PSLF changes coming to public service loan forgiveness borrowers

Big Changes Coming to Public Service Loan Forgiveness

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

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.

Buying a Home with Student Loans

Good news for Navigate clients: many lenders accept the monthly student loan payment estimates we run with you for DTI purposes. That way, we can help you avoid taking your loans out of COVID forbearance!

Student debt cancellation: What’s the hold up?

Over the past nine months, two questions have dogged the student debt cancellation conversation: does the President have the authority to forgive student debt without Congress, and—if so—how much should he forgive?

Student Loan Industry Continues to Fail Communities of Color

Student Loan Industry Continues to Fail Communities of Color

Report after report has shown that majority Black- and Latinx-communities to bear the greatest burden of student debt and its effects. In 2015, the CFPB documented the effects of the Great Recession on student debt in communities of color, “with many families seeing their net worth nearly cut in half.”

IDR Plans and Payment Caps: ‘Til PSLF Do You Part

Oftentimes, we and our clients have to correct mistakes made by loan servicers, and having your payment plan messed with can be one of the most detrimental. If your loan servicer tells you that you no longer qualify for your plan, they’re wrong. When you enroll in an IDR plan, it’s “‘til death do you part,” or—to put it in a more positive light—“‘til PSLF do you part.” Have no fear, give us a call, and we’ll help you ride the cap all the way there.

Lost in the Seas of Student Loan Payment Plans?

A new report from the government consumer watchdog finds that student loan servicers betrayed borrower’s trust, gave misleading and fraudulent advice, and withheld refunds when their mistakes were identified.

CFPB Pens Damning Report on Student Loan Servicers

A new report from the government consumer watchdog finds that student loan servicers betrayed borrower’s trust, gave misleading and fraudulent advice, and withheld refunds when their mistakes were identified.

Tell Your PSLF Story

Following the hearings in June, the Dept. of Ed. made a request for comments, an opportunity for borrowers pursuing PSLF to join the process. To amplify your voices, the Student Borrower Protection Center has partnered with a number of state and national organizations to collect borrower stories and send them on to Washington.

Back to School: College and Cost

What can we do to change the culture around student debt? First off, we need to start talking about it.