A Billionaire Just Pledged to Pay Off The Student Loans For This Entire Graduating Class

Billionaire investor Robert F. Smith announced in a commencement address at Morehouse College on Sunday that he would pay off the student loans of every member of the class of 2019, according to multiple reports. “On behalf of the eight generations of my family that have been in this country, we’re gonna put a little […]

Trump Administration Leaves Thousands of Students Hanging Over Loan Forgiveness

Five months ago, a federal court ordered the Department of Education and Secretary Betsy DeVos to provide defrauded students loan relief under a 2016 Obama-era rule. But more than 100,000 people are still waiting for action to be taken, as CNN reported. The rule, called Borrower Defense to Repayment, was introduced in 2016 after for-profit […]

Trump’s Budget Proposal Could Raise Costs, Increase Debt for Students

University student loans are in the crosshairs of President Donald Trump’s proposed fiscal year 2020 federal budget sent Monday to Congress. Cuts and other revisions in the federal student loan program are woven into a 10% decrease in funding for the Department of Education, totaling $62 billion or $7.1 billion less than the department’s allotted […]

Millennials Face $1 Trillion Debt as Student Loans Pile Up

More than a decade has passed since young Americans faced debt levels this high. Debt among 19 to 29-year-old Americans exceeded $1 trillion at the end of 2018, according to the New York Federal Reserve Consumer Credit Panel. That’s the highest debt exposure for the youngest adult group since late 2007. Debt levels play a […]