Student debt

How Strong Is the State of the Student Loan Repayment System?

Retrieved on: 
Wednesday, March 6, 2024
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WASHINGTON, March 6, 2024 /PRNewswire/ --The following is provided by Brian Denten, an officer and Ilan Levine, a senior associate with The Pew Charitable Trusts' student loan initiative.

Key Points: 
  • The last year has brought several changes for federal student loan borrowers, including options that are helping those feeling a financial burden get on a path to successful repayment.
  • Last August, the Biden administration launched an income-driven repayment (IDR) plan known as Saving on a Valuable Education (SAVE).
  • The administration also implemented a limited-time program called Fresh Start for borrowers who missed payments for at least 270 days—those in default status.
  • The ability to make $0 payments while staying current on loan repayment helps limit financial burdens.

Nelnet Announces Changes to Staffing Capacity in Student Loan Servicing Division

Retrieved on: 
Wednesday, January 18, 2023
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LINCOLN, Neb., Jan. 18, 2023 /PRNewswire/ -- Nelnet (NYSE: NNI) today announced changes to manage excess staff capacity due to delays in the government's student debt relief and return to repayment programs.

Key Points: 
  • LINCOLN, Neb., Jan. 18, 2023 /PRNewswire/ -- Nelnet (NYSE: NNI) today announced changes to manage excess staff capacity due to delays in the government's student debt relief and return to repayment programs.
  • Nelnet has a long history of providing high-quality, customer-focused student loan services—and having highly trained, qualified associates is a key component of that success.
  • Because of Nelnet's commitment to customers, its loan servicing centers have remained open and fully staffed throughout the pandemic and to date.
  • Nelnet remains committed to supporting the millions of federal student loan borrowers who will be entering repayment when the temporary pause ends later in the year.

Rob and Melani Walton Foundation Provide Student Scholarship Grant to McPherson College

Retrieved on: 
Wednesday, December 14, 2022
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The Rob Walton Scholarship Fund will focus on attracting and retaining the best students in the colleges unique automotive restoration program.

Key Points: 
  • The Rob Walton Scholarship Fund will focus on attracting and retaining the best students in the colleges unique automotive restoration program.
  • The $1 million gift from the Rob and Melani Walton Foundation will be supplemented by the two-for-one donor match announced by the college in November, resulting in $3 million for the McPherson College endowment.
  • This grant helps us fulfill our mission of being the center of excellence for students serious about automotive restoration, said McPherson College President Michael Schneider.
  • Scholarships, like the Rob Walton Scholarship Fund, work in tandem with the Student Debt Project to help minimize the need for student and family educational loans.

Game of Loans: The stark truth about student loan “debt relief” claims

Retrieved on: 
Friday, November 25, 2022
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If you think the feuds among the Great Houses of Westeros get intense, consider the dinner table discussions about student loan debt.

Key Points: 
  • If you think the feuds among the Great Houses of Westeros get intense, consider the dinner table discussions about student loan debt.
  • Often pitched on social media, the defendants ads struck similar deceptive chords Get rid of student loan debt, $0 monthly payments, and We can .
  • As part of Game of Loans, the FTC announced court orders in two pending cases against Student Aid Center and Strategic Student Solutions.
  • American Student Loan Consolidators.According to the complaint, the Florida company took in more than $11 million with false claims of loan forgiveness, reduced monthly payments, and lower interest rates.
  • Student Debt Doctor.The FTC alleges that the Florida company wasnt what the doctor ordered for consumer struggling with student loan debt.
  • Student Debt Relief Group.The FTC says the LA-based company used a bogus affiliation with the Department of Education to collect more than $7 million in illegal upfront fees.
  • In addition, the FTC has updated advice on how to spot a student loan debt relief scam.
  • The FTC also has advice for companies in the student loan debt relief business.
  • The Telemarketing Sales Rule has specific provisions to curb deceptive and abusive practices in the debt relief services industry, including when the debt is a student loan.
  • Second , under both the TSR and the FTC Act, its illegal to make false or unsubstantiated claims about student loan debt relief services.
  • Read Debt Relief Services and the Telemarketing Sales Rule: A Guide for Business for more compliance advice., under both the TSR and the FTC Act, its illegal to make false or unsubstantiated claims about student loan debt relief services.
  • Read Debt Relief Services and the Telemarketing Sales Rule: A Guide for Business for more compliance advice.

College Aid Pro Issues Merit Scholarship Transparency Report Card

Retrieved on: 
Tuesday, November 8, 2022
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BOSTON, Nov. 8, 2022 /PRNewswire/ -- College Aid Pro (CAP), a technology platform and team of college planning experts helping families find the most affordable path to college, is sharing the results of its study on scholarship transparency, "CAP Report Card: Merit Scholarship Transparency". The paper focuses on merit-based aid and looks at 643 public and private colleges in the U.S.

Key Points: 
  • BOSTON, Nov. 8, 2022 /PRNewswire/ -- College Aid Pro (CAP), a technology platform and team of college planning experts helping families find the most affordable path to college, is sharing the results of its study on scholarship transparency, " CAP Report Card: Merit Scholarship Transparency ".
  • "Regretfully, families will continue to be at a major disadvantage if colleges are not transparent about their ultimate net cost.
  • The paper shines a light on how transparent colleges are with merit-based aid offered to accepted students.
  • College Aid Pro's Mission is to End the Student Debt Crisis by empowering families to shop smarter for college.

McPherson College Announces Transformative $500 Million Commitment, Largest Gift to a Small Liberal Arts College in U.S. History

Retrieved on: 
Friday, November 4, 2022
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McPherson College, a Kansas liberal arts college known for its one-of-a-kind Automotive Restoration Technology degree program, announced today it has received the largest single commitment to a small liberal arts college in the United States.

Key Points: 
  • McPherson College, a Kansas liberal arts college known for its one-of-a-kind Automotive Restoration Technology degree program, announced today it has received the largest single commitment to a small liberal arts college in the United States.
  • If the goal of raising $250 million is met, the donor will contribute $500 million, resulting in a total of $750 million into McPherson Colleges endowment.
  • This is an unprecedented show of support not just for McPherson College but also for Americas small, liberal arts colleges, said Schneider.
  • At the press conference, Melanie Lundquist announced an additional $25 million gift to McPherson College, bringing their total commitment to $50 million.

Surgent Accounting & Financial Education Presents Two New Online CPE Courses

Retrieved on: 
Thursday, October 13, 2022
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RADNOR, Pa., Oct. 13, 2022 /PRNewswire/ -- Surgent Accounting & Financial Education , a division of KnowFully Learning Group, today announced two new online continuing professional education (CPE) courses created to educate participants about the tax implications of matters recently enacted by President Joe Biden.

Key Points: 
  • RADNOR, Pa., Oct. 13, 2022 /PRNewswire/ -- Surgent Accounting & Financial Education , a division of KnowFully Learning Group, today announced two new online continuing professional education (CPE) courses created to educate participants about the tax implications of matters recently enacted by President Joe Biden.
  • Surgent Accounting & Financial Education, a division of KnowFully Learning Group, is a provider of the high-impact education experiences that accounting, tax and financial professionals need throughout their careers.
  • KnowFully Learning Group provides continuing professional education, exam preparation courses and education resources to the accounting, finance and healthcare sectors.
  • The company provides exam preparation and continuing education for accounting, finance, and tax professionals under the Surgent Accounting & Financial Education brand.

With Student Loan Debt in the Spotlight, Millions of Doctors, Nurses and Teachers Have Opportunity for Additional Debt Forgiveness Through New Fidelity Investments® Service

Retrieved on: 
Thursday, September 15, 2022
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With student loan debt squarely in the spotlight once again, employers are being tasked with guiding employees toward much-needed relief.

Key Points: 
  • With student loan debt squarely in the spotlight once again, employers are being tasked with guiding employees toward much-needed relief.
  • We are eager to offer solutions that can help eliminate student loan debt and provide some relief from financial stress, for the millions of nurses, doctors and teachers whom we serve.
  • The new resource provides assistance for the federal Public Service Loan Forgiveness i program, offered by the Department of Education, which is designed to eliminate student loan debt for eligible public service employees.
  • In partnership with Fidelity, we can extend this impact to millions of borrowers and provide them with the guidance they need to navigate their student debt.

MEFA Consumer Alert: Scammers Preying on Student Loan Forgiveness

Retrieved on: 
Friday, September 9, 2022
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Boston, Sept. 09, 2022 (GLOBE NEWSWIRE) -- In the wake of the federal student loan forgiveness plan, a wave of student loan debt relief scams are targeting student loan borrowers.

Key Points: 
  • Boston, Sept. 09, 2022 (GLOBE NEWSWIRE) -- In the wake of the federal student loan forgiveness plan, a wave of student loan debt relief scams are targeting student loan borrowers.
  • MEFA advises the public to be skeptical of information disseminated from sources other than the U.S. Department of Education and their individual student loan companies.
  • Contact your student loan servicer and ask if they provide the services being offered by the debt relief company.
  • For additional information on the Student Debt Relief Plan and avoiding student loan debt relief scams, visit the following:
    Federal Student Aids website https://studentaid.gov/debt-relief-announcement/ and FAQ page https://studentaid.gov/debt-relief-announcement/one-time-cancellation , which provide the most up-to-date information related to the Student Debt Relief Plan.

'Student Debt Smarter' Launched to Help Students Considering College Loans

Retrieved on: 
Thursday, June 9, 2022
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NEW YORK, June 9, 2022 /PRNewswire/ -- The nonpartisan Peter G. Peterson Foundation today launched StudentDebtSmarter.org, a free resource to empower high school students with practical information and personalized insights about their higher education choices.

Key Points: 
  • The digital hub features a unique Student Debt Affordability Calculator that will help millions of people make better-informed decisions about student loans.
  • For the first time, this simple tool will help students, families and their guidance counselors understand and evaluate the financial implications of their decisions on how to pay for college.
  • "As a former college President, I have too often seen how students lack clear, simple and transparent information to borrow wisely to pay for college.
  • "Student Debt Smarter accounts for these factors, and therefore helps students determine under what circumstances student loans will work for them.