Tag Archives: loan

Google says it has pulled over 2,000 personal loan apps from its Play Store in India, and is working to make some changes to its policy at a time when the local central bank is increasingly cracking down on predatory practices. Saikat Mitra, Senior Director and Head of Trust and Safety at Google Asia-Pacific, said at an event in New Delhi Thursday that the aforementioned apps were targeting Indian users and that it pulled the apps after consulting with local law… Source link

Burdened by almost $90,000 in federal and private student debt, Alphi Coleman says the loan freeze has afforded her time to unplug and invest in herself. “I’m always going to be able to make money; I’m not always going to be able to make more time,” she says. “I am able to create experiences and create space and time for the people that I love.” A report from the Federal Reserve last month showed almost 60% of student borrowers made zero payments on their federal loans between August… Source link

The 285 graduates of the Otis College of Art and Design in Los Angeles received an extra special graduation gift Sunday when Evan Spiegel, Snap CEO and co-founder, and his wife Miranda Kerr, founder of beauty brand KORA Organics, announced they will pay off all of the Class of 2022’s student loan debt through a donation to the school. While the amount of Spiegel and Kerr’s donation was not disclosed, the college said it’s the largest single gift it has ever received, surpassing the previous… Source link

This year marks 10 years since Keona Tranby graduated from college. A major milestone, to be sure. But after a decade of slowly chipping away at her student loans, Tranby’s still paying for her education, and progress is painfully slow. Although the 32-year-old has paid off roughly $28,800 over the past 10 years, her total balance owed has increased to around $62,000. Tranby, who works as a marketing director for a Minneapolis-based nonprofit, is hopeful she may get some relief in the coming… Source link

When John Isom turned down an opportunity to go to the University of Utah to study computer science and take on an income-share agreement (ISA) to finance the education, he was aware of the risks. “I created a mock budget… and saw how much debt I was going to have to take on,” Isom said in an interview with Yahoo Finance. “Even with a little bit of a scholarship, it honestly didn’t do much — it’s still wildly expensive. You have no choice but to take out a federal student… Source link

Google is profiting from ads promoting “instant” cash and loans delivered “faster than pizza” despite a pledge to ​protect users from “deceptive and harmful” financial products. The ads were served to people in the UK who searched terms like “quick money now” and “need money help”​ and directed users to ​firms offering high-interest loans. One, listed in Google search results above links to the government website and debt charities, promised “cash in ten minutes… Source link

The Education Department’s (ED) office of Federal Student Aid (FSA), which oversees the government’s massive student loan portfolio, is launching stronger standards for student loan servicers in an effort to tighten oversight. “FSA is raising the bar for the level of service student loan borrowers will receive,” FSA Chief Operating Officer Richard Cordray said in a statement.  As payments are set to resume on January 31, 2022, the agency’s moves — which follow on the back of recent news… Source link

The Education Department (ED) is rolling out a series of major changes to a notoriously troubled Public Service Loan Forgiveness (PSLF) program for student loan borrowers in public service. “Borrowers who devote a decade of their lives to public service should be able to rely on the promise of Public Service Loan Forgiveness,” Secretary of Education Miguel Cardona said in a press release. “The system has not delivered on that promise to date, but that is about to change for many borrowers… Source link

Major student loan servicer Navient (NAVI) is quitting the federal servicing business, the company announced Tuesday, handing off its 5.5 million borrowers holding about $280 billion in federal student loans to Maximus, another servicer. Advocates and progressive lawmakers led by Senator Elizabeth Warren (D-MA) heralded the move, in light of Navient’s troubled relationship with the federal government’s consumer protection bodies.  But the departure adds another challenge when the Education… Source link

The student loan debt crisis arose after legislative changes over the years that created a system of largely unchecked lending to millions of students, according to a reporter and author of a new book. “If you just keep on issuing student debt in the same fashion, which is basically giving families a blank check, you’re just going to have more and more families end up in unrepayable debt over the years, and it doesn’t really solve the underlying issue,” Josh Mitchell, Wall Street Journal… Source link