Federal loans for fintech lenders offered under bipartisan Bill Scott

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…

UK: Student Loan Interest Rates and Repayment Threshold Announced – India Education | Latest Education News | Global education news

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…

FOIA data reveals tons of “submarine borrowers” before repayment cliff

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…

Next step for student loans, not just on Biden’s legal capacity to cancel student loans

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…

Announcement of interest rates and the repayment threshold for student loans

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…

5 things you need to know about canceling your student loans under the PSFL program

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…