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Student Loan News

Below is the most up-to-date student loan news. To receive email updates, join our email newsletter below:

12/22/2021
Student Loans Extended... Again!

"This is the last time we are extending it," said Joe Biden about student loans starting February 1st 2022.  Today, the administration decided to go back on their word (which they reitterated just last week) and extend this date to May 1st.  In the same speech, Joe Biden declared the economy is doing great then said they needed to extend the loans again because the economy is doing bad.

At this point, nobody has any clue what this administration is going to do, i.e. repayment will start again in May or it won't, loan forgiveness, etc... 

Click here for the official announcement.

12/16/2021
Recertifying IDR & IDR Payments for 2022

The Biden Administration announced that for those borrowers that were on IDR prior to the COVID Forbearance, the earliest they would have to recertify their income is August 2022.

In addition, anyone needing to certify their income, i.e those that weren’t on the plan prior to COVID (for example, you recently graduate), instead of providing tax returns, you can state your income through July 2022.

Click here for the official announcement.

12/15/2021
Interest Rates Are Rising: Don't Wait To Refinance

The Federal reserve announced today that they will begin tapering.  What this means is that interest rates will rise. 

Therefore, do not wait to refinance student loans.

Tips:

1) Get free expert help and refinance tips by visiting this page.
2) Check out the best student loan refinance companies. 

12/14/2021
Biden Still Plans To Restart Federal Student loan Payments In February

The Biden Administration announced that it has no intention of extending the COVID forbearance again.  In addition, they reiterated that they stand by ready to forgive $10,000 in student loans but it has to be passed by Congress.

Read more here.

10/22/2021
Granite State Borrowers Being Transferred To Edfinancial Services

Granite State will no longer be servicing loans for the Federal government.  Any borrower that has Granite State is being transferred to Edfinancial services.

Read more here.

10/20/2021
Maximus To Replace Navient As Student Loan Servicer

Navient will no longer be servicing loans for the government.  If you have loans with Navient, they will be transferred to Maximus.

Read more here.

8/11/2021
Senate Bill Proposes No-Interest Federal Student Loans

Senator Marco Rubio (R-Fl) introduced a bill that would permanently make interest rates on Federal student loans 0%.

The only thing you need to know is that is has 0% probability of passing. 

7/8/2021
PHEAA Cuts Ties With Education Department

PHEAA (AKA Fed Loan Servicing) will no longer service loans for the Federal government.

Stay tuned for more updates