Issues, rules, and latest news on the student loan debt crisis.
The student loan default rate has increased to its highest percentage.
There are more than 44 million borrowers of student loans with the debt total inching towards $1.5 trillion, resulting in high default rates.
Unfortunately, Alabama is also one of only five states where the average school debt exceeds family income.
The FTC- Federal Trade Commission has reached agreement with student loan refinancer SoFi regarding misrepresenting how much student loan borrowers could save.
Companies are now offering student loan assistance for its employees.
Milwaukee now ranks thirteen in the country with more student loan debt than mortgages.
Per a district court ruling, Education Secretary Betsy Devos has to immediately implement the Borrower Protection Rule.
Like many other states, Maine also has a student loan forgiveness program.
The Department of Education released data that shows how ineffective the student loan forgiveness program has been.
Attorney Generals from nineteen states plus the District of Columbia sued U.S. Secretary of Education Betsy DeVos and the U.S. Department of Education for failing to implement a borrower protection rule.
State rankings on student loans.
Wisconsin Governor is proposing new rules in order to keep students in the state.
Frotman accuses the Trump Administration and Mulvaney of having –“turned its back on young people and their financial futures.”
The Federal Reserve has released new data regarding the student loan debt crisis. Per the data, out of $1.4 trillion debt pertaining to student loans, women have approximately $900 billion.
Student loans are the second highest household debt behind mortgages.
Student loan debt is increasing by as much as $30 billion each quarter and is predicted to hit $2 trillion by 2021.
Student loan debt is estimated at $1.5 trillion, and with the costs of education increasing, so will the national debt.
A recent study by Student Loan Hero discovered that the LGBTQ has more student loan debt than any other group of students.
The Department of Education came out publicly and stated they wish to consider options for students loans and bankruptcy.