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Student Debt

All articles tagged with #student debt

Auto-Pay Expansion Seen as Backdoor Debt Cancellation
budgets-and-projections27 days ago

Auto-Pay Expansion Seen as Backdoor Debt Cancellation

The Education Department plans to quadruple the auto-pay interest discount to 1% through 2028, at an estimated cost of at least $5 billion, arguing it helps borrowers enrolled in auto-pay. Critics from the Committee for a Responsible Federal Budget call this “backdoor” debt cancellation that benefits borrowers already in repayment, question its legality, and warn it does not reduce monthly payments. They urge Congress to address the $100+ billion Pell Grant shortfall instead and advocate offsets or alternatives like the existing Repayment Assistance Plan.

via Committee for a Responsible Federal Budget|
#auto-pay#budgets-and-projections#education-policy
Young Americans Lose Faith in the American Dream, Says Mrs. Dow Jones
business1 month ago

Young Americans Lose Faith in the American Dream, Says Mrs. Dow Jones

Haley Sacks, known as Mrs. Dow Jones, argues the traditional American dream—long tenure at one job, maxing out a 401(k), homeownership, and retirement at 65—has ceased to exist for millennials and Gen Z. She pins it on a broken system, mounting student debt, inflation, AI reshaping entry-level work, and wages not keeping pace with living costs. As a result, younger generations seek time, freedom, and ownership, often pursuing side hustles (and even gambling) for wealth, though she cautions that investing remains the smarter path and warns that the house always wins.

via Business Insider|
#american-dream#business#gen-z
Democrats urge broad student-debt relief and a halt to defaulted-loan transfers to Treasury
politics1 month ago

Democrats urge broad student-debt relief and a halt to defaulted-loan transfers to Treasury

A coalition of Democrats led by Sen. Warren is pressing the Education Department to cancel debt for borrowers eligible under existing relief programs (including PSLF, disability discharges, and borrower defense), clear the backlog of income-driven repayment applications, and extend the pause on involuntary collections, while blocking the transfer of defaulted loans to the Treasury. They warn Trump-era changes set to take effect July 1—eliminating the SAVE plan and raising payments—could push more borrowers into default as millions are already in default or delinquent, risking reduced access to credit.

via Business Insider|
#debt-relief#default-crisis#politics
UK's top graduate laments broken job market after 500 applications
lifestyle2 months ago

UK's top graduate laments broken job market after 500 applications

A 21-year-old Kingston University digital media tech graduate, Khaled Sharif, who spent about $125,000 on his degree, says the UK job market is broken after applying to 500 roles since 2025 and getting fewer than 20 interviews with no offers. He broadened his search to sales and other fields he didn’t want, but results remained elusive; he’s considering Tesco part-time work or returning to Qatar, and has started a clothing brand Zoqué to combine his interests in fashion and photography, illustrating the high cost of degrees and the hiring squeeze driven by AI and cost pressures.

via Fox News|
#education#graduates#job-market
137K Private Student Loans Spotlight Risk as Federal Reform Looms
business2 months ago

137K Private Student Loans Spotlight Risk as Federal Reform Looms

A borrower with $137,000 in private student loans, who has paid about $200,000 over the years, struggles to secure relief after job loss. The piece highlights how high interest, capitalization, and limited relief options in private lending may worsen debt as Trump-era repayment changes are set to push more federal borrowers toward private lenders.

via Business Insider|
#business#mohela#private-student-loans
Gen Z Graduates Confront Job Market Challenges Amid AI and Scams
economy1 year ago

Gen Z Graduates Confront Job Market Challenges Amid AI and Scams

Recent Gen Z graduates face a divided job market, with those who graduated during the peak hiring years of 2021-2022 benefiting from low unemployment and good career progress, while newer graduates are struggling with higher unemployment, difficulty finding jobs, and financial hurdles like student debt and rising home prices, highlighting how graduation timing significantly influences long-term economic prospects.

via Business Insider|
#career-challenges#economy#gen-z