student loans

Borrowers who have defaulted on their federal student loans will get a temporary reprieve from having their wages, Social Security benefits and tax refunds garnished by the federal government, U.S. Education Secretary Betsy DeVos announced on Wednesday. This break will last for a minimum of 60 days, beginning March 13.

On Friday, the U.S. Department of Education announced new K-12 and higher education policies in response to disruptions caused by the coronavirus.

Financial firms may be discriminating against people based on where they went to college, a watchdog group says. In particular, the group found that a lender named Upstart appears to be charging higher interest rates on student loans to graduates of historically black or predominantly Hispanic colleges.

A lot more people are getting loans these days from a new breed of lenders known as fintechs, or financial technology firms. And some of these lenders factor in where loan applicants went to college.

Public servants with student loans were furious, and the U.S. Department of Education heard them. The department revealed Thursday that it will simplify the process for borrowers to apply for an expansion of the troubled Public Service Loan Forgiveness (PSLF) Program.

It has been more than two years since the nation's most powerful financial watchdog examined the companies that manage about $1.5 trillion of federal student loans owed by 43 million borrowers.

On Thursday, two members of the Senate Banking Committee said they're exasperated with the Consumer Financial Protection Bureau's continuing failure to pursue mounting problems with the way student loans are handled.

Jill Schlesinger knows a thing or two about money — and the dumb ways people spend it.

Last year, the certified financial planner and CBS business analyst wrote the book “The Dumb Things Smart People Do With Their Money: Thirteen Ways To Right Your Financial Wrongs.”

Now, Schlesinger is back to share three of her top tips on how to spend your money the smart way.

Sen. Elizabeth Warren, D-Mass., has pledged to cancel up to $50,000 of debt for 95% of student loan borrowers if she is elected president. Sen. Bernie Sanders, I-Vt., has proposed an even more generous plan if he's elected.

Education Secretary Betsy DeVos endured a withering barrage of questions on Thursday about her handling of a program meant to provide debt relief to federal student loan borrowers who say they were defrauded by for-profit colleges.

"Madame Secretary, your refusal to process claims is inflicting serious harm on students," Rep. Bobby Scott, D-Va., said in his opening statement. "These defrauded borrowers have been left with piles of debt, worthless degrees and none of the jobs that were promised."

Documents obtained by NPR shed new light on a bitter fight between defrauded student borrowers and U.S. Education Secretary Betsy DeVos.

These borrowers — more than 200,000 of them — say some for-profit colleges lied to them about their job prospects and the transferability of credits. They argue they were defrauded and that the Education Department should erase their federal student loan debt under a rule called "borrower defense."

Updated Friday at 11:04 a.m. ET.

Lawmakers have called for an investigation into a troubled student loan discharge program one day after an NPR report revealed that the program — meant to erase the student debts of borrowers with significant, permanent disabilities — wasn't helping the vast majority of those who are eligible.

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