Financial technology (fintech) lenders could access some federal small business loans under bipartisan legislation introduced by US Senator Tim Scott (R-SC). The expansion of access to credit for small businesses, S. 2690, which Senator Scott sponsored on August 10 with the original principal cosponsor, US Senator John Hickenlooper (D-CO), would increase the criteria for Small…
The Department of Education (DfE) confirmed today (August 12, 2021) the annual updates of interest rates and thresholds for income-contingent student loans and mortgage-style student loans, as outlined in the regulations and general loan conditions. Student loans by income Undergraduate loans Student Loans by Income for Pre-2012 Loans (Plan 1) From September 1, 2021 to…
Federal data shows that despite the interest-free payment break allowing borrowers to find some breathing room during the pandemic, two-thirds of the nearly 430,000 student loan borrowers were still “underwater” – meaning that ‘they still haven’t been able to breach their original balance. the The data, obtained from the Department of Education (ED) by the…
The best personal loans offer competitive rates, flexible loan amounts, and a wide range of terms. Here’s how Upgrade Personal Loans stack up against other popular lenders: pushy vs. To improve Upstart and Upgrade are designed to be able to lend to borrowers with less than good credit. While the minimum recommended credit score requirement…
Booming students are getting ready to enter college this fall, which means it’s time to start thinking about borrowing student loans. Compare your options in this analysis. (iStock) Many young Americans go to college and while it is an exciting time for students and their families, it can be easy to lose sight of the…
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President Joe Biden (Photo by SAUL LOEB / AFP via Getty Images) AFP via Getty Images Don’t expect student loan cancellation just because President Joe Biden has the legal capacity to cancel student loans. Here’s what you need to know. Student loans After Biden extended student loan relief last week, Progressive Democrats are speculating that…
The Department of Education (DfE) confirmed today (August 12, 2021) the annual updates of interest rates and thresholds for income-contingent student loans and mortgage-style student loans, as outlined in the regulations and general loan conditions. Student loans by income Undergraduate loans Student Loans by Income for Pre-2012 Loans (Plan 1) From September 1, 2021 to…
Federal student loans without interest are fast becoming an alternative to forgiveness of student loans. Read on to learn more about the Loans Act and what it would mean for your federal student loan repayment. (iStock) As lawmakers debate how best to handle the student loan debt crisis, Senator Marco Rubio, R-FL, has reintroduced a…
The bottom line: SoFi is a great lender for borrowers who want competitive APRs and a safety net in the event of job loss. It’s also a great lender for those who don’t want to worry about fees. Advantages and disadvantages SoFi Undergraduate Student Loans Regular APR Variable: 1.11% – 11.22%, Fixed: 3.49% – 10.66%…
Getty Images In 2007, the Bush administration signed the Cost Reduction and Access to Colleges Act which was created to ease the financial burden on low-income students, reduce borrower student debt interest rates, support historically black colleges and universities, but also ensure that borrowers who worked in professions of the service public benefit from a…