Latest Student financial aid News

Trump signs student debt forgiveness for disabled veterans

Aug. 21, 2019 6:16 PM EDT

LOUISVILLE, Ky. (AP) — Hundreds of millions of dollars in federal student loan debt owed by tens of thousands of disabled military veterans will be erased under a directive President Donald Trump signed Wednesday. Trump ordered the Education Department to "eliminate every penny of federal student loan...

Trump appoints student loan industry exec to watchdog job

Aug. 16, 2019 3:41 PM EDT

NEW YORK (AP) — The Trump administration has hired a longtime student loan industry executive to be the federal government's top watchdog for the $1.5 trillion student loan market. Robert Cameron will serve as the Consumer Financial Protection Bureau's new student loan ombudsman, the bureau said Friday....

Million-dollar opioid drug ring started small, No. 2 says

Aug. 15, 2019 4:52 PM EDT

SALT LAKE CITY (AP) — A man who prosecutors call the second-in-command of a multimillion-dollar online opioid drug ring said Thursday the operation started small, when he needed cash for student loans so he let his roommate sell his prescription Adderall. Drew Crandall, 33, said the dark-web operation run...

UofL trustees approve university's plan to purchase hospital

Aug. 14, 2019 4:36 PM EDT

LOUISVILLE, Ky. (AP) — University of Louisville trustees approved a deal Wednesday to have the school purchase financially ailing Jewish Hospital in a transaction that officials said will benefit the region's health care and the school's medical training and research programs. State leaders stepped up to...

Consumer credit up $14.6 billion, slowest in 3 months

Aug. 7, 2019 3:21 PM EDT

WASHINGTON (AP) — Consumer borrowing slowed in June to the smallest increase in three months as a jump in auto loans and student loans was offset by a big drop in borrowing on credit cards. Overall consumer borrowing increased by $14.6 billion in June after a $17.8 billion advance in May, the Federal...

Loophole allows families to get aid meant for needy students

Jul. 30, 2019 8:46 PM EDT

The U.S. Education Department is being urged to close a loophole that has allowed some wealthy families to get federal, state and university funding that's meant to help needy students. Federal authorities were notified last year that some parents in Illinois were transferring custody of their children to friends...

Feds find potential fraud in student loan repayment plans

Jul. 25, 2019 6:50 PM EDT

Tens of thousands of federal student loan borrowers may be getting their monthly payments lowered by lying about their income and family size, yet the U.S. Education Department is doing little to catch them, according to a report released Thursday by a federal watchdog agency. Among the most extreme cases...

Is your debt 'good' or 'bad'? It depends

Jul. 25, 2019 10:51 AM EDT

Are student loans good debt that can open the door to a career or an insurmountable burden? Is all credit card debt a sign of reckless spending, or can it be a smart way to cover an expense? In general, no form of debt is inherently "good" or "bad." What makes it good or bad is how it fits into your overall...

Will a summer job burn your financial aid for college?

Jul. 18, 2019 10:31 AM EDT

Roughly one-third of teenagers have summer jobs, according to the Pew Research Center. Some of these jobs may make you very familiar with the letters "SPF." But every working student should know a different abbreviation to avoid getting burned: EFC. While you may be working to help pay for college, the money you...

Teachers union sues DeVos over embattled loan relief program

Jul. 11, 2019 6:37 PM EDT

One of the nation's largest teachers' unions sued the U.S. Education Department on Thursday over a federal program that promises to forgive student loans for public workers but has been beset by problems. The American Federation of Teachers filed a federal lawsuit in Washington alleging that the department has...