Latest Student loans News

FILE - In this Oct. 24, 2019, file photo students walks in front of Fraser Hall on the University of Kansas campus in Lawrence, Kan. Student loan borrowers with federal debt won’t see a bill until January 2021. That means three extra months of paused payments tacked onto the original six months made possible by the coronavirus relief package. (AP Photo/Orlin Wagner, File)

What No Student Loan Payments Until 2021 Means for You

Aug. 13, 2020 7:46 AM EDT

You don’t have to make another federal student loan payment in 2020. Now is the time, though, to decide what to do before your bill arrives in January 2021. Federal student loan borrowers were already in an automatic interest-free pause on payments as part of the original coronavirus relief bill, known as...

FILE - In this Friday, June 1, 2018, file photo, graduates are silhouetted against the green landscape as they line up to receive their diplomas at Berkshire Community College's commencement exercises at the Shed at Tanglewood in Lenox, Mass. Some lenders advertise their products as a way to pay for college, but these aren’t technically student loans. For unsuspecting students, that could lead to unnecessarily high costs and a lack of consumer protection. (Gillian Jones/The Berkshire Eagle via AP, File)

‘Shadow’ lenders can leave college students in the dark

Jul. 20, 2020 12:33 AM EDT

A new high school graduate may take out about $37,200 in student loans for college, according to a recent NerdWallet study. And for many of them, that won’t be enough. Thirty-eight percent of students borrow additional money for college via credit cards, home equity loans and other non-student loans,...

Education Secretary Betsy DeVos speaks at a press conference with Vice President Mike Pence in Tiger Stadium, on the LSU campus, in Baton Rouge, La., Tuesday, July 14, 2020. (AP Photo/Gerald Herbert)

23 AGs sue DeVos over student loan forgiveness policy

Jul. 15, 2020 5:17 PM EDT

Democratic attorneys general in more than 20 states sued Education Secretary Betsy DeVos on Wednesday, seeking to repeal her overhaul of a student loan forgiveness program. Congress voted to strike down her policy, which makes it more difficult to get federal student loans erased, but President Donald Trump...

FILE - This Aug. 11, 2019 file photo shows Visa credit cards in New Orleans. When used responsibly, credit cards are a way to build credit history, but they’re not for everyone. Consumers with little to no credit history, or those who have bad credit, may not qualify for cards with reasonable and affordable terms. (AP Photo/Jenny Kane, File)

Millennial Money: Is it OK to never have a credit card?

Jul. 14, 2020 7:51 AM EDT

Thanks to quick online applications and, in some cases, instant approval, credit cards make it as easy to build your credit history as it is to make purchases. But they can also make it easy to fall into debt if you struggle to pay on time or tend to spend more than you have. As a result, some people regard...

FILE - In this May 20, 2020 file photo a runner passes through an arch on the campus of Boston University, in Boston. COVID-19 has disrupted the plans of an estimated 3 million returning college students. Due to the pandemic’s financial and psychological stressors, some students are debating whether they should sit out this fall. While taking time out from school during the pandemic might seem like a safe choice, it could have lasting consequences.  (AP Photo/Steven Senne, File)

Why Missing College This Fall Is a Bad Idea

Jul. 2, 2020 8:16 AM EDT

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...