How delays in IDR and PSLF approvals are affecting the financial stability of young professionals. More than 643,000 federal student loan borrowers in the United States are currently stuck in a growing administrative backlog, waiting either to be approved for more affordable repayment plans or for long-term loan forgiveness. The figures, revealed in a recent…
The UK caps interest on Plan 2 (undergraduate) and Plan 3 (postgraduate) student loans at 6 per cent to limit inflation-driven growth in loan balances while leaving income-linked repayments unchanged. Image: Generated by AI Over the years, the politics of student debt in the UK has turned into a quiet contradiction. Payments are designed to…
US ends illegal SAVE student loan plan The US Department of Education has officially ended the controversial ‘Saving on a Valuable Education’ (SAVE) plan, which was repeatedly struck down by courts as illegal. About 7.5 million borrowers who joined the SAVE plan based on promises of “student loan forgiveness” and unusually low monthly payments will…
The Trump administration has moved decisively toward dismantling the federal Department of Education, announcing a historic interagency agreement that moves student loan operations to the Treasury Department. The transfer puts Treasury in a position to manage defaulted federal student loans and support repayment efforts, which officials have called the biggest step yet in a multiphase…
Trump Administration Moves Student Loan Recovery to Treasury: What Students Should Know A major policy shift in the United States is putting student loans back into the spotlight—and for millions of young borrowers, it’s raising more questions than answers. According to CNBC, the Trump administration has announced plans to include the United States. Department of…