in May 2011, I still had $68,000 dollars left to pay after
Image: Shutterstock / Myroslava Gerber Student loan debt may not be exclusive to gender, but women have a tougher time paying it off than men. Women earn just under 80 cents on the dollar compared with men, according to the U.S. Census Bureau, and they’re paying more out of their pockets to service debt.One year
The presidents plan to reduce spending ran into some conservative opposition, in addition to criticism from Democrats, for cuts to Medicaid and other programs Donald Trumps proposal to reduce spending by $3.6tn, mostly by slashing antipoverty programs that provide social safety nets for the poor, ran into bipartisan opposition on Capitol Hill, where a number
College may be the time of our lives, but the aftermath, not so much. Student loans suck. A lot of graduates know this struggle, myself included. I have way more than the average $30k in student loans most students are said to have after graduation. We spend years in school in hopes of landing a
As if the entire system of student loan payments isnt already enough of a headache, the Consumer Financial Protections Bureau and state attorneys general in Illinois and Washington have now filed lawsuits against Navient, the largest servicer of student loans in the US. Despite accusationsof extensive mistakes and violations, Navient has denied all wrongdoing, New
When it comes to reforming the way you pay back your loans, you can now expect less from the Department of Education. On Tuesday, educationsecretary Betsy DeVos ordered a withdrawal from an Obamaplan that called for the government toincentivize high quality, transparent and consistent servicing for borrowers, and create meaningful consequences for vendors who come