Student Loan Related

Get the latest updates on student loans, repayment options, forgiveness programs, and scam warnings to help you navigate your debt smarter and safer.

DeVry University And Other For Profit Schools Really Sucked – $415 Million in Student Loans Forgiven

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Nearly 16,000 borrowers will receive $415 million in borrower defense to repayment discharges following the approval of four new findings and the continued review of claims. This includes approximately 1,800 former DeVry University (DeVry) students who will receive approximately $71.7 million in full borrower defense discharges after the U.S. Department of Education (Department) determined that …

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Student Loan Debt Strike is Cute But Ineffective

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Student Debt Strike, an online Reddit community, advocates for a mass student-debt strike as the best way to pressure Congress to grant wholesale student-loan forgiveness. I support this group’s goals. Economist Stephanie Kelton and others have argued persuasively that forgiving all federal student-loan debt would stimulate the economy. Relieved of burdensome student loans, more than …

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Who the Hell is Maximus – Aidvantage That Will be Swimming in Federal Student Loans

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On October 20 of last year, the Department of Education announced that Navient, a giant student-loan servicer, was turning its business over to Maximus, a government services company. [Ed: They will be providing services as Aidvantage.] DOE spokesperson Richard Cordray said this about the switchover: “We are confident this decision is in the best interest …

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Navient Stock Worth More Even After Private Student Loan Settlement

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Forty state attorneys general sued Navient Corporation for deceptive lending practices in its student loan business. Navient settled the lawsuits last week for $1.85 billion. The loan giant admitted no wrongdoing, saying the claims against it were “unfounded.” The participating states will split $145 million, and Navient will forgive 66,000 private student loans. In addition, …

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College In-House Lending Practices to Get CFPB Attention

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The Consumer Financial Protection Bureau (CFPB) announced it will begin examining the operations of post-secondary schools, such as for-profit colleges, that extend private loans directly to students. The CFPB is issuing an update to its exam procedures including a new section on institutional student loans. As the CFPB begins its supervision, the exam procedures inform …

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My Deep Dive Into What Navient’s Student Loan Settlement Agreement Actually Says

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There has been a lot of stories that have appeared about the Navient student loan settlement agreement that will forgive student loans but let’s look at what it actually says. The hype has been $1.7 billion in student loans will be forgiven but as always, the devil is in the details. The Attorney General settlement …

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Navient Sends People to Aidvantage Who Then Punts on Settlement Information

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People are so confused by the announcement of the giant Navient student loan $1.7 billion settlement. See my post on the announcement, here. Here is the reality, even the Aidvantage website is punting on what this actually means. The website says people need to go to NavientAGSettlement.com for information. I know you are looking for …

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Navient Enters Massive Student Loan Forgiveness Settlement. Details Clear-ish.

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It was announced today that many, but not all states that participated in a lawsuit against Navient in 2017. At the time Navient called the suit, “completely unfounded” but the announcements today reflect the opposite. Details of Settlement We have both a lot of information and a lot of unanswered questions about how all of …

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Why It Costs Way Too Much to Go to College

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During my years at the University of Houston, I parked my modest Honda in the faculty parking lot next to other modest cars driven by UH professors–mostly Hondas, Toyotas, Nissans, and Fords. Then I would walk through the parking lot reserved for administrators, and all the vehicles were luxury cars: Audis, Lexuses, BMWs, and expensive …

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Why the Government Can’t Forgive All Student Loans

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When Joe Biden was running for President, he said he would cancel $10,000 of every college borrower’s student debt if Congress consented. But Congress hasn’t acted. Senators Elizabeth Warren and Charles Schumer have urged President Biden to cancel $50,000 of every borrower’s federal student loans, saying he has the executive power to do so. But …

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