Several groups of borrowers signed up for NBC DFW's News Headlines newsletter. Experts say the Biden administration knew its proposals for broad student loan forgiveness would have been blocked by the Trump administration. The proposals would have helped millions escape the burden of student debt and boosted economic mobility. The Public Service Loan Forgiveness (PSLF) program is also facing uncertainty. PSLF allows certain public and non-profit employees to have their federal student loans forgiven after 10 years of on-time payments. The Teacher Loan Forgiveness (TLF) program offers up to $17,500 in loan forgiveness for teachers who work in low-income schools for five years. Many borrowers are worried about the future of PSLF, as it is enshrined in law.
several groups of borrowers>Sign up for NBC DFW's News Headlines newsletter."The Biden administration knew that the proposals for broad student loan forgiveness would have been thwarted by the Trump administration," said higher education expert Mark Kantrowitz.
PSLF allows certain not-for-profit and government employees to have their federal student loans cleared after 10 years of on-time payments. Under TLF, those who teach full-time for five consecutive academic years in a low-income school or educational service agency can be eligible for loan forgiveness of up to $17,500."Many borrowers are particularly concerned about the future of the PSLF program, which is written into law," Rubin said.
STUDENT LOANS BIDEN ADMINISTRATION TRUMP ADMINISTRATION PUBLIC SERVICE LOAN FORGIVENESS TEACHER LOAN FORGIVENESS
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Private Student Loan Refinancing Practices Under ScrutinyThe Consumer Financial Protection Bureau (CFPB) has flagged deceptive marketing practices by some private lenders regarding federal student loan refinancing. The CFPB warns that borrowers who refinance lose access to federal loan forgiveness programs, such as Public Service Loan Forgiveness (PSLF) and Teacher Loan Forgiveness (TLF), as well as one-off forgiveness efforts like President Biden's Plan B.
Read more »
CFPB Warns Against 'Deceptive' Student Loan Refinancing PracticesThe Consumer Financial Protection Bureau (CFPB) is warning student loan borrowers against refinancing federal loans into private loans, citing deceptive practices by some private lenders regarding the loss of federal loan forgiveness options. The CFPB report states that borrowers misled about the consequences of refinancing, potentially forfeiting access to programs like Public Service Loan Forgiveness (PSLF) and Teacher Loan Forgiveness (TLF).
Read more »
Student Loan Refinancing: CFPB Warns of Deceptive PracticesThe Consumer Financial Protection Bureau (CFPB) has issued a warning about deceptive practices used by private student loan lenders who market refinancing of federal student loans. The CFPB states that these lenders mislead borrowers about the loss of access to federal student loan forgiveness programs, such as Public Service Loan Forgiveness (PSLF) and Teacher Loan Forgiveness (TLF), when refinancing.
Read more »
Biden Extends Student Loan ForgivenessPresident Biden announced an extension of student loan forgiveness through the Public Service Loan Forgiveness (PSLF) program, targeting teachers, nurses, service members, and law enforcement.
Read more »
Biden Administration's Student Loan Forgiveness Proposals Could Have Aided MillionsThe Biden administration's proposed policies for student loan forgiveness, including Public Service Loan Forgiveness (PSLF) and the Teacher Loan Forgiveness (TLF) program, could have significantly alleviated the burden of student debt for millions of Americans. Experts believe these proposals would have unlocked economic mobility for many workers and families.
Read more »
Student Loan Refinancing Risks Exposed by CFPBThe Consumer Financial Protection Bureau (CFPB) has issued a report highlighting deceptive practices by some private lenders in the student loan refinancing market. The report warns borrowers that refinancing federal student loans results in the loss of access to federal forgiveness programs, such as Public Service Loan Forgiveness (PSLF) and Teacher Loan Forgiveness (TLF).
Read more »