Fraud experts brought in over student loan allegations | BBC News

March 25, 2025March 24, 2025 ~ knjohn ~ Leave a comment

The education secretary has asked counter-fraud experts to lead an investigation into reports millions of pounds in student loans are being claimed by people with no intent to study.

It follows a report in the Sunday Times which says it found evidence of some individuals enrolling on degree courses at small colleges just to access loans, with no intention of paying them back.

Bridget Phillipson has called in the Public Sector Fraud Authority (PSFA) to coordinate the government’s response to the allegations and to support investigations already under way.

If You Qualify For Biden’s $10 Billion In Student Loan Forgiveness, You’ll Probably Know.

September 17, 2021 ~ knjohn ~ Leave a comment

Over the last nine months, the Biden administration has enacted nearly $10 billion in student loan forgiveness, using executive authority to modify or expand existing federal student loan relief programs.

Student loan borrowers have been clamoring for information about who qualifies, and how to obtain relief. But for the vast majority of borrowers who do qualify, no action is required. That’s because most of the covered student loan forgiveness initiatives will be implemented automatically, and borrowers will be notified by the Department of Education. In short, if you qualify, you’ll probably know.

Biden Could Extend Student Loan Relief Beyond September 30, Even If Unemployment Benefits And The Eviction Moratorium End | Forbes

July 13, 2021July 11, 2021 ~ knjohn ~ Leave a comment

Student loan payments may be delayed beyond September 30, even if unemployment benefits and the eviction moratorium are ending.

Here’s what you need to know.

Student Loans

Student loan borrowers, Sen. Elizabeth Warren (D-MA) and now some members of the U.S. Department of Education are all lobbying President Joe Biden to extend student loan relief beyond September 30, 2021. Currently, the following student loan relief is set to expire on that date:

Federal Student Loan Payments Officially Suspended Until 2021: 0% Interest, No Collections, And Nonpayments Count Toward Forgiveness | Forbes

August 24, 2020August 23, 2020 ~ knjohn ~ Leave a comment

U.S. Secretary of Education Betsy DeVos today implemented President Trump’s memorandum extending relief on federally held student loans to borrowers through the end of the year. Her actions also addresses collections on defaulted loans and whether non-payments during this time will qualify for forgiveness under an income-driven repayment plan or the Public Service Loan Forgiveness program. Here’s what we know.

Presidential Memorandum on Student Loan Relief

The CARES Act passed earlier this year suspends payments on federally held student loans until September 30, 2020. During this time, collections on defaulted loans were halted, and the non-payments counted toward the 120 payments required by the Public Service Loan Forgiveness (PSLF) program and as payments required for other forgiveness under an income-drive repayment plan.

Student Loan Servicers Are Dinging Credit Reports For The CARES Act Forbearance | Forbes

May 20, 2020 ~ knjohn ~ Leave a comment

Robert P., a student loan borrower from Queens, New York, was surprised to find out that this credit score had dropped by 100 points after his federal student loans serviced by Great Lakes Higher Education were automatically placed into a forbearance. This happened following passage of the CARES Act. Another borrower named Ashley Higgins experienced a credit score drop during the same time period and told a local news affiliate about what happened. Other borrowers (who wished to remain anonymous) have reported similar credit score hits, as well.

Here’s Everything That’s Happened With Your Student Loans In 2 Weeks | Forbes

April 3, 2020 ~ knjohn ~ Leave a comment

There’s so much happening right now with your student loans.

Here’s what you need to know – and what to do about it.

Student Loans

In case you missed it, there have been major changes regarding your student loans. President Donald Trump signed the CARES Act, which includes a $2 trillion stimulus package in response to the Coronavirus health emergency. Among other benefits, the CARES Act has major implications for the way you pay your student loans, think about student loan forgiveness, and manage your money during Coronavirus. Fortunately, let’s make it easy for you and put all the updates in one place so you’re up to speed. Here are the major changes:

A Coding School Tuition Model Spreads to 4-Year Colleges | WIRED

February 19, 2020 ~ knjohn ~ Leave a comment

One day in 2017, Lauren Neuwirth sank into a chair in her university’s financial aid office feeling out of options. She was finishing her second year at Purdue University in Indiana, a school she’d chosen for its top-ranked engineering program. Neuwirth, who grew up near Milwaukee, was working two jobs to cover her living expenses and quickly running through the money her mother had set aside for college. Federal student loans only covered some of Purdue’s pricey out-of-state tuition. She worried that to remain in school she’d have to take out expensive private loans or join the Army.

Trump Calls For End To Student Loan Forgiveness Program

February 12, 2020February 11, 2020 ~ knjohn ~ Leave a comment

President Trump wants to end a popular student loan forgiveness program.

Here’s what you need to know.

End Student Loan Forgiveness

Trump’s new annual budget calls for several changes to student loans, which are part of a $5.6 billion cut in funding to the U.S. Education Department. As in previous years, Trump repeated his call to end public service loan forgiveness. Under Trump’s proposed budget, if passed by Congress, the Public Service Loan Forgiveness program would be eliminated.

Student Loans Stunting Small Business Growth | Business News Daily

July 17, 2015 ~ knjohn ~ Leave a comment

Student loans aren’t just negatively impacting you financially; they’re also hurting your chances of starting a new business, research finds.

Entrepreneurship is significantly hampered in parts of the country where residents carry more student loan debt, according to a recently updated study by researchers at Pennsylvania State University and the Federal Reserve Bank of Philadelphia.

For the study, student loan debt across the United States was analyzed by county and compared with small business creation in those areas. Researchers discovered that between 2000 and 2010 a one standard deviation increase in student debt reduced small businesses in those counties by an average of 14 percent.