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An Atlanta, Georgia man recently shared with Moneywise that he could’ve been stuck paying two car loans after GEICO approved a total loss payout on his stolen vehicle and then revoked it when it was found. Josh Peresta’s car was stolen from the Atlanta Hartsfield-Jackson International Airport while he was on a business trip in … Read more
The CFPB’s Student Loan Ombudsman has released his annual report, again emphasizing complaint volume without investigating all complaints, suggesting that states should acquiesce when the Department of Education promulgates rules that exceed its statutory authority, and blaming servicers for communications issues caused in no small part by the Department of Education’s failure to provide clear … Read more
The IMF’s executive board approved a $1.1bn disbursement to Ukraine as part of an ongoing loan programme to provide budget support. The approval on Friday bolsters Ukraine as it faces continued Russian attacks, and comes just over a month after staff at the International Monetary Fund completed the sixth review of an existing four-year program … Read more
The U.S. Education Department also moved Friday to rescind a proposed regulation that would have clarified the rights of transgender athletes. GOP-led states block Biden’s latest student debt relief plan Touted the most affordable student loan repayment plan ever, the SAVE plan would have provided debt relief to over 30 million Americans. The Biden administration … Read more
2-minute read Do college graduates have regrets about their chosen majors? With the rising cost of college, Americans currently owe nearly $1.8 trillion in student loan debt. What majors are worth the money? Around 55,000 public employees nationwide — individuals who work for federal, state, local, tribal government or a non-profit organization — could see … Read more
What the Federal Reserve does with interest rates matters, because those rates are often what lenders use as a baseline to decide how much they will charge to lend to the rest of us — individuals and businesses. But lenders have plenty of leeway when it comes to what interest rates they charge different folks. … Read more
A proposed ballot initiative to limit high-interest lending in Nevada has failed after supporters failed to gather enough signatures, but elements of the effort could be introduced during next year’s legislative session. In January, a nonprofit called Stop Predatory Lending NV filed an initiative petition that called for a ballot question creating a 36 percent … Read more
Biden’s administration posted notices to withdraw its broader student-loan forgiveness plans. The Education Department wrote that it still stands by the legality of the debt relief among lawsuits. The plans aimed to cancel some student debt for over 38 million borrowers. President Joe Biden’s administration has officially scrapped its unfinished rules for broad student-loan forgiveness. … Read more
The Education Department announced Friday that it was clearing loans for another 55,000 borrowers, but are you one of them? The Biden Administration said it approved $4.28 billion in additional student loan relief for 54,900 borrowers across the country. The announcement brings the total loan forgiveness from the administration to an estimated $180 billion, according … Read more
Today, the Biden-Harris administration announced another $4.28 billion in student loan forgiveness for nearly 55,000 borrowers in the Public Service Loan Forgiveness program. The latest debt cancellation news comes after years of challenges for the PSLF, recent payment pauses and legal disputes over student loan forgiveness. This wave of student loan debt relief is a … Read more