A look at how long it takes law graduates to pay off student debt
LEGAL SCOOPS — Graduate school loans constitute most of the $160,000 average law student debt and 74% of law students have a law school debt to pay off. This debt includes their undergraduate debt, a major burden in law studies, the cost of the bar exams, and other expenses. U.S. Department of Education data shows how school…
Read More about A look at how long it takes law graduates to pay off student debtFederal student loan payment freeze is extended until May
SPECTRUM LOCAL NEWS — As we gear up to enter the new year, tens of millions of Americans are expecting some relief. President Joe Biden announced last week that he’s extending the pause on student loan payments through May 1. The loan forbearance, which started in March 2020 during the height of the COVID-19 pandemic, was set to…
Read More about Federal student loan payment freeze is extended until MayFederal student loan payments set to resume in February 2022
YAHOO!NEWS — President Biden is set to allow payments on student loans to resume, just as expanded child tax credits end, potentially putting millions of Americans in a financial bind just as COVID-19 cases are rising. Democrats passed the expanded child tax credit as part of their pandemic relief bill in March, resulting in a $300 monthly…
Read More about Federal student loan payments set to resume in February 2022How interest rate hikes will affect student loan borrowers
CNBC — The borrowing costs for student loans could get more expensive soon. With the economy recovering from the pandemic and inflation a growing concern, the Federal Reserve is looking at raising interest rates three times in 2022. Those increases will impact both federal and private student loan borrowers. Here’s what you need to know.
Read More about How interest rate hikes will affect student loan borrowersMore colleges remove loans from student aid packages to combat student debt
THE WASHINGTON POST — Ohio State University and Smith College are the latest institutions to try to spare another generation of undergraduates from shouldering an all-too-common burden: student debt. Starting next fall, the schools will take loans out of their financial packages and instead pour philanthropic dollars into more grant aid for undergraduates. The decision…
Read More about More colleges remove loans from student aid packages to combat student debtA look at White House student loan forgiveness initiatives
NPR — The Biden administration’s approach to student loan relief began with improving, extending or expanding a handful of programs that were already on the books. “We’re working really hard to get students the relief that they’re entitled to” through these preexisting programs, Undersecretary of Education James Kvaal told NPR on Friday. While it’s not loan forgiveness, Biden…
Read More about A look at White House student loan forgiveness initiativesABA calls on lawyers to join push to tackle the student debt crisis
ABA JOURNAL — Graduating from law school and starting a legal career should be an exciting and hopeful time. But for far too many, student debt causes apprehension and struggle. A 2020 ABA survey found the average debt for law school graduates has increased to more than $150,000—a staggering amount that affects their personal and professional lives…
Read More about ABA calls on lawyers to join push to tackle the student debt crisisStudent borrowers see first impact of Public Service Loan Forgiveness reform
NPR WAMU — In recent days, thousands of federal student loan borrowers have gotten a shock. When they go online to check their loan balances, they realize, suddenly, they are debt-free. This wave of loan discharges is part of the U.S. Department of Education’s overhaul of the Public Service Loan Forgiveness program. NPR’s Cory Turner reports.
Read More about Student borrowers see first impact of Public Service Loan Forgiveness reformHow eligible borrowers can apply for limited student loan forgiveness programs
FORBES — The biggest news in student loans over the past month has been the major changes to student loan forgiveness. President Joe Biden and the U.S. Department of Education announced sweeping change to the long-troubled Public Service Loan Forgiveness program that could result in hundreds of thousands of student loan borrowers getting total student loan…
Read More about How eligible borrowers can apply for limited student loan forgiveness programsVeterans struggle with student debt despite new relief programs
CNBC — Cerena Jones served in the U.S. Air Force from 2000 to 2005, and not long after used her G.I. Bill to attend Everest College in Dallas. Getting her associate’s degree in business administration, she hoped, would be the beginning of a long career. She soon realized, however, that the school had lied to her about…
Read More about Veterans struggle with student debt despite new relief programs