Student loans have been on a twisty road the last couple of weeks. As your trusted source for student loan information and support, we’re tracking these changes. We’re ensuring our contact center representatives have the latest updates to help ensure we’re providing the most current, and accurate guidance. But, as always, we suggest for the latest federal program updates that you visit the U.S. Department of Education’s (ED’s) website or Federal Student Aid’s (FSA’s) website.
Here’s a quick look at recent happenings affecting the student loan industry.
- The Congressional Budget Office released budget projections for fiscal years 2024-2034, including taxpayer projected spending on the federal student loan program.
- Attigo by Ascendium recently reported that just days before millions of student loan borrowers expected to see their monthly bill drop by half or more, two federal judges halted the Biden administration’s relief plan stemming from the SAVE repayment plan. Additional changes have taken place since then and are worth another look (Source: FSA).
- The Supreme Court overturned a landmark decision that gave federal agencies broad regulatory power that makes it more likely that student debt relief plans, and potentially other student loan forgiveness and repayment programs, could be curtailed (Source: Forbes).
Personalized Support Makes a Difference
Employers, colleges and universities, and membership associations can be a vehicle for securing access to trustworthy, personalized loan counseling support. While student loan servicers are traditionally borrowers’ best first contact for 1-to-1 assistance, confusion about who to contact can deter borrowers from reaching out for help (Source CBSNews). Attigo provides student loan counseling that goes above and beyond to help your employees and alums get the support they need quickly and easily.
