Student loans

The pandemic-era freeze on student debt payments has "dramatically" improved credit scores for Americans who borrowed money to pay for college, the Federal Reserve Bank of New York said.

President Biden is considering extending a pause on student loan repayments for several more months, as well as forgiving $10,000 in student loan debt per borrower, according to people familiar with the matter, as he seeks to appeal to young voters ahead of the November midterms.

The Consumer Financial Protection Bureau said “time is running out” for military student loan borrowers to obtain debt relief under the Public Service Loan Forgiveness program.

Searching Google for information about student loan forgiveness surfaces advertisements that either appear to violate content policies or lead people to scams, according to a watchdog group, increasing public confusion as the Biden administration mulls actions on student debt.

Consumers welcome more generous forgiveness policies and the chance to have past defaults erased from their record, but they need assistance connecting the dots, financial services executives say.

In an NPR/Ipsos poll released Friday, 82% of respondents said they believed making college more affordable should be a bigger priority to the federal government than forgiving existing student debt.

A majority of borrowers who together hold about $400 billion in federal student debt made no payment on their loans in the pandemic era, taking full advantage of a freeze put in place at the onset of the COVID-19 crisis.

Millions of U.S. students just found out how much they’ll have to pay on student loans for the coming school session — and it’s a lot more than last year.

The San Francisco-based online lender originated more than $2 billion in personal loans during the first quarter, a big jump from a year earlier. The surge made up for softness in the company's home loan and student loan businesses.

GradFin offers advisory services to Americans who want assistance with their student loans. The acquisition is part of the Cleveland bank’s strategy of adding niche digital businesses.