Sallie Mae’s stock is on the rise after Bank of America initiated coverage with a Buy rating, citing the company’s strong market position, growth potential, and efficient business model. The bank believes Sallie Mae is well-positioned to benefit from increasing college enrollment, rising tuition costs, and competitors exiting the market. However, the bank also acknowledges some risks, including regulatory scrutiny and competition from firms offering lower interest rates.
A federal judge has temporarily blocked the Biden administration’s latest student debt relief plan, a decision that could benefit student loan providers like SoFi, Navient, and SLM. The ruling comes after a lawsuit filed by seven Republican-led states, who argued the Education Department lacked the authority to cancel student loans.
The Free Application for Federal Student Aid (FAFSA) is a crucial tool for U.S. students seeking financial assistance for college. This guide explains how to fill out the FAFSA, providing a step-by-step process and key information about eligibility, deadlines, and the different types of aid available.
The student loan crisis in the US continues to escalate, with soaring tuition costs forcing students to rely heavily on loans. This article delves into common mistakes that contribute to inflated student loan balances and offers valuable insights on avoiding these pitfalls to navigate the debt effectively.
Three GOP-led states, Alaska, Texas, and South Carolina, are appealing to the Supreme Court to halt the implementation of President Biden’s SAVE plan for student loan relief. This plan aims to lower monthly payments and provide a path to forgiveness for millions of borrowers. The states argue that the SAVE plan is unlawful and that the Biden administration is flouting the Supreme Court’s previous ruling on student loan debt cancellation. The Supreme Court could grant emergency intervention and block the plan, potentially delaying its implementation.
Education Secretary Miguel Cardona faced questions from Congress about whether taxpayers will be footing the bill for student loans of anti-Israel agitators who disrupt college campuses. House Education and the Workforce Committee Chair Rep. Virginia Foxx raised concerns about students who engage in harassment, disruption of classes, and law-breaking, highlighting the need for accountability and ensuring that taxpayer funds are not supporting such behavior. The hearing also addressed issues with the rollout of a new federal student aid form (FAFSA) that has caused delays and glitches, affecting college decisions and financial aid offers.
The US Department of Education has begun transferring over 1 million student loan borrowers from Mohela to different loan servicers. Mohela had been facing controversy and criticism for its handling of loan servicing, including failing to send timely billing statements and causing delinquencies for hundreds of thousands of borrowers. The Education Department has withheld millions in payments to Mohela for its errors. Amidst the transition, borrowers will receive alerts from both Mohela and their new servicer. They will need to establish an online account with their new servicer and may need to reenroll in automatic payments to receive the discounted interest rate.
The Biden administration has rolled out over a dozen new initiatives and rules in a frantic attempt to boost its chances in the upcoming midterm elections. According to a new CNN poll, Trump is leading the president by six points, one of the biggest gaps yet. The survey also shows Trump inching ahead in several critical swing states.
The Biden administration’s flurry of activity includes new FTC rules that ban non-compete agreements, a re-write of Title IX, EEOC charges of racism against a company for avoiding hiring criminals, and more federal help on student loans.
Critics say the White House is panicked and that its policies are not well-thought-out. The Trump administration employed a similar strategy in its final months, ditching several policies rolled out late in President Obama’s second term. Biden returned the favor when he came to office.
The escalating cost of education is a growing concern, with sticker prices consistently outpacing inflation. The author argues that colleges and universities must be required to control their expenses and that forgiving existing student loans will only provide a temporary solution. Instead, they propose tying annual tuition increases to the rate of inflation and restricting federal loan eligibility to schools that adhere to these criteria.
Australian student loan debts are poised to rise by a substantial 4.8% in 2023, translating to an average increase of $1,272 for those holding Higher Education Loan Program (HELP) debts. This annual increase is driven by indexation, which adjusts debts based on inflation. The latest calculation, conducted by the Parliamentary Library for the Greens, projects that HELP debts will rise significantly as the March quarter inflation data indicates.
