“It is so much money,” Jacqueline Wheelock said to me about the monthly payment amount she will soon be forced to pay for her student loans. Until last summer, she wasn’t thinking about this bill. Under the repayment plan known as SAVE (short for Saving on a Valuable Education), she could afford her payments, so she made them, month after month, never missing one or paying late. At the lowest…
Source
“I like debt for me,” said then-2016 presidential candidate Donald Trump. While defending himself against attacks by Hillary Clinton, Trump referred to himself as the “king of debt,” touting his classic business skills in renegotiating debts for his financial gain. Trump flipped the script on how many think about debt, which has long been held as a deep moral obligation to be paid in every account.
Source
President Donald Trump’s administration will start garnishing the wages of student loan borrowers in default beginning early next year, the U.S. Education Department said Tuesday. In an email, the department said it expects the first notices to be sent to roughly 1,000 borrowers in default the first full week of January and that the number of notices would increase each month.
Source
Washington — The U.S. Department of Education announced a proposed agreement Tuesday that would permanently axe an income-driven student loan repayment plan in which more than 7 million student loan borrowers are enrolled. Under a joint proposal with seven Republican-led states that challenged the program, the department would not enroll any new borrowers in the Saving on a Valuable…
Source