96 Out of 28,000 Borrowers Approved for Public Service Loan Forgiveness … What Does This Mean for Everyone Else?
October 05, 2018
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It has been one year since student loan borrowers have been theoretically eligible to have their loans forgiven under the Public Service Loan Forgiveness (PSLF) program. And yet, out of the 28,000 borrowers who applied, only 96 have had their loans forgiven. That is less than 1 percen
Continue Reading →Parent PLUS Borrowers Lose Affordable Repayment Option Under Trump’s Budget
May 31, 2017
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Last Thursday, President Trump announced his budget plan, which includes some dramatic changes for student loan borrowers. One of these big changes is to income-driven repayment. The budget proposes to eliminate the multiple existing income-driven repayment plans and replace them with
Continue Reading →Loss of IRS Data Retrieval Tool Complicates Financial Aid Applications and Student Loan Repayment for Millions
April 12, 2017
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By Diane Cheng, Associate Research Director, the Institute for College Access & Success (TICAS) This post originally appeared on www.ticas.org/blog. 20 million students complete the FAFSA every year to apply for financial aid from the federal government, states, and colleges. More
Continue Reading →You can now complain to the CFPB about your federal student loans (and you should!)
August 23, 2016
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Last week, the Consumer Financial Protection Bureau’s (“CFPB”) Student Loan Ombudsman released its midyear report analyzing complaints submitted directly by consumers about their student loans. Importantly, the CFPB’s Student Loan Ombudsman announced that it is
Continue Reading →Student Loans on Credit Reports
June 21, 2016
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Credit reporting is a confusing topic for all types of debt, but it is especially confusing for student loans. This is largely because there are so many different types of student loans and they are governed by so many different rules. For example, there are multiple types
Continue Reading →Putting Service Over Profits in the Federal Student Loan Program
April 23, 2015
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Senator Warren and Congressman Cummings recently held a “Tackling Student Debt” hearing in Boston as part of their middle class prosperity project. NCLC’s statement at the hearing highlighted concerns about government profits in the student loan programs. The b
Continue Reading →What is on the Department of Education’s Negotiated Rulemaking Agenda?
February 23, 2015
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The Department of Education’s latest round of negotiated rulemaking begins tomorrow. The Department has set out a limited, but important agenda, focusing on income-driven repayment and benefits for military service members. Specifically, the Department has said that t
Continue Reading →The Best of Senator Harkin’s HEA Discussion Draft, Part 2: Restoring Rehabilitation Rights
August 21, 2014
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We wrote in our March 2014 report about the critical importance of giving students more than one chance to succeed in college. The reality is that most students do not follow a straight line from high school to a four-year college to graduation. Many stumble along the way.
Continue Reading →New Rules for Loan Rehabilitation
June 28, 2014
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We wrote earlier about a number of important changes to the federal student loan program. It took a long time, but it’s now almost July 1, the date when the new rules become effective. There are a number of important changes, including very significant improvements to the loan r
Continue Reading →What Is President Obama Proposing to Do to Make Student Loans More Affordable?
June 16, 2014
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President Obama announced new executive actions last week to address rising student loan debt burdens. The proposed changes to income-based repayment received the most attention. The current Pay As You Earn plan has the most favorable terms for borrowers, but is only available
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