According to a recent report by the Institute for College Access and Success (TICAS), the 2020 class of college graduates has amassed $136 billion in private student debt. When this amount is added to the total student debt from federal student loans–about $1.8 trillion, Americans are on the hook for almost $2 trillion in student … Read more
If you are thinking about going to law school, you should read a recent report titled “Student Debt: The Holistic Impact on Today’s Young Lawyers.” According to the ABA’s Young Lawyers Division, 90 percent of young lawyers who responded to an ABA survey said they had taken out student loans to finance their legal education. … Read more
More than one hundred public interest groups sent a letter to President Biden this week urging him to cancel all student debt. How much are we talking about? Close to $2 trillion. I will say upfront that I support wholesale student-loan forgiveness. As numerous studies have pointed out, burdensome student debt has kept millions of … Read more
The student loan repayment process may have a varied start date, depending on the type of loan you have borrowed. Most federal student loans have a six month grace period in which borrowers are not required to make payments on their student loans. The terms on private student loans are set by individual lenders, and … Read more
Aidvantage is the fictitious name of the registered company Maximus Education LLC. It was recently announced Aidvantage would take over the servicing and maintenance of federal student loan accounts currently managed by Navient. Navient currently says, “This winter, Aidvantage will begin servicing your student loans owned by the Department of Education (ED) instead of Navient.” … Read more
Most of us know that you can apply for grants and scholarships to help offset the cost of college, but can you get a grant to pay off student loans once you’ve already graduated? In short, kind of! Whether you didn’t get enough financial aid or simply bit off more than you could chew repayment-wise, … Read more
Navient has announced federal student loans they service, well not all of them, will be transferred to a company named Aidvantage that is part of Maximus Education, LLC. Navient says, “Aidvantage is the federal loan servicing unit of Maximus Education, LLC, a company that has one mission – to help you manage the repayment of … Read more
When we go on vacation, most of us sleep late, basking in the luxury of rising in the morning whenever we wish. Then our vacation ends, and we have to set our alarm clock again. And we find it damned difficult to pop out of bed at 6 AM to get to work on time. … Read more
Vista College, a chain of for-profit college campuses, closed and went bankrupt a few days ago. Most Vista campuses are in Texas, but the chain filed its bankruptcy proceedings in Delaware. Who Owns Vista College? Education Futures Group (EFG), a Chicago-based private equity firm, holds a majority interest. Jim Tolbert, Vista’s CEO, owns 16.7 percent. … Read more
In response to the COVID pandemic, the Department of Education allowed student-loan debtors to skip their monthly loan payments without penalty until September 30, 2021. That pause was recently extended to January 30, 2022. Thanks to the Department’s forbearance, millions of college-loan borrowers are enjoying a respite from making loan payments, knowing that DOE will … Read more