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President Biden today wiped away an additional $9 billion in student debt. Since he took office, his administration has discharged $127 billion in student loan debt for more than 3.5 million ...
The Education Secretary on Thursday announced a settlement of claims that would give roughly 264,000 student loan borrowers approximately $7.5 billion in debt relief. The settlement resolves a ...
To get student loans discharged, you'll need to prove that they cause you "undue hardship." Borrowers can choose between Chapter 7 and Chapter 13 bankruptcy, but they must file a separate ...
In the United States, student loans are a form of financial aid intended to help students access higher education. In 2018, 70 percent of higher education graduates had used loans to cover some or all of their expenses. [ 1] With notable exceptions, student loans must be repaid, in contrast to other forms of financial aid such as scholarships ...
In 10 years, the loan program experienced 230% growth in the loan portfolio and 130% growth in the loan recipients. Student loan debt in 2019 is the highest it has ever been. According to the latest loan debt statistics, student loan debt has become the second highest consumer debt category behind mortgage debt. [15]
MyRichUncle was a loan product that was marketed to students by the American company MRU Holdings, Inc. (NASDAQ: UNCL). Incorporated March 2, 2000 in Delaware, MyRichUncle entered the student lending market as an originator and holder of private student loans.
Private student loans, on the other hand, have a statute of limitations of anywhere from three to 10 years. After this, they become time-barred. The exact time frame depends on your state of ...
The trend of heavy debt burdens threatens to limit access to higher education, particularly for low-income and first-generation students, who tend to carry the heaviest debt burden. Federal student aid policy has steadily put resources into student loan programs rather than need-based grants, a trend that straps future generations with high ...