Latest Student loans News

Former ITT Tech students get $3.9B in debt cancellation

Aug. 16, 2022 12:26 PM EDT

WASHINGTON (AP) — Students who used federal loans to attend ITT Technical Institute as far back as 2005 will automatically get that debt canceled after authorities found “widespread and pervasive misrepresentations” at the defunct for-profit college chain, the Biden administration announced...

Editorial Roundup: Michigan

Aug. 15, 2022 07:14 AM EDT

Detroit News. August 8, 2022. Editorial: GOP should pass on compromised DePerno Matt DePerno was never the best choice for Republicans to unseat Attorney General Dana Nessel in the November election. He was awarded the state party’s endorsement in April at a...

How the Federal Reserve's rate hikes affect your finances

Jul. 27, 2022 18:04 PM EDT

WASHINGTON (AP) — Higher mortgage rates have sent home sales tumbling. Credit card rates have grown more burdensome, and so have auto loans. Savers are finally receiving yields that are actually visible, while crypto assets are reeling. The Federal Reserve's move Wednesday to...

What to know about public service loan forgiveness

Jul. 08, 2022 16:08 PM EDT

NEW YORK (AP) — More than 145,000 U.S. borrowers have had the remainder of their student loan debt canceled through the Public Service Loan Forgiveness program, and officials say many more likely qualify. The Public Service Loan Forgiveness program, launched in 2007 to steer more...

Work at a school or nonprofit? You could erase student loans

Jul. 08, 2022 13:53 PM EDT

NEW YORK (AP) — When Melissa Martinez applied to have her student loan debt forgiven more than a decade ago, the U.S. Department of Education told her she was ineligible. Martinez, a professor, tried again this past year and managed to erase the last $6,000 she owed for her...

More flexibility proposed for student debt forgiveness

Jul. 06, 2022 16:50 PM EDT

New rules proposed by the Biden administration on Wednesday would make it easier for borrowers to get their federal student debt forgiven through several existing programs. The action is intended to overhaul relief programs that have been criticized for their burdensome paperwork...

Settlement would forgive $6B for defrauded college students

Jun. 23, 2022 16:37 PM EDT

The Biden administration has agreed to cancel $6 billion in student loans for about 200,000 former students who say they were defrauded by their colleges, according to a proposed settlement in a Trump-era lawsuit. The agreement filed Wednesday in San Francisco federal court would...

This is how a higher Fed rate could affect your finances

Jun. 15, 2022 16:46 PM EDT

WASHINGTON (AP) — Record-low mortgages are long gone. Credit card rates will likely rise. So will the cost of an auto loan. Savers may finally see a noticeable return. The unusually large t hree-quarter point hike in its benchmark short-term rate that the Federal Reserve announced...

Debt wiped for Corinthian students as bigger decisions loom

Jun. 02, 2022 17:51 PM EDT

WASHINGTON (AP) — As college graduates wait to see whether President Joe Biden will wipe out some of their student loan debt, his administration is taking a more limited step to address a fraud scandal at Corinthian Colleges, a for-profit chain that collapsed nearly a decade ago. ...