Tag Archives: debtors

Problems with student loan debt pushed Congress to create a seemingly straightforward law in the 1990s to help borrowers lower default rates by consolidating debt with their spouses. Two decades later, divorced borrowers are struggling with the unforeseen consequences. “This problem, in particular, is a great metaphor for how broken the student loan system is,” Bonnie Latreille, director of research and advocacy at the Student Borrower Protection Center, told Yahoo Finance. “This product was… Source link

The federal payment pause on student loans has given some debtors breathing room. But a new survey shows how borrowers have taken advantage of the pause to target their loans. In January, the Biden administration extended the interest-free payment pause on federal student loans to at least Sept. 30, 2021. While student loan borrowers don’t technically need to repay their debt as the government continues to make the payments on their behalf, some have used the opportunity to drill down on… Source link