A federal appeals court has allowed the U.S. Education Department to move ahead with a plan to lower monthly payments for millions of student loan borrowers, putting on hold a ruling last week by a lower court. The ruling puts back on track a central part of President Joe Biden's efforts to address student debt — a rule that lowers from 10% of discretionary income to 5% the amount that some borrowers qualifying for a repayment plan need to pay. https://yhoo.it/3XGkJgS
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Big news from the U.S. Department of Education! They've just announced significant changes to the interest rates on federal student loans for the 2024-2025 academic year. This is vital information for current and prospective students, parents, grandparents, and educational institutions, as it directly impacts the cost of borrowing for higher education. We've got a new article on our website that breaks down everything you need to know about these changes. Staying proactive and informed can help mitigate the financial strain. Want to learn more? Head over to our website and read the full article to get all the details: https://lnkd.in/eHyqVBqj #WestAdvisoryGroup #StudentLoans #InterestRates #HigherEducation #FinancialPlanning
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💳 As of March 2023, those 50 and older hold 25% of all the outstanding federal loan debt. 💳 Those who are over age 35 hold 64% of all the outstanding federal loan debt. 💳 There are 2.7 million borrowers over age 62 with an average federal student loan balance of $41,600 Planning and saving for college is crucial to avoid the burden of student loans down the road. Leveraging free money through student aid can significantly reduce future financial strain. By strategically combining savings with available aid, you'll reduce the need to take out loans. Source ➡ Trends in College Pricing and Student Aid 2023, New York: College Board. #studentloans #debt #college #collegeplanning #finance #fafsa #studentaid
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Paying for college has always presented challenges, and this year brings even more hurdles. With interest rates on Federal Direct Loans for students and parents set to increase significantly, it's essential to navigate the financial aid landscape wisely. In this article https://rpb.li/5jE6 our partners at Colleging explain the reasons behind the rising interest rates, provide strategies for borrowing at the lowest possible cost, and explore private loans — such as those we offer here at 1st UCU — as a viable alternative to Federal PLUS Loans. For more info on private student loans we offer go to https://rpb.li/pEWz9v
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The U.S. Department of Education recently announced significant changes to the interest rates on federal student loans for the 2024-2025 academic year. What might these changes mean and how could they affect your current or future scholar? Read More Here: https://lnkd.in/gb2RzUYP As always, please contact our offices if you have any questions about education savings plans, or your overall financial health and plan. (949)-945-6970 - Tower 68, Newport Beach Financial Advisors #EducationPlanning #EducationSavings #529 #InterestRates #LoanRates #NewportBeach #FinancialAdvisor #FinancialPlanner
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President and Co-Founder at Student Loan Professor (formerly Doctors Without Quarters)
Lawsuits are heating up: Kansas and Missouri are leading the charge against President Biden's SAVE plan for student loans. The lawsuits claim the plan allows borrowers to avoid repaying much of their debt, breaking Higher Education Act mandates. Allegations include bypassing Congress and defying Supreme Court decisions. If successful, it could affect millions of borrowers. Stay informed as this case unfolds, learn more at https://lnkd.in/eMTNuPKK #SLProfessor #SAVEplan #StudentLoans #LoanForgiveness #BidenAdministration
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The lack of college price transparency isn't just hurting the public. It's holding colleges and universities back from figuring out how to provide a better value at a better price.
Some pretty strong evidence that making financial fit the first step in building a college list leads to better outcomes. Check out insights #3 and #5 is this great little report from the Pew Research Center. TL/DR: Reduce the trajectory of student loan borrowing on the front end, and the perceptions of whether or not college is worth the price jumps dramatically. #financialplanning #collegeadmissions #college #studentloans #studentdebt #makeyourtuitionfit https://lnkd.in/gh9-S3DE
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✳ Eighth Circuit Blocks Key Parts of Student Loan Relief Plan ✳ The Eighth Circuit Court of Appeals has issued an injunction against critical parts of the Biden administration's SAVE student loan forgiveness plan, putting a pause on interest forgiveness and $0 payments based on income. This decision impacts millions of borrowers and raises questions about the future of student debt relief. 🤔 How do you think this ruling will affect students, graduates, and professionals in the workforce? 👇 Share your thoughts and let’s discuss the potential implications for higher education and financial planning. #StudentLoans #DebtRelief #HigherEducation #FinancialAid #LoanForgiveness #EconomicImpact #LegalUpdate #Workforce #LetsDiscuss #Thoughts #TrendingNews
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Lawsuits are heating up: Kansas and Missouri are leading the charge against President Biden's SAVE plan for student loans. The lawsuits claim the plan allows borrowers to avoid repaying much of their debt, breaking Higher Education Act mandates. Allegations include bypassing Congress and defying Supreme Court decisions. If successful, it could affect millions of borrowers. Stay informed as this case unfolds, learn more at https://lnkd.in/gZG7mzAj #SLProfessor #SAVEplan #StudentLoans #LoanForgiveness #BidenAdministration
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✳ Eighth Circuit Blocks Key Parts of Student Loan Relief Plan ✳ The Eighth Circuit Court of Appeals has issued an injunction against critical parts of the Biden administration's SAVE student loan forgiveness plan, putting a pause on interest forgiveness and $0 payments based on income. This decision impacts millions of borrowers and raises questions about the future of student debt relief. 🤔 How do you think this ruling will affect students, graduates, and professionals in the workforce? 👇 Share your thoughts and let’s discuss the potential implications for higher education and financial planning. #StudentLoans #DebtRelief #HigherEducation #FinancialAid #LoanForgiveness #EconomicImpact #LegalUpdate #Workforce #LetsDiscuss #Thoughts #TrendingNews
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✳ Eighth Circuit Blocks Key Parts of Student Loan Relief Plan ✳ The Eighth Circuit Court of Appeals has issued an injunction against critical parts of the Biden administration's SAVE student loan forgiveness plan, putting a pause on interest forgiveness and $0 payments based on income. This decision impacts millions of borrowers and raises questions about the future of student debt relief. 🤔 How do you think this ruling will affect students, graduates, and professionals in the workforce? 👇 Share your thoughts and let’s discuss the potential implications for higher education and financial planning. #StudentLoans #DebtRelief #HigherEducation #FinancialAid #LoanForgiveness #EconomicImpact #LegalUpdate #Workforce #LetsDiscuss #Thoughts #TrendingNews
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