#student-loans

#student-loans

If you're a college freshman, congratulations! You're now likely financially responsible for yourself. While that can be exciting, it can also be nerve-wracking especially if you don't have a lot of money. You have the freedom to control your own budget. At the same time, you may have thousands of dollars in student loans. How do you make smart financial decisions so you have enough money to spend at school and don't graduate with more debt than you need?

Stephen Colbert Acts As Justice Sotomayor's Anger Translator: "This just sounds like racial profiling with extra steps."

Your $45K starting salary looked decent on paper until reality hit. The reality is that's the same $15/hour everyone was making in 2008. And it sucked then. Rent swallows half your paycheck before you even think about groceries. Student loans demand their monthly tribute like a financial overlord. And that emergency fund your parents keep mentioning? Please. This isn't an avocado toast issue. This is a laptop is required to function at work... even apply to work... issue.

President Donald Trump's administration doesn't want you to ask for forgiveness - it wants you to ask for loan repayment options. On Friday, the Department of Education announced it is expanding its ombudsman's office, which typically handled student-loan borrower complaints, to also focus on consumer education and ensure that borrowers "are better equipped to make careful borrowing decisions and responsibly manage their federal student loan debt," the press release said.

ED is covering up its attempts to make [the Office of Federal Student Aid] less responsive to millions of students, families, and borrowers who rely on the agency to lower the cost of attending college and protect them from loan servicer misconduct," the senators wrote. "We urge you to immediately act on our findings by streamlining the 'Submit a Complaint' process and restoring FSA's workforce so borrowers can get the help they need.

The majority of current college students-61 percent-surveyed recently say that several changes to the federal student loan system that became law earlier this summer will directly impact them, according to a new poll from U.S. News & World Report. The key changes that students expect to affect them include caps on how much students can borrow, the elimination of some income-based repayment plans and the end of Grad PLUS loans.

The anger argument against student loan forgiveness posits that because federal student loan forgiveness would incite anger among some individuals, it becomes incorrect to proceed with it. This represents an appeal to anger fallacy, where emotion substitutes for actual evidence in forming an argument. Simply put, it erroneously assumes that anger is a valid measure of correctness.

Anger does not prove that something is unfair. People can be angry about fair situations or unfavorable situations that are not as unfair as they desire.

The Public Service Loan Forgiveness Program has incentivised careers in the public sector, including work in hospitals, schools, local governments and nonprofits.

"It's been an evolution and the recognition that student loans are here to stay, and, quite frankly, that the student loan debt crisis is real," says Stacey MacPhetres, senior director of education finance for EdAssist by Bright Horizons, which offers tuition assistance and student loan repayment benefit plans.

"The student debt collection machine has been turned back on, and it could mean bad news for millions of borrowers later this summer."

TransUnion's analysis reveals a concerning trend: nearly two million student loan borrowers are at risk of defaulting this summer due to rising delinquency rates.

Nearly one in three federal student loan borrowers face the risk of default as delinquency rates reach alarming new heights, highlighting the urgent need for effective repayment strategies.

Millions of Americans are seeing their credit scores suffer now that the U.S. government has resumed referring missed student loan payments for debt collection.

The Department has not offset any social security benefits since restarting collections on May 5, and has put a pause on any future social security offsets.

The U.S. economy is currently experiencing challenges including rising grocery prices, student loan repayments, unpredictable inflation, and a tough job market, creating financial strain for many.

"When you're only getting a thousand dollars a month, and you've got rent and you've got utilities, I just can't pay that much," Glod told Business Insider.