Pippin Wilbers

1 week ago | bankrate.com | Mark Kantrowitz |Pippin Wilbers

Borrowers face long delays and limited support as federal agencies slash staff. Self-advocacy and documentation are more important than ever. Use available tools like StudentAid.gov, student loan servicer websites, and state consumer protection offices to get help.

1 week ago | bankrate.com | Lauren Nowacki |Pippin Wilbers

On May 22, a federal judge temporarily blocked President Donald Trump’s plans to dismantle the Department of Education by ordering the ED to reinstate recently-terminated staff members. The ruling coincides with a new study revealing the negative impact a reduced ED workforce has had on student loan borrowers. As the future of the department hangs in the balance, so does the federal student aid program as we know it today.

3 weeks ago | bankrate.com | Lauren Nowacki |Pippin Wilbers

The first of three monthly reports from the U.S. Department of Education suggests that processing for both income-driven repayment plans and the Public Service Loan Forgiveness buyback program is off to a slow start. Borrowers who applied for either program should expect delays and continue making their regular payments to their current loan servicers. Nearly 200,000 of the 5.3 million federal student loan borrowers in default received a collections notice this month.

4 weeks ago | bankrate.com | Mark Kantrowitz |Pippin Wilbers

A proposed House bill aims to drastically reshape federal student aid by eliminating Subsidized Stafford and Grad PLUS loans. New, lower annual and aggregate loan limits will restrict federal borrowing by undergraduate, graduate and professional students. A dozen repayment plans will be replaced with just two for new borrowers. Risk-sharing will make colleges responsible for part of the cost of student loan defaults and discharges.

4 weeks ago | bankrate.com | Lauren Nowacki |Pippin Wilbers

Paying off student debt together with a partner may shave years off your repayment term and save you thousands of dollars. Risks of paying off debts together include resentment, financial sacrifice and potential divorce complications. Before teaming up to repay debt, ask yourself the tough questions about whether you can afford it and what stresses it could put on the relationship. In May 2019, my husband Mike and I stood across from each other in our kitchen waiting for the other to speak.