student loans
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Alfred Street Baptist Church Donates $100,000 to Howard University Students
Students at Howard University currently have reason to run around the sanctuary praising God, because Alfred Street Baptist Church has raised $100,000 to pay off their student debt. Thanks to the Virginia-based church, 34 students—including one Mya Thompson—can lay the burden of student debt down by the riverside. According to the Washington Post, Thompson, like…
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The Education Department Is Canceling $150 Million Of Student Loan Debt and Betsy DeVos Can Stay Mad
I didn’t come here to praise Betsy DeVos. So, I won’t. Nearly 15,000 emails to former students and parents of students who attended college campuses overseen by now-defunct Corinthian Colleges and other for-profit institutions like ITT Tech were sent. Thanks to an Obama-era provision called the Automatic Closed School Discharge, everyone who received one has…
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Employers May Soon Help With Student Loan Debt—but Will Black Grads Be Left Behind?
Many of us are all too familiar with the student loans, but thanks to a new program unveiled by Fidelity Investments, repayment aid from your employer may soon be an option. The problem? It probably won’t do much to address the deep racial disparities of the student debt crisis. According to BuzzFeed News, Fidelity announced…
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$5,000,000,000 Worth of Student Loan Debt Could Be Wiped Out Because of Missing Paperwork
Have you taken out a private student loan to fund your education? Do you know who owns the debt? The issue of who owns the debt on $5 billion worth of student loans is at the center of a legal battle that is resulting in tens of thousands of people having their debt wiped away.…
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Education Secretary Betsy DeVos Just Removed Some Huge Consumer Protections for Student Loan Borrowers
While we were all distracted by other things Tuesday, Betsy DeVos used her powers as education secretary to roll back some key policy memos issued by the Obama administration that strengthened consumer protections for student loan borrowers. The Washington Post reports that the U.S. Department of Education is in the process of issuing new contracts…
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Will We Be Getting Reparations From Sallie Mae-Navient?
Navient, the nation’s largest servicer of student loans, has misled borrowers for years with respect to its policies and practices, costing them millions of dollars, according to a lawsuit filed Wednesday by a federal regulator. The Consumer Financial Protection Bureau, the same agency that went after Wells Fargo and aired out all its dirty laundry,…
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Report: HBCU Students Are Burdened With Higher Loan Debt Than Non-HBCU Peers
Students who graduate from historically black colleges and universities graduate with substantially higher debt than their peers at non-HBCUs, according to a new report published by the United Negro College Fund on Tuesday. “Fewer Resources, More Debt: Loan Debt Burdens Students at Historically Black Colleges and Universities” (pdf), released by UNCF’s Frederick D. Patterson Research…
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Report: Student Loan Debt Up 4 Percent
Undergraduate students are leaving school with an average of $30,000 in student loan debt, a new study shows. Consumerist reports that the latest annual student debt survey from the Institute for College Access & Success found that nearly 7 out of 10 seniors graduating from four-year public and nonprofit colleges in 2015 owed an average…