Rising interest rates are a boon to savers but a curse to borrowers. And just like mortgages and credit cards, next year’s student loans will have higher rates. Federal student loan interest rates are based on the 10-year Treasury yield at the May auction. That auction took place last week, so next year’s interest rates are set. Each loan type–…
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With December almost here, it’s time to get on year-end tasks. If you’re among the many who want a year-end to do list, here goes!
I’m guessing this isn’t the first time you’re hearing that the Biden administration is going to forgive $10,000 of federal student loans per borrower, or up to $20,000 for those who received Pell grants. The announcement was a little short on details about how this is going to happen, but it did clarify borrower relief in three areas: A final…
Public Service Loan Forgiveness is a great concept that suffers from terrible implementation. On the surface it sounds straightforward enough: Work 10 years in the public or non-profit sector, make payments on your student loan for those 10 years, and any balance remaining is forgiven. In theory, loan forgiveness after 10 years would make it possible for individuals to pursue…
The College Board’s annual Trends in College Pricing and Student Aid report was released recently. Among the headline findings: college tuition prices increased at extremely low rates for the second year in a row, reflecting both a combination of continued impacts of the pandemic and enrollment pressures from demographic trends. Average net prices, adjusted for inflation, are at the lowest…