5 Tips to protect yourself from the major servicer changes coming this December. In a previous post, we covered the Department of Education’s massive overhaul of the federal student loan servicing system and what borrowers can expect moving forward. For those who have not read the article yet, you can find it here. For those […]
The Department of Education moves forward with massive Student Loan Servicer Reform. What does this mean for borrowers? According to a recent press release, The Department of Education and Betsy Devos announced that they have contracted five new companies to take over federal student loan servicing. The new lenders that will be servicing borrower’s student […]
According to officials from the Department of Education, just under 5 million federal student loan borrowers who were placed into an emergency forbearance due to COVID-19, have recently been negatively affected by negligent credit reporting. The Federal Student Loan Servicer, Great Lakes Educational Loan Services, erroneously submitted misinformation for approximately 4.8 million federal student loan […]
With the sudden emergence of COVID-19, quarantine and the closing of all non-essential businesses, stress and anxiety around money is at an all time high. In contrast, financial literacy in America is at an all time low and has been declining since 2009. According to a global survey conducted by Standard & Poor’s, the United […]
On March 27th, 2020, the President of the United States signed the CARES Act into law in an effort to provide federal student loan borrowers with temporary relief. We at Key 2 Debt Free want to ensure that our clients understand what this means for them as well as the rights they have as borrowers. […]