Entries by Joy Sorensen Navarre

Big Changes Coming to Public Service Loan Forgiveness

in , , , , ,

As borrowers make plans to resume making student loan payments in February, they may have questions about who will be servicing those loans. We learned earlier this year that two large student loan servicers—PHEAA and Granite State—would no longer service federal student loans. The former, through its subsidiary FedLoan, is responsible for all borrowers pursuing Public Service Loan Forgiveness, a program that has been under intense scrutiny throughout the student debt crisis. Just last month, yet another major servicer—Navient— announced that it would no longer manage federal loans, transferring them to another company.

Embattled Student Loan Servicers Are Jumping Ship

in , , , ,

As borrowers make plans to resume making student loan payments in February, they may have questions about who will be servicing those loans. We learned earlier this year that two large student loan servicers—PHEAA and Granite State—would no longer service federal student loans. The former, through its subsidiary FedLoan, is responsible for all borrowers pursuing Public Service Loan Forgiveness, a program that has been under intense scrutiny throughout the student debt crisis. Just last month, yet another major servicer—Navient— announced that it would no longer manage federal loans, transferring them to another company.

Don’t wait to “phone a friend” for student loan advice

in , , ,

For those pursuing PSLF, they’ve had the added benefit that these months of forbearance have counted toward their 120 qualifying payments required for forgiveness. The economy, however, remains fragile, and many are wondering what will happen as student payments resume in the coming months—not to mention the end of expanded unemployment benefits for millions of Americans.

So what’s the solution? Where do we go from here?