If Navient is your loan servicer, you might want to pay a little more attention to what they're doing. In a court filing, Navient says that borrowers cannot count on Navient to "act in the interest of the consumer." Uh oh. [Bloomberg]
Is the government starting to pay attention? NY Fed President William Dudley recently said that growing student loans debt leads to fewer people owning homes, a reduction in consumer spending, and an erosion of colleges' and universities' ability to elevate lower-income students. Sounds about right. [NBC News]
What the hell is going on with Public Service Loan Forgiveness? Apparently, the Education Department suggested that borrowers approved for the program cannot actually rely on their approval letters to authorizing them to join the program, calling into question whether the government will make good on its promise to forgive loan debt after 10 years of qualifying public service. [NY Times]
Here’s some practical advice on how to manage and pay off your student loans. [Forbes]
A new Trump policy allows loan guarantee agencies to charge borrowers in default fees up to 16% of their loan balance—even when the borrowers promise to bring their accounts into good standing within 60 days—a major reversal from Obama era policy. [Forbes]
Tax season is in full swing. Here’s a quick breakdown of how your student loans could affect your taxes. [CBS New York]
Parents, beware of the possible consequences of co-signing onto your child’s student loans. You may be signing up for more than your bargained for. [The Washington Post]
Black Enterprise has some good advice for students about what to consider when it comes to paying for college. Advice applicable regardless of skin color. [Black Enterprise]
