There are many reasons why a borrower or cosigner might wish to complain about their student loans. They want a solution to the problems they have experienced. They want to hold the lender or servicer accountable for their problems. There are several key steps to filing an effective complaint about a federal or private student loan.Read More
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College graduates worry that they will be stuck repaying their student loans for decades, even during retirement. The amount of time it takes to repay a student loan in full depends on the type of loan, the amount borrowed, the interest rate and the repayment plan the borrower selects, as well as the use of deferments and forbearances. Borrowers typically take no more than 16-19 years to repay their federal student loans.Read more
How education is funded and how students pay for it has changed significantly since the inception of the first American colleges. Postsecondary education was once free or very inexpensive, a far cry from the exorbitant sums now expected of students even at state universities. The student loan system that now saddles most students with significant debt is only 60 years old. The evolution of student loans has been attributed to a series of social and economic developments, from changing enrollment demographics to the Industrial Revolution to the World Wars.Read more
Federal student loan borrowers who are undergoing active treatment for cancer may defer repaying their Federal Direct student loans for the duration of treatment and for 6 months afterward. Interest does not accrue on any Federal Direct student loans during the active cancer treatment deferment, not even on unsubsidized Federal Direct Stafford loans.Read more
A study from Fidelity shows more parents are saving for college than ever before, but they are still confused about how 529 savings plans work. By missing out on these key benefits, including federal (and sometimes state) tax savings, and favorable financial aid treatment, they could be leaving money on the table.Read more
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Q&A with 529 Guru: Joe Hurley
Specialist Joe Hurley answers your questions.
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