PSLF

ADP Teams Up with Summer to Support SECURE 2.0 Student Loan Retirement Match

Retrieved on: 
Thursday, March 28, 2024
Retirement, PSLF, Pressure, IDR, Public Service Loan Forgiveness, ADP, Financial adviser

NEW YORK, March 28, 2024 /PRNewswire-PRWeb/ -- Today, Summer and ADP announced an integration to support student loan benefits offerings. This relationship will make it possible for all of ADP's retirement plan clients to offer Student Loan Retirement Matching and additional student debt tools through Summer's platform.

Key Points: 
  • NEW YORK, March 28, 2024 /PRNewswire-PRWeb/ -- Today, Summer and ADP announced an integration to support student loan benefits offerings.
  • This relationship will make it possible for all of ADP's retirement plan clients to offer Student Loan Retirement Matching and additional student debt tools through Summer's platform.
  • Even when student loan payments were paused, many student loan debt holders reported they delayed saving for retirement due to that debt, and with payments now resumed, employees may feel increased pressure to prioritize paying down debt over saving for retirement.
  • The SECURE 2.0 Act helps alleviate this savings challenge by allowing employers to treat student loan payments as qualifying contributions toward retirement plans.

Candidly Releases Inaugural Impact Report

Retrieved on: 
Thursday, February 15, 2024
Professional Services, Education, Technology, Finance, Fintech, Artificial Intelligence, University, PSLF, Adidas, Financial services, Workplace, Supreme, Bread Financial, Growth, UBS, SAVE, Life, Safety, Vanguard, Hub International, HUB, Policy, Forgiveness, Trust, PNC, Prince, Bank

Candidly, the leading AI-driven student debt and savings optimization platform, released today its 2023 Impact Report, which highlights customer profiles and shares key milestones met by the company in 2023.

Key Points: 
  • Candidly, the leading AI-driven student debt and savings optimization platform, released today its 2023 Impact Report, which highlights customer profiles and shares key milestones met by the company in 2023.
  • Achievements featured in the report include surpassing $1 billion in projected impact over the life of the loans of its end users, the vast majority of whom are offered Candidly as a workplace benefit from their employer.
  • This number represents the total dollar impact that Candidly users are on track to realize as a result of actions taken and payments facilitated through the Candidly platform; for example, dollars saved on interest from extra payments, monthly savings from income-driven repayment plans, and projected forgiveness amounts.
  • Tax-Advantaged Student Loan Employer Contributions - Candidly tripled the dollars sent to student debt via employer-sponsored student loan repayment contributions in 2023.

NCLA Asks Court to Uphold Lawsuit Against Dep’t of Education’s Illegal Student Loan Payment Pause

Retrieved on: 
Tuesday, December 5, 2023
Public policy, COVID-19, PSLF, Government, Court, NCLA, Congress, Forgiveness, Supreme, Cato Institute, Organization, District court, Exercise

of Education’s unlawful 35-month suspension of monthly student loan payment obligations.

Key Points: 
  • of Education’s unlawful 35-month suspension of monthly student loan payment obligations.
  • Congress lawfully suspended monthly payment obligations and interest accrual on federal student loans by statute for six months in 2020 in response to the Covid-19 pandemic.
  • NCLA asks the Court to declare these suspension and debt cancellation measures unlawful and put a stop to them before the Department of Education can overstep its authority even more.
  • That starts by recognizing the Mackinac Center’s economic injury here and denying the government’s motion to dismiss this lawsuit.”

NCLA Asks Appeals Court to Block Unlawful Biden Scheme Trying to Cancel Student Loan Debt

Retrieved on: 
Tuesday, October 10, 2023
Congress, Mackinac Center for Public Policy, Joe Biden, Law of the United Kingdom, Public Service Loan Forgiveness, Democracy, Forgiveness, Same-sex marriage in the Sixth Circuit, Education, Cato, Organization, Court, United States Court of Appeals for the Sixth Circuit, Administration, Cato Institute, Bangladesh Technical Education Board, IDR, Greenhouse effect (United States Supreme Court), Constitution, NCLA, Public policy, Supreme court, Administrative Procedure Act (United States), Fiat, Policy, PSLF, Ink

Moving on an accelerated schedule to deter court review, the Department of Education announced the unlawful plan in July before the ink was dry on the Supreme Court opinion striking down its old $430 billion student loan debt cancellation plan.

Key Points: 
  • Moving on an accelerated schedule to deter court review, the Department of Education announced the unlawful plan in July before the ink was dry on the Supreme Court opinion striking down its old $430 billion student loan debt cancellation plan.
  • On October 4, President Biden announced an additional $9 billion in student loan debt cancellation, including $5.2 billion for PSLF borrowers and $2.8 billion for IDR borrowers.
  • NCLA released the following statements:
    “The Supreme Court has declared unlawful the Administration’s $430 billion student loan program to cancel student loan debt by administrative fiat without involving Congress.
  • The Department of Education’s ongoing campaign to cancel billions of dollars of student loans by rewriting statutes is disgraceful and despotic.”

NCLA Asks Appeals Court to Block Unlawful Biden Scheme Trying to Cancel Student Loan Debt

Retrieved on: 
Tuesday, October 10, 2023
Congress, Mackinac Center for Public Policy, Joe Biden, Law of the United Kingdom, Public Service Loan Forgiveness, Democracy, Forgiveness, Same-sex marriage in the Sixth Circuit, Education, Cato, Organization, Court, United States Court of Appeals for the Sixth Circuit, Administration, Cato Institute, Bangladesh Technical Education Board, IDR, Greenhouse effect (United States Supreme Court), Constitution, NCLA, Public policy, Supreme court, Administrative Procedure Act (United States), Fiat, Policy, PSLF, Ink

Moving on an accelerated schedule to deter court review, the Department of Education announced the unlawful plan in July before the ink was dry on the Supreme Court opinion striking down its old $430 billion student loan debt cancellation plan.

Key Points: 
  • Moving on an accelerated schedule to deter court review, the Department of Education announced the unlawful plan in July before the ink was dry on the Supreme Court opinion striking down its old $430 billion student loan debt cancellation plan.
  • On October 4, President Biden announced an additional $9 billion in student loan debt cancellation, including $5.2 billion for PSLF borrowers and $2.8 billion for IDR borrowers.
  • NCLA released the following statements:
    “The Supreme Court has declared unlawful the Administration’s $430 billion student loan program to cancel student loan debt by administrative fiat without involving Congress.
  • The Department of Education’s ongoing campaign to cancel billions of dollars of student loans by rewriting statutes is disgraceful and despotic.”

Research from WGU Labs and Savi Shows Student Loan Borrowers Are Unaware of Government Programs as Repayment Begins

Retrieved on: 
Wednesday, September 27, 2023
University, Public Service Loan Forgiveness, Research, SALT, Public sector, Ageing, Forgiveness, PSLF, Bank, Credit, Western Governors University, Gallup

This seems to be particularly true for borrowers who have less than a bachelor’s degree and borrowers living on limited income.

Key Points: 
  • This seems to be particularly true for borrowers who have less than a bachelor’s degree and borrowers living on limited income.
  • “With 43 million student loan borrowers across the country holding $1.6 trillion of federal debt, student debt and repayment is a national concern,” said Dr. Betheny Gross, Research Director, WGU Labs.
  • “We are committed to reaching these communities, to give them the support they need to successfully navigate this complicated process."
  • WGU Labs and Savi surveyed a nationally representative sample of 3,406 student loan borrowers aged 21 to 50 to learn more about what they owe, how they are navigating repayment, and how the debt they carry shapes their personal, professional, and financial choices.

NCLA Suit for Cato and Mackinac Center Contests Biden’s New Student Loan Debt Canceling Scheme

Retrieved on: 
Friday, August 4, 2023
Bangladesh Technical Education Board, IDR, Cato, Office of Inspector General, U.S. Department of Health and Human Services, Public policy, Mackinac Center for Public Policy, Administrative Procedure Act (United States), Nonsense, Public Service Loan Forgiveness, Cato Institute, Ink, Organization, Treasury, Congress, District court, O'Hara, U.S. Treasury, Administration, Complaint, Supreme court, Law of the United Kingdom, NCLA, Forgiveness, PSLF, Douglas v. U.S. District Court ex rel Talk America, Constitution, Security (finance), Lease

The plan would cancel even more debt prematurely at taxpayer expense for another 2.8 million IDR borrowers in the future.

Key Points: 
  • The plan would cancel even more debt prematurely at taxpayer expense for another 2.8 million IDR borrowers in the future.
  • The plan thus directly harms non-profit organizations that benefit from PSLF like Cato and the Mackinac Center and undermines Congress’ goals in enacting the PSLF program.
  • NCLA made similar standing arguments in its successful Biden v. Nebraska amicus curiae brief , in a now-closed federal lawsuit with the Cato Institute against the previous student loan debt cancellation plan, and in a continuing Mackinac Center suit challenging the Department of Education’s repeated student loan payment suspensions.
  • No amount of nonsense changes the essential fact Congress required debtors to make payments before receiving debt relief.”

PennantPark Investment Corporation’s Unconsolidated Joint Venture, PennantPark Senior Loan Fund, LLC Completes $300 Million CLO

Retrieved on: 
Wednesday, July 26, 2023
Sale, Growth, BNP Paribas, PSLF, CLO, Security (finance)

“We are pleased to enhance the capital position of both PSLF and our platform and to participate in today’s excellent vintage of both primary and secondary opportunities.

Key Points: 
  • “We are pleased to enhance the capital position of both PSLF and our platform and to participate in today’s excellent vintage of both primary and secondary opportunities.
  • The reinvestment period for the term debt securitization ends in July 2027 and the CLO Notes are scheduled to mature in July 2035.
  • The proceeds from the CLO Notes will be used to repay a portion of PSLF’s $325 million secured credit facility.
  • In addition, PSLF acts as retention holder in the transaction to retain exposure to the performance of the securitized assets.

Annals of Family Medicine: Papers illustrate ways in which federal and insurance policies may negatively influence primary care practice

Retrieved on: 
Tuesday, July 25, 2023
Vaccine, Workforce, Insurance, Annals of Family Medicine, Society, University, Public Service Loan Forgiveness, College, Private, Vaccination, ANN, NHSC, Physician, American Academy, North American Primary Care Research Group, Research, Multimedia, Family medicine, American Board of Family Medicine, Federally Qualified Health Center, American Board of Commissioners for Foreign Missions, Indian Health Service, Acquisition, Patient, University of Minnesota Medical School, Practitioner, College of Family Physicians of Canada, HPV, American Academy of Family Physicians, Health care, National Health Service Corps, American Association for Pediatric Ophthalmology and Strabismus, Forgiveness, Teacher, Pediatrics, Private sector, Nursing, Pharmaceutical industry, Doctor of Philosophy, Annals, PSLF

ANN ARBOR, Mich., July 25, 2023 /PRNewswire/ -- Two papers published in the July/August issue of Annals of Family Medicine address federal policy impact on Family Medicine practice.

Key Points: 
  • ANN ARBOR, Mich., July 25, 2023 /PRNewswire/ -- Two papers published in the July/August issue of Annals of Family Medicine address federal policy impact on Family Medicine practice.
  • The first documents differences in how federal medical school loan repayment programs support doctors who want to practice in rural and underserved areas.
  • The second describes the impact of differences in insurance reimbursement rates for identical care based on specialty and the implications of these differences on patient access to care.
  • Complete editorial content and interactive discussion groups for each published article can be accessed free of charge on the journal's website, www.AnnFamMed.org .

American Federation of Teachers and Summer Reach $22 Million in Realized Student Loan Forgiveness

Retrieved on: 
Wednesday, May 31, 2023
Professional Services, Education, Finance, Other Education, Consulting, Banking, IDR, Partnership, Public Service Loan Forgiveness, AFT, Joe Biden, Pell, SCOTUS, American Federation of Teachers, AFL–CIO, Nursing, Forgiveness, PSLF, Tutoring, Summer

The American Federation of Teachers , an affiliate of the AFL-CIO that represents more than 1.7 million members, in partnership with Summer , a Certified B Corporation whose digital education assistance solution empowers individuals to reach their financial goals, today announced it has helped nearly 25,000 teachers with their student debt, connecting borrowers to $22 million in realized student loan forgiveness.

Key Points: 
  • The American Federation of Teachers , an affiliate of the AFL-CIO that represents more than 1.7 million members, in partnership with Summer , a Certified B Corporation whose digital education assistance solution empowers individuals to reach their financial goals, today announced it has helped nearly 25,000 teachers with their student debt, connecting borrowers to $22 million in realized student loan forgiveness.
  • “While the Biden Administration’s student loan forgiveness plan hangs in the balance at SCOTUS, we continue to fight to keep the promise of Public Service Loan Forgiveness for America’s teachers, nurses and all public employees,” said Randi Weingarten, President of AFT.
  • Through the Public Service Loan Forgiveness (PSLF) program, Summer has helped AFT members see $22 million in student loans canceled to date.
  • Additionally, AFT members enrolled in an Income-Driven Repayment plan through Summer are anticipating an average of nearly $53,000 over the lifetime of their loan.