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History. The Student Borrower Protection Center was founded in late 2018 by Seth Frotman, former student loan ombudsman at the Consumer Financial Protection Bureau; Mike Pierce, former lead higher education and consumer protection adviser at the bureau; and Bonnie Latreille, a former advisor to Frotman at the bureau.
Debt and delinquencies could rise. About 40 percent of borrowers missed their first student loan payment in October 2023, according to the Department of Education. Though late or missed payments ...
Millions of borrowers are required to make their monthly student loan payment for the first time in three-plus years in October, but there are several repayment plans available that could make the ...
The resumption of student loans -- after a three-year hiatus and following the Supreme Court's striking down of President Joe Biden's forgiveness program in June -- started in October for millions ...
In the United States, student loans are a form of financial aid intended to help students access higher education. In 2018, 70 percent of higher education graduates had used loans to cover some or all of their expenses. [1] With notable exceptions, student loans must be repaid, in contrast to other forms of financial aid such as scholarships ...
There are income-sensitive repayment options available to U.S. federal student loan borrowers, allowing Federal Family Education Loan Program borrowers decide what percentage of their income their loan payment will be. [1] The borrower selects a monthly payment amount between 4–25% of his or her monthly income.
Borrowers can sign up for the new Saving on A Valuable Education (SAVE) income-driven repayment plan with their loan servicer or directly on the Federal Student Aid website, StudentAid.gov.They ...
Nearly 153,000 student loan borrowers currently enrolled in a new repayment plan launched by the Biden administration are expected to get an email Wednesday notifying them that their remaining ...
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