Existing Student Debt

Tax penalty hits student loan borrowers in income-driven repayment plans for the first time

19 April 2018

Some student loan borrowers will be facing a larger tax bill this year due to a flaw in policy that taxes forgiven student loan debt as income. Diane Cheng of TICAS explains why this unfair tax penalty is placed upon some borrowers in income-driven repayment (IDR) plans, and why policymakers need to fix this policy.

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5 Facts About the Proposed Student Loan Repayment System

19 April 2018

The Department of Education is about to move forward with a new student loan repayment system that will dictate how borrowers repay their loans for decades to come.
Colleen Campbell of the Center for American Progress breaks down the five things you need to know about the big changes coming to Federal Student Aid.

Blog, Existing Student Debt

Our Support for the Student Borrower’s Bill of Rights in Massachusetts

10 April 2018

At a time when student loan servicers are seeing their interests protected by Education Secretary Betsy DeVos and Congress—above the interests of individual consumers and student loan borrowers—a Student Loan Bill of Rights at the state level is absolutely necessary.

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Senate Banking Deregulation Bill Leaves Scraps for Student Loan Borrowers

3 April 2018

In March, 2018, a bipartisan coalition of Senators passed a controversial bill that would rollback key financial reforms put in place after the Great Recession. While loosening rules on banking practices that contributed to the financial crisis of 2008, the bill’s proponents argue that they included “consumer protections” for the U.S.’s 44 million student loan borrowers.
However, the Consumer Federation of America concludes that these touted-protections will actually do very little to help those with student debt.

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Simpler Isn’t Always Better for Student Loan Borrowers

27 March 2018

Young Invincibles’ Tom Allison examines how the re-designed student loan repayment plan proposed in a package of higher education reforms – known as the PROSPER Act – would affect borrowers’ ability to manage their loans. The findings, however, show that the new “streamlined” repayment plan would actually cost borrowers more on their loans over time.

Blog, Existing Student Debt

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