Susan Tompor Detroit Free Press Published 7:00 AM EDT Jul 25, 2019 Student loan debt is no doubt a drag on the U.S. economy, holding back how much money young consumers can spend on cars, homes and even invest in 401(k) plans or new businesses. But the debt crisis is giving an early kick start to the 2020 Democratic presidential race. One candidate after another has generated some buzz by offering up one freebie or another for tackling $1.5 trillion in student loan debt. The political rhetoric reflects the ongoing financial anxiety. So it wouldn't be surprising to hear more about student loans during the second round of Democratic Party presidential debates comes to Detroit on Tuesday and Wednesday, hosted by CNN. Dealing with old student loans has become so overwhelming for many families that it has now somehow risen to the level of, say, climate change or criminal justice reform. Why student loan debt is a hot topic Sure, … [Read more...] about Can 2020 o election help you shed student loan debt?
Plan 2 student loan
Hammond set to abandon deficit rule as spending plans and student loans add to borrowing
The Chancellor will be forced to abandon another of his borrowing rules because of high spending plans and the extra burden of student debt at his spring statement next month. Growth also risks slowing further, potentially harming tax revenues or prompting Philip Hammond to increase government spending. “There is an odds-on chance the Government will miss its fiscal mandate,” said Amit Kara at the National Institute for Economic and Social Research (NIESR), referring to the Chancellor’s target of holding the structural deficit at below 2pc of GDP in 2020-21. “I think the [spring statement] might be an occasion where he resets the fiscal rules and adjusts the targets. We don’t believe he will... To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one Premium article per week … [Read more...] about Hammond set to abandon deficit rule as spending plans and student loans add to borrowing
Government questions unfair student loan practices
By Ken Sweet Updated 7:13 pm PST, Thursday, November 22, 2018 FILE- This April 2, 2014, file photo, shows the headquarters of student loan debt collector Navient Corporation, in Wilmington, Del. One of the nation’s largest student loan servicing companies may have driven tens of thousands of borrowers struggling with their debts into high-cost repayment plans. That’s the finding of a Department of Education audit of practices at Navient Corp., the nation’s third-largest student loan servicing company. (William Bretzger/The News Journal via AP, File) less FILE- This April 2, 2014, file photo, shows the headquarters of student loan debt collector Navient Corporation, in Wilmington, Del. One of the nation’s largest student loan servicing companies may have ... more Photo: William Bretzger, Associated Press … [Read more...] about Government questions unfair student loan practices
Gov’t questions unfair student loan practices
Ken Sweet AP Business Writer Published 6:10 PM EST Nov 20, 2018 New York – One of the nation’s largest student loan servicing companies may have driven tens of thousands of borrowers struggling with their debts into higher-cost repayment plans. That’s the finding of a Department of Education audit of practices at Navient Corp., the nation’s third-largest student loan servicing company. The conclusions of the 2017 audit, which until now have been kept from the public and were obtained by The Associated Press, appear to support federal and state lawsuits that accuse Navient of boosting its profits by steering some borrowers into the high-cost plans without discussing options that would have been less costly in the long run. The education department has not shared the audit’s findings with the plaintiffs in the lawsuits. In fact, even while knowing of its conclusions, the department repeatedly argued that state and other federal authorities do not have … [Read more...] about Gov’t questions unfair student loan practices
Navient’s student loan practices raise questions in federal audit
NEW YORK - One of the nation's largest student loan servicing companies may have driven tens of thousands of borrowers struggling with their debts into higher-cost repayment plans. That's the finding of a Department of Education audit of practices at Navient, the nation's third-largest student loan servicing company. The conclusions of the 2017 audit, which until now have been kept from the public and were obtained by The Associated Press, appear to support federal and state lawsuits that accuse Navient of boosting its profits by steering some borrowers into the high-cost plans without discussing options that would have been less costly in the long run. The education department has not shared the audit's findings with the plaintiffs in the lawsuits. In fact, even while knowing of its conclusions, the department repeatedly argued that state and other federal authorities do not have jurisdiction over Navient's business practices. "The existence of this audit makes the Department of … [Read more...] about Navient’s student loan practices raise questions in federal audit