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Search resuls for: "Tanya Burnett"


2 mentions found


☆ Some student-loan companies are offering borrowers cheaper payments before the October restart. Making the switch could strip away a range of debt relief programs.
  + stars: | 2023-08-05 | by ( Ayelet Sheffey | ) www.businessinsider.com   time to read: +5 min
Some student-loan companies are encouraging federal borrowers to refinance before the payment restart. Companies that manage private loans have started reaching out to federal borrowers, encouraging them to refinance their federal debt to get a better deal on payments. For example, SoFi — a student-loan refinancing company — sent letters to borrowers last month with a header reading, "Federal student loan forbearance is ending soon. Consumer Financial Protection Bureau Advisor to the Director Andrea Matthews told Insider in September that "the benefits to having a federal student loan have never been more tangible. Before federal payments resume in October, borrowers can enroll in the Education Department's new SAVE Plan, which is an income-driven repayment plan intended to lower monthly payments.
Persons: Joe Biden's, It's, —, forbearance, Biden's, Earnest, refinancer, refinancers, Andrea Matthews, Tanya Burnett, Burnett Organizations: Service, Education Department, Public, Biden, Consumer Financial Locations: Wall, Silicon
☆ Meet a government worker who regrets refinancing her student debt because she didn't know it would block her from federal loan forgiveness: 'I never would have done that'
  + stars: | 2022-09-25 | by ( Ayelet Sheffey | ) www.businessinsider.com   time to read: +6 min
Tanya Burnett, a federal government worker, refinanced her student debt into private loans in 2016. She wasn't aware at the time that doing so would block her from Biden's recent federal loan forgiveness. In 2016, Burnett started paperwork to qualify for the Public Service Loan Forgiveness (PSLF) program, which forgives student debt for government and nonprofit workers after ten years of qualifying payments. It also meant taking her federal loans to a private lender. She's certainly not the only one who refinanced, and now, cannot take advantage of Biden's one-time blanket debt relief.
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