By Paul Fain. The average student loan debt last year for graduates of four-year colleges who took out loans was $28,650, according to the latest version of an annual report from the Institute for College Access and Success (TICAS). The average amount was up $300, or 1 percent, from 2016. More...
Bankruptcy Trustee Sues Feds, Lenders Over ITT Loans
Universities face new tax over student loans
Government doubles student loan numbers
DeVos Gets Another Chance on Obama Loan Rule
By Andrew Kreighbaum. The Department of Education has until Oct. 12 to offer a stronger justification for delaying an Obama-era student loan rule issued to help defrauded borrowers. If it can't do so, the rule will take effect, a federal judge said Monday. More...
Education Dept. Blocked From Canceling Debt Collection Contracts
By Andrew Kreighbaum. A federal court last week blocked the Education Department's plans to cancel contracts with debt collection firms handling defaulted student loans. More...
New Data on Public Service Loan Forgiveness
By Andrew Kreighbaum. The Education Department received about 28,000 applications for Public Service Loan Forgiveness as of June 30 of this year but so far has approved just under 300 applications for loan discharge, according to new federal data released Wednesday. More...
New York AG Sues Debt-Relief Companies
By Andrew Kreighbaum. Telemarketers from several student loan relief companies falsely represented themselves as employees of the federal government and told borrowers they could not enroll in debt-relief programs like income-based repayment on their own, the New York attorney general alleged in a lawsuit filed in New York Supreme Court Thursday. More...
Study: Default Problem Worse Than Thought
By Andrew Kreighbaum. The federal government’s primary accountability rule for colleges and universities measures the loan defaults in a cohort of student borrowers within three years of entering repayment. More...
A Big Payout on Student Loans? There’s an App for That
By Andrew Kreighbaum. Mobile trivia app promises borrowers a chance to have debt paid. But game, which lets users pay for more chances at points and steers them to corporate partners, alarms some experts. Most users spend $4 a month, but company has imposed a limit of $2,500 a week. More...