Judge slams Education Department for rejecting 94% of loan-relief claims
The Education Department said many claims were submitted by borrowers who attended ineligible programs or who failed to make a valid claim for loan forgiveness.
Student loans
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Former ITT Tech students in Indiana to get $10M in debt relief
More than 1,300 students who were enrolled at now-closed ITT Technical Institute campuses in Indiana are eligible for student loan forgiveness as part of a $330 million national settlement affecting as many as 35,000 former ITT students.
Trump administration still garnishing wages of student loan borrowers during pandemic
The Trump administration is fighting a class-action lawsuit for continuing to garnish the wages of defaulted borrowers in violation of a federal order.
Sen. Rand Paul offers bill to combat student loan debt with retirement savings
The Kentucky Republican introduced federal legislation late Monday that would allow students to dip into retirement accounts to help pay for college or make monthly debt payments.
More employers offering workers help paying off student loans
Americans collectively owe nearly $1.5 trillion in student loans—more than twice the total a decade ago. It’s a burden that weighs on millions of adults, shaping their life choices and often stunting their financial growth.
IBJ Podcast: Pete the Planner talks about paying for college
IBJ personal finance columnist Peter Dunn talks with podcast host Mason King about three key components of paying for college: saving in advance, paying some expenses in the moment and preparing your kids to make good choices.
Report finds problems with student loan servicing, oversight
The nine companies and organizations tasked with servicing the accounts of the nation's 30 million student loan borrowers repeatedly failed to do their jobs properly over a period of years, a new report finds.
Teachers union sues student loan servicing firm Navient
The American Federation of Teachers filed a lawsuit Wednesday against Navient, alleging that it failed to guide eligible borrowers through a critical student loan forgiveness program. Navient has major operations in Fishers.
Education chief loses student loan lawsuit brought by 19 states
Education Secretary Betsy DeVos' move to delay Obama-era regulations to help students defrauded by for-profit colleges was dealt a setback Wednesday.
Full loan relief rare for students defrauded by for-profit colleges
The Trump administration is granting only partial loan forgiveness to the vast majority of students approved for help because of fraud by for-profit colleges, according to preliminary Education Department data.
Nation’s top student loan official resigns in protest
Seth Frotman will be stepping down as student loan ombudsman at the end of the week, citing what he says is the White House's open hostility toward protecting the nation's millions of student loan borrowers.
Student-debt firms shielded from state probes in new federal plan
Student-loan debt collectors accused of misleading borrowers would get more protection under a proposal from the Trump Administration.
Sallie Mae planning $12M expansion, 350 more jobs in Indianapolis
The expansion is the second for the student loan giant in Indianapolis in less than two years.
Education Department might only partly forgive some student loans
The Department of Education is considering only partially forgiving federal loans for students defrauded by for-profit colleges, according to department officials, abandoning the Obama administration's policy of erasing that debt.
SEC asked to probe trades of student loan giant Navient
The AFL-CIO is asking regulators for a review of possible insider trading involving shares in Navient Corp., which has major operations in Fishers.
Study: For-profit colleges blamed for many student debt defaults
Students who attended for-profit colleges were twice as likely or more to default on their loans than students who attended public educational institutions, according to a federal study published Wednesday.
Navient can’t block U.S. claim it duped student debtors, judge rules
Student loan giant Navient Corp., which has major operations in Fishers, has suffered a pair of courtroom defeats in its attempt to block government lawsuits alleging borrowers had been mistreated.
More than 2,000 in Indiana eligible for student loan cancellation
Indiana residents who attended schools operated by Corinthian Colleges Inc. are eligible for cancellation of federal student loans used to pay tuition, Indiana Attorney General Curtis Hill said Wednesday.
Student loan defaults on the increase, study finds
A new analysis of government data by the Consumer Federation of America found that the number of Americans in default on their student loans jumped by nearly 17 percent last year.
Consumer agency accuses Navient of ‘systematically’ cheating borrowers
Navient Corp. has been sued by a U.S. regulator over allegations that the student loan giant failed to properly service private and federal loans. Navient has major operations in Indiana.