Author: Erica Delaney
White Paper
40% of Borrowers Missed their October Payment
Throughout 2023, Student Connections warned of a coming repayment crisis. A few months into repayment, we’re getting our first look at how bad the situation is. Spoiler alert – it’s worse than most predicted.
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White Paper
Student Loan Borrowers Face Missing and Inaccurate Bills
When student loan repayment restarted in October, many borrowers got an unwelcome surprise. Servicing errors resulted in missing, late, or inaccurate bills for millions. To make matters worse, affected borrowers ran into extremely long hold times when seeking help from their loan servicer or Federal Student Aid (FSA).
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White Paper
For Borrowers: Understanding the Supreme Court’s Decision on Student Loan Forgiveness
After months of waiting, the Supreme Court has finally ruled on a case impacting student loan forgiveness. We look at the reasoning behind the Court’s ruling, and how it might impact future efforts to assist student loan borrowers.
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Inflation Transforms Growing Wages into Pay Cuts
Labor shortages over the past few years have led to higher wages for workers. Unfortunately, inflation has more than offset those gains. As a result, college-educated workers in 2023 have less buying power than their 2020 counterparts.
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White Paper
As the Payment Pause Ends, the Repayment Crisis Begins
On June 3, President Biden signed the Fiscal Responsibility Act of 2023. A portion of the law mandated an end to the federal student loan payment pause. While the Biden administration had repeatedly signaled its commitment to end the program in 2023, the law provides certainty.
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Repayment is Coming but Borrowers Aren’t Ready
After a three-year pause, student loan payments will resume in 2023. With tens of millions ready to enter the system, we’re facing what could be an unprecedented repayment crisis.
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Key Information Sources for Student Loan Borrowers
Recently, we conducted a survey of our front-line support borrower advocates regarding the motives, questions, and concerns borrowers have. Keep reading to learn what we found.
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White Paper
Is Income-Driven Payment Right for Your Borrowers?
High inflation, an uncertain job market, and the pandemic’s economic fallout have left student loan borrowers financially vulnerable. The resumption of student loan payments will be more than many household budgets can handle.
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As Student Loan Payments Restart, Help Dries Up
After nearly three-years in hibernation, monthly student loan payments will restart in 2023. Chaos and confusion are likely, so why is the borrower support system shrinking?
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White Paper
Impending Challenges Even if Student Loan Debt Relief is Upheld
Overwhelming numbers of borrowers will resume student loan payments in 2023. This is likely to trigger a repayment crisis. The scale of the crisis hangs on the Supreme Court’s ruling on the Biden-Harris Administration Student Loan Debt Relief program.
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