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The pandemic-era relief provided by the student loan payment moratorium ended in 2023, and by 2024, borrowers were back in the routine of paying their college debt — with interest.
Federal student loan debt increased 267.1% between 2006 and 2023, according to the Education Data Initiative. In December, the House introduced legislation to increase the deduction limit to ...
The Biden administration has started rolling out a series of programs and initiatives to lighten the burden of student loans and make the repayment process more equitable and manageable. For those ...
In 2024 the BBC estimated that around 1,8 million people in the UK are now in £50,000 or more in student debt stating upwards of 61,000 have balances of above £100,000, citing figures from the Student Loans Company (SLC) and stated another 50 people each owe upwards of £200,000.
However, borrowers with FFEL and commercially-held student loans may require direct loan consolidation in order to benefit from the relief. That must be done by May 1, 2023.
The average student borrows more than $30,000 to pay for a bachelor's degree, according to the Education Data Initiative. What's worse, it takes the average borrower about 20 years to pay off their...