After a long pause, the Education Department is set to restart the collection process for overdue student loans. May 5th is the date when the hammer will drop. Borrowers who have fallen behind might soon find themselves dealing with debt collectors or being signed up for income-based repayment plans. This news comes as a wake-up call for many who have been enjoying a...

Are you drowning in student loan debt due to unexpected hardships? The Biden administration has come up with a new idea to help out. On Friday, they proposed a plan that might forgive loans for people hit by serious problems like natural disasters or huge medical bills. It's still not clear exactly who qualifies, but some people might automatically get relief while o...

In a move hailed as a major victory for borrowers, the U.S. Consumer Finance Protection Bureau (CFPB) has proposed a permanent ban on Navient from directly servicing federal student loans. The agency claims that Navient has been "abusing" borrowers for years, forcing them into higher-cost repayment plans and long-term forbearance. But what's behind this proposed ban,...