Can borrowers afford their monthly student loan payments? Reduced purchasing power, growing debt, and high interest rates have left many with extremely brittle budgets. Their financial strain can be seen in the increasing rate of consumer credit delinquency.

After years of inflation and stagnating wages, student loan borrowers could use some help. In response, the Department of Education (ED) has announced a new repayment plan that offers much lower monthly payments.

Your first monthly student loan payment is due in October 2023. Follow this step-by-step guide to get ready and learn what to do if you can’t afford your payment. Don’t wait! Thirty-million borrowers will enter repayment at the same time. Delaying will make it extremely hard to get help.

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.

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.

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.

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.

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.

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.

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?

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.

Confused about when (and if) student loan payments will restart? You’re not alone. The answer’s a bit convoluted. We’ll walk you through it.

As we enter 2023, it’s important to examine the key factors shaping borrower behavior and prepare for the challenges they represent.

The federal loan servicer Nelnet has announced the layoff and/or termination of more than 550 of its employees.

Months of speculation have surrounded the Biden-Harris Administration Debt Relief program, but we’re one step closer to a final decision.

You may be wondering what’s happening with the new one-time student loan debt relief. You’re not alone.

If you have questions about the federal government’s student loan forgiveness and debt relief efforts, you’re not alone. Here are answers to some of the most commonly asked questions.

The Department of Education has released the application for students seeking debt relief for their federal student loans. While some borrowers will automatically receive debt relief, most will have to apply.

Should you apply now for student loan debt relief? Or wait for the official launch? Here are some things to consider.

Borrowers are excited to have multiple plans to receive student loan debt relief. Unfortunately, these initiatives have overlapping deadlines, leaving many borrowers confused. Here are the key dates and deadlines to know.

Student loan forgiveness scams are on the rise. The announcement of new payment relief plans has changed the normal rules surrounding student loans. The good news is that there are ways to identify and protect yourself from student loan scams. Here are some steps you can take.

As soon as the Department of Education announced a new one-time student loan cancellation based on income, borrowers started asking questions like, “Do I qualify?” and, “How much will be forgiven?” and we’ve got facts and details to help answer those questions.

Student loan debt relief will probably be in the news for months, but now is the best time to take action on your loans.

The Dept. of Education recently announced a one-time student loan cancellation as well as another payment pause extension. Here are the facts and important details.

As part of the federal government’s student loan forgiveness program, you can get those payments refunded and made available for loan forgiveness. Keep reading to learn who qualifies and how refunds are applied.

Here’s what we know regarding borrower eligibility and implementation details as of Sept. 1, 2022.

The Public Service Loan Forgiveness (PSLF) program is an amazing opportunity for borrowers who spend their careers working for government and non-profit organizations.

Meeting the requirements of the PSLF program takes 10 or more years. The process has three distinct phases. Each phase has tasks you must complete in order to qualify.

In 2021, the federal government announced MAJOR changes to PSLF that would only be available for a limited time. The new program could shave years off your PSLF qualification process and save you thousands of dollars.

We are committed to keeping student loan borrowers and schools updated with changes to the student loan program resulting from the COVID-19 pandemic.

Becky Graves is the financial aid director for Wallace State Community College – Hanceville (WSCC), a Borrower Connect customer.

Loan payments will have been paused for 29 months when the suspension ends Aug. 31, 2022.

Amid the COVID-19 pandemic, student loan payment relief is on its way to borrowers in repayment. Do your borrowers know what to do and how to navigate their situation?

It’s been a while since we’ve posted an update on the great things happening at Student Connections, but it has been an extremely eventful year!