Author: SLR Editor

Sen. Warren Doesn’t Like Navient Acquisition of Earnest

Senator Warren (center) with a couple of colleagues at a campaign rally in Massachusetts.Democratic Senator Elizabeth Warren expressed her concerns about Navient's acquisition of Earnest and further involvement in the private student loan market according to an interview with The International Business Times. She even mentioned that Navient should not be allowed to service federal student loans.She suggested that the deal may negatively impact student loan borrowers in several ways. One of her concerns included fears that Navient would start pushing student loan refinancing to federal student loan borrowers, transitioning these federal loans into the private loan market.Under such...

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Colleges That Offer the Most Creative Arts Scholarship Aid

College can be an expensive place to learn, but it’s an essential pit stop for many students with career aspirations. With that being said, many students are forced to find financial aid if they’re going to pay for tuition. This often leads people to take out student loans during college which contributes to the glaring problem that is student debt today.However, student loans aren’t the only option for students who need financial aid. Scholarships are an extremely useful option to those who need to pay for higher education. The scholarship industry represents billions in free funding, and they are...

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ReliaMax Insures and Services Another $73 million in Private Student Loans from MetaBank

The student loan industry has seen another major deal. ReliaMax, a large private student loan servicing and insurance-provider for banks, credit unions and other lenders, is picking up an additional $73 million in private student loans from MetaBank. These two companies have worked together in the past, so it should not be unexpected.Within the past year, ReliaMax announced that it was selected to service and insure thousands of MetaBank’s private student loan portfolio according to The Student Loan Report. This additional $73 million in private student loans represents a large portion of the remaining loans with MetaBank following the...

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Betsy DeVos Breaks Headlines, Suggesting Student Loan Subsidization Paid for ACA

Education Secretary Betsy DeVos at the Conservative Political Action Conference (CPAC) in Maryland during 2017.In a recent Politico interview covered by The Chronicle of Higher Education, Secretary of Education Betsy DeVos suggested that the government took control of student loans largely as a way to pay for the Affordable Care Act. Needless to say, Sec. DeVos is under fire for the comment, but her saving grace is this was just a suggestion.DeVos was responding to a reporter who asked a question about his six percent student loan interest rate; he compared the rate to his auto loan rate which...

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New Tax Bill Spells Bad News for Student Loan Interest Tax Deduction

Last Thursday, Republican leaders unveiled a new bill titled the Tax Cuts and Jobs Act. This plan proposes several major overhauls to the U.S. tax code, including eliminating a number of interest deductions. If the bill goes forward, one of the deductions that may be cut is the student loan interest deduction, affecting millions of student borrowers in repayment.According to the Joint Committee on Taxation, this deduction costs the federal government roughly $2.4 billion a year. Under the current tax plan, individuals can deduct a maximum of $2,500 of interest paid toward private or federal student loans. This deduction...

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