President Biden’s student loan forgiveness plan is back in the news — mostly because of how confusing it all seems to be. When AfroTech originally reported on the President’s plan, there was some intimation that it may favor higher-income parties. “Despite the $125,000 income cap, research shows the White House plan still slightly favors higher-income Americans: Analysis of a $10,000 blanket relief program published Tuesday by the Penn Wharton Budget Model found 69.79% of overall debt forgiveness would go to the top 60% of Americans by income, while individuals who make between $82,400 and $141,096—placing them between the 60th and 80th percentile—would receive the greatest share of overall forgiveness, at 28.1%, though the additional relief for Pell grant recipients should bring further benefit to lower-income borrowers,” read our report, according to a Forbes article about the matter. But, the reality of the student loan forgiveness plan is a lot more complicated than originally...

If you’ve been walloped by the economic fallout from the coronavirus pandemic, taking advantage of the federal student loan repayment suspension and interest freeze is a no-brainer. You can now stop making your payments and enjoy the six-month, interest-free period handed down by the U.S. government. But what if you can afford to keep putting money toward your education debt? For you, taking advantage of the federal student loan interest freeze might mean something else entirely. Here’s how to know… … when it makes sense to keep making federal loan payments … when it makes sense to sit back during the federal student loan interest freeze When it makes sense to keep making federal loan payments As you’ve likely heard, the government has enacted a six-month suspension of student loan payments — technically, an “administrative forbearance” — that allows most federal loan borrowers to take a penalty-free break from payment through Sept. 30, 2020. And yet, continuing to make payments...

People enroll in college anticipating that a degree will lead to better job prospects, higher salaries and more opportunities in the future. But for a range of reasons, including college costs and life circumstances, some students have to drop out. After leaving school, you’re still required to make payments on your student loan debt. Refinancing can help many people manage their student debt, but refinancing student loans without a degree can be difficult. Here are your options for refinancing student loan and coming up with a repayment strategy if you didn’t complete your degree. Can you refinance student loans without a degree? For many people, refinancing and consolidating student loans makes their debt more manageable. They may qualify for a lower interest rate, different repayment terms or even a lower monthly payment. That can free up money in their budgets for other financial priorities. If you didn’t complete your degree, finding a lender who will refinance your loans with...

ISAs allow students to pay no tuition upfront, in exchange for a percentage of their future income after graduation. This fall, 19.9 million people are expected to attend college or university in pursuit of a degree. It is expected that around one million students will default on their student loans as well. In the past, higher education was seen as a ticket toward higher salaries and better jobs, but today, with student debt balances appreciating, people are starting to think twice about pursuing further education. As the price of tuition increases — the price of college is appreciating almost eight times faster than wages — students are increasingly relying on debt to finance their education. One method to address this problem that has already gained traction in the form of a bipartisan bill — is Income Share Agreements (ISAs) . Income Share Agreements Income Share Agreements , for which bipartisan legislation is being considered, allow students to pay no tuition upfront, in...