The Education Department has decided to stop taking money from the Social Security checks of people who haven't paid back their student loans. This is big news for many older Americans who were worried about losing part of their income. The government had recently started collecting these overdue loans again after a pause during the pandemic. About 452, 000 people ag...
The government is restarting the collection of defaulted student loans. This move affects millions of borrowers who have not made payments in a long time. The Department of Education will start taking money from tax refunds, Social Security benefits, and even wages of those who are in default. The process of defaulting on a student loan is straightforward. If a ...
The Education Department is set to resume collection efforts on defaulted student loans starting next month. This move affects about 5. 3 million borrowers who have fallen behind on their federal student loans. These individuals may soon face wage garnishment, tax refund seizures, and reductions in Social Security benefits to repay their debts. The pause on collecti...
The U. S. Department of Education has announced that it will restart collecting on defaulted student loans starting May 5. This decision affects millions of borrowers who have not made a payment in over a year. In total, over 5 million borrowers are currently in default, and this number is expected to rise as an additional 4 million borrowers are on the brink of de...
The Department of Education might be shutting down, but what does this mean for student loans and the FAFSA? The Small Business Administration (SBA) is stepping in to manage federal student loans. This shift comes after significant cuts to the Department of Education's staff and resources. The SBA, however, is also reducing its workforce, which raises concerns about ...
The U. S. Department of Education is facing big changes. President Trump has decided to move the management of federal student loans and special needs programs to other federal agencies. This move is part of a broader effort to reshape the department. First, let's talk about student loans. The federal student loan portfolio is huge. It manages about 1. 6 trillion do...
The American Federation of Teachers has taken legal action against the Department of Education. The lawsuit claims that the Department has halted access to income-driven repayment plans for student loans. This move goes against Congress's clear instructions for the Department to provide these plans. The AFT argues that this decision is pushing borrowers into default ...
The Federal Reserve is expected to keep interest rates steady. This means that people who want to borrow money might have to wait a bit longer for better loan deals. On the other hand, savers might enjoy more stable returns on their savings accounts. The central bank has been raising and lowering rates to control inflation. After a period of rapid increases, they ...
The Department of Education, a federal agency with a history dating back to the 1800s, has been a hot topic lately. Some people, including President Trump, want to shut it down. This idea isn't new. In fact, it has been discussed by many politicians over the years. However, the current administration has taken steps to make this a reality. For example, Linda McMahon,...
Texas students have a big supporter in the U. S. Department of Education. This department sends billions of dollars to Texas for schools, colleges, and job training. These funds help with everything from school lunches to college tuition. The department also makes sure schools follow federal laws, like Title IX, which stops discrimination based on sex. It also en...