Proposals to Alter Student Loan Repayment Would Worsen Crisis of Older Adults Struggling with Student Debt
Low-Income Borrowers Could Be Left in Repayment Until Death, and Parent PLUS Borrowers Would Be Left Without Affordable Payment Options
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NCLC Statement in Response to Proposed Rules to Provide Student Debt Relief
Today, the Department of Education released proposed rules that would provide federal student loan debt relief to four categories of borrowers.
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The American Prospect: Student Borrowers Report Chaos and Confusion as Repayment Looms
Appearing in The American Prospect on Aug. 31, 2023, David Dayen tells the stories of student loan borrowers in repayment, including NCLC staff attorney Kyra Taylor. This last story is unusual because Kyra is a student loan expert. She is a staff attorney with the National Consumer Law Center who previously worked on the Project…
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NerdWallet: From ‘I Do’ to IDR: What the New SAVE Plan Means for Married Student Loan Borrowers
The latest income-driven repayment (IDR) plan has been touted as the most generous student loan plan ever — and, in an article appearing in NerdWallet on Aug. 24, 2023, Eliza Haverstock talks to Kyra Taylor about how it could give greater flexibility to married couples with student debt.
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New Action Brings Much-Needed Relief to 800,000+ Student Borrowers; More Help Needed for Borrowers in Default
WASHINGTON – Advocates with the National Consumer Law Center’s Student Loan Borrower Assistance Project applaud action today by the Department of Education to begin automatically discharging $39 billion in Federal student loans–helping more than 804,000 borrowers get out from under crushing student debt. But advocates warn more must be done to assist borrowers who’ve fallen…
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TIME: "What to Do If You Can't Afford to Pay Back Your Student Loans"
An article appearing in TIME on March 8, 2023 by Solcyre Burga advises borrowers that before they make any decisions about possibly changing their payment plan or applying for a forbearance or deferment they first research their options and reach out to their loan servicer, quoting Kyra Taylor. Information about the type of loan you…
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Op-Ed in The Hill: Ending the black hole that’s devouring student loan payments
Early in Aubrey Plaza’s recent movie, Emily the Criminal, her character is seen calling her student loan servicer, between food delivery shifts, to ask why her recent $400 payment wasn’t applied to her balance. She is stunned by the response: “It was applied to my interest? Sorry, how much interest is being added a month?” The…
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Proposed Changes to Income-Driven Repayment Improve Student Loan Affordability, But Problems Remain
The Administration’s plan would reduce loan bills for eligible borrowers and fix several program flaws, but misses opportunities to make repayment work for low-income borrowers WASHINGTON – Today, the Department of Education proposed regulations that would significantly change income-driven repayment (“IDR”) plans for tens of millions of federal student loan borrowers. While the changes to…
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