Credit score impact from student loan collections, default

Credit score impact from student loan collections, default

As of Monday, the U.S. Department of Education is restarting “involuntary collections” on federal student loans that are in default, which may seriously damage the credit scores of millions of borrowers. Student loan collections efforts have largely been on pause since the pandemic began in March 2020. A new analysis by TransUnion found that consumers who faced default in…

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International students rethinking U.S. college plans amid visa policy shift

International students rethinking U.S. college plans amid visa policy shift

The Department of Homeland Security restored the legal status of thousands of international students who had their visas revoked, according to reports Friday. College experts largely applauded the move, which was prompted by court challenges and lawsuits filed by affected students and their lawyers, as a win for students and higher education overall, but the…

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Consumer Financial Protection Bureau staff to work remotely, HQ shuttered

Consumer Financial Protection Bureau staff to work remotely, HQ shuttered

Office of Management and Budget (OMB) Acting Director Russell Vought speaks with reporters during a press briefing at the White House in Washington, U.S., March 11, 2019. Jonathan Ernst | Reuters Consumer Financial Protection Bureau employees were told Sunday to work remotely because their Washington, D.C., headquarters would be closed through Feb. 14, according to…

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Fed’s Powell has had no contact with Trump after president said he’ll demand rates drop

Fed’s Powell has had no contact with Trump after president said he’ll demand rates drop

Federal Reserve Chair Jerome Powell said Wednesday he has not spoken to President Donald Trump since the newly inaugurated president told business leaders he would demand the central bank lower interest rates. Speaking after the Fed’s decision to hold interest rates steady, Powell said he has had “no contact” with the president since Trump’s remarks…

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