Your Pulse On America: Live And Unfiltered
The Trump administration’s resumption of collection efforts on defaulted federal student loans has far-reaching consequences for delinquent borrowers. For starters, borrowers who are in default may have wages, tax returns and Social Security payments garnished. But involuntary collections could also have a “spillover effect,” which puts consumers at risk of falling behind on other debt repayments, according…
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…
After a five-year reprieve, the Trump administration will restart forced collections on federal student loans in default, which could include garnishing a portion of borrowers’ paychecks. With collections in place, the last piece of the student loan machinery has been turned back on, officially ending pandemic-era relief, which began when President Trump paused federal student…
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…
There are proposals from Republicans in Congress to increase the tax on large endowments, potentially to 14 percent, much higher than the 1.4 percent put in place eight years ago. Assuming a 10 percent return, that would leave Harvard with a tax bill of about $742,000,000, roughly equal to what it spent on financial aid…
In recent weeks, Elon Musk and his aides have gained access to many federal agencies’ systems and unknown amounts of data. Many readers have written in to share their fears that the agencies — and the personal data they possess on hundreds of millions of taxpayers — are now vulnerable. When people tinker with vital…
The U.S. Department of Education said in a statement on Tuesday morning that the memo sent to government agencies the day before calling for a broad pause on federal spending did not apply to federal student loans or Pell grants. That money will continue to flow, the statement said. “The temporary pause does not impact…
President Joe Biden is joined by Education Secretary Miguel Cardona as he announces new actions to protect borrowers after the Supreme Court struck down his student loan forgiveness plan, in the Roosevelt Room at the White House in Washington, D.C., on June 30, 2023. Chip Somodevilla | Getty This year, for the first time in…