education
5 days ago
Pending Review

Federal Student Loan Changes Implement Amid Defaults and Settlement Payments

Federal Student Loan Changes Implement Amid Defaults and Settlement Payments
AI-Generated Summary

Federal student loan changes are currently taking effect, prompting millions of borrowers to prepare for new payment plans and service contact. These changes are occurring alongside legislative efforts to 'right-size' the Department of Education. Several settlements are also impacting borrowers. This includes payments from a Navient settlement and financial aid price-fixing resolutions, while courts have mandated that the Education Department wipe out loans for hundreds of thousands of borrowers under separate settlements. Meanwhile, defaults continue to rise, with nearly 300,000 North Carolina college-goers owing billions in student loans.

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Sources

Student Loan Update: GOP bill would codify major change for borrowers

www.msn.com
50%

The proposal is among 10 bills by House Republicans aimed at what they describe as "right-sizing" the Department of Education ...

Education Department Must Wipe Out Student Loans For 500,000 Borrowers Under Settlement, Says Court

www.forbes.com
50%

A federal appeals court rejected a challenge to a landmark settlement agreement, and required the Education Department to ...

College students get first payout in $284M financial aid price-fixing settlement

nypost.com
50%

College students should soon be receiving the first batch of payments in a $284 million settlement with prestigious American universities accused of colluding to fix financial aid offerings. A 2022 ...

Millions face major student loan change. What to know

www.msn.com
50%

Millions face a major student loan change as federal loan servicers begin contacting borrowers in July 2026 to pick a new ...

Nearly 300,000 North Carolina college-goers are in default, owing billions in student loans

www.msn.com
50%

Student loan repayments were mostly paused from 2020 to 2024. Now, defaults on student loans have nearly doubled in the past ...

Changes to student loans took effect this month. Here's what to know

www.msn.com
50%

Changes to federal student loans that are expected to affect millions of student loan borrowers are taking effect as of July ...

Navient student loan settlement payments are arriving. What to know

www.msn.com
50%

Student loan borrowers are starting to see payments from a settlement between the Consumer Financial Protection Bureau and loan servicer Navient that was finalized in 2024. The CFBP, under the Biden ...

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