Unlike PAYE, which is only open to students who took out loans after October 2007, the REPAYE plan will be open to anyone who borrowed directly from the federal government. This includes older borrowers who were previously shut out from PAYE.
You're a newlywed -- congratulations! Welcome to the blissful, stress-free start of marriage, where you and your partner are so in sync, you're almost one person. Or are you?
[View the story "Our Chat on Improving Education" on Storify]...
Graduates with master's degrees in fine arts, education, business administration or social work also stand to save thousands of dollars.
We all know what Thanksgiving entails--turkey, pies, family, friends, acceptable overeating, and leading up to and directly after the event, a whole l...
A federal government credit facility, which responsible marketplace lenders could tap into at a low cost, can help facilitate even stronger products for consumers. A fairer system where banks and marketplace lenders play by the same rules would emerge. A lower cost of capital for marketplace lenders means borrowers will receive better rates.
Like previous TICAS reports, "Student Debt and the Class of 2014" provides a comprehensive overview of the student debt crisis by combining a bird's eye view of the national scope of educational debt with state-by-state data.
The reality is the business of higher education is economically unsustainable and will sooner or later collapse. The first step for creating alternative educational models is to realize why the current system is broken.
As it stands right now, private student loan lenders are not required to offer you any repayment plan beyond what you originally agreed to. Private student loans have no reasonable and affordable repayment options like federal student loans do.
In early 2015, President Obama proposed the Student Aid Bill of Rights, which included a provision to make it easier for borrowers to repay their students loans. As the result, the government introduced a new repayment option for federal student loans: Revised Pay As You Earn (REPAYE).
The grace period is designed to give you some breathing room to find a job before you start student loan repayment. However, once that period is over, you will have to start making regular payments. But there are a few exceptions to extend your period.
He was a made-for-TV success story. Eventually Ellen DeGeneres magnanimously -- as is her way -- handed him a larger-than-life check for a $35,000 college scholarship. Thinking like the middle-class kid he aspired to be, he used the great majority of that money to pay down his existing student loans.
As of October 2015, American consumers owe $8.17 trillion in mortgages, $900 billion in credit cards, and $1.19 trillion in student loans. Home mortg...
In the kerfuffle over presidential candidate Ben Carson's claim that he was admitted to West Point, the news media have pointed out that the "full scholarship" part of his story adds even more confusion because, as the New York Times story today put it, "Technically, West Point does not offer scholarships. It is free." Actually, no, West Point and the other military academies are not free, technically or otherwise.
As exciting as it is to see student debt already at the forefront of the election, it's hard to get too optimistic for change when Congress has demonstrated an unwillingness to advance legislation that would provide relief to those buried in student debt.
Besides making higher education accessible for low-income students, this program serves as an incentive for people who wish to go into public service by offering targeted loan cancellations for specific progression in areas of national need including teaching, nursing and law enforcement.