Student loans to go to Treasury Department
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In an ominous sign for student loan borrowers, the Education Department published new data indicating that backlogs for repayment plans and loan forgiveness are ongoing.
Trump's cap on student-loan borrowing for advanced degrees has prompted colleges to create new lending programs to fill financing gaps.
More than half a million federal student loan borrowers remain in a backlog of applications for an affordable repayment plan, a court filing revealed.
A federal judge approved an agreement this week to phase out the Saving on a Valuable Education, or SAVE, Plan. The move could affect millions of borrowers.
Federal appeals court officially ends Biden's SAVE student loan plan, reportedly impacting 7 million borrowers who must now seek alternative repayment options.