Is $20K Student Debt Forgiveness Still Going to Happen?

No one knows for sure when — or if — student loan forgiveness is coming. As of now, you should plan for payments on your federal student loans to resume in January 2023, especially if you were counting on debt cancellation to erase your balance entirely. Why? A federal judge in Texas has struck down … Continued

Time’s Almost Up to Apply for Bigger Student Loan Forgiveness

Full student loan forgiveness could be closer than you think under temporary rules for Public Service Loan Forgiveness, or PSLF — but time is running out to apply. “They should rush to get this done because the program is far more inclusive than it’s ever been in the past,” says Kristen Ahlenius, an accredited financial … Continued

Unlock the College Financial Aid You Need Starting Oct. 1

Despite the headlines, college is still the surest path toward better lifelong earnings. But a degree is far more likely to pay off if you haven’t borrowed a small fortune to get it. The Free Application for Federal Student Aid, or FAFSA, is a key step in making college affordable. Applications for the 2023-24 school year … Continued

Are 0% Interest Student Loans Better Than $10K Cancellation?

Cancellation is the most popular proposal to address student loan debt, but it isn’t the only one out there. With the interest-free student loan payment pause in its third year, some wonder if 0% interest on student loans is a better answer. “I think this COVID pause has really illustrated — hopefully for policymakers but … Continued

5 Things to Consider When Picking a College in the COVID-19 Era

Colleges have faced innumerable challenges during the COVID-19 pandemic. And the way they’ve responded to those issues should influence how prospective students evaluate them. Online learning, strict campus rules and lingering economic concerns have left many students wondering if their college investment will be worthwhile. As a result, fall 2020 enrollment declined by 2.5% — … Continued

The FAFSA Just Opened: Why You Should Apply Now

An influx of college financial aid applications this year means that money could run out for students who don’t file early. Due to financial strain caused by COVID-19, nearly 40% of families that didn’t previously plan to apply for federal financial aid now expect to do so, according to a recently released survey from Discover … Continued

Will You Get a Refund If COVID-19 Closes Your Campus?

Many colleges are welcoming students back for in-person learning and dormitory living this fall semester. Looming over everything: Campuses could shut back down at any time. With COVID-19 cases still high, many colleges are developing shutdown contingency plans alongside their reopening arrangements. At the same time, the pandemic is fueling new debate about whether colleges should … Continued

Why Missing College This Fall Is a Bad Idea

As colleges figure out how to structure classes this fall, many students are questioning whether to enroll at all. The idea of taking a gap year might sound enticing, but returning students should think twice. Many colleges have official gap year or deferred enrollment policies for incoming freshmen. But returning students who choose to take … Continued

It’s Now Cheaper Than Ever to Borrow Money for College

Federal student loan interest just dropped to its lowest rate ever. The interest rate for undergraduate student loans disbursed after July 1 is 2.75%. It’s an almost 40% decrease from last year’s rate for 2019-20 loans, which was 4.53%. Graduate and PLUS loan interest rates are also at record lows: 4.30% and 5.30%, respectively. A … Continued

Student Loan Interest Rate Dropping to Historic Low

We don’t know exactly what college will look like in the fall, but student loans to get there just got cheaper. The interest rate on new undergraduate federal student loans will decrease to 2.75%, the lowest point on record, for the 2020-21 school year. That is a drop of 39% from 4.53% in 2019-20. The … Continued