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☆ A 70-year-old who finally found a solution to a lifetime of loneliness says the friendships he's made are worth the cost
▼ + stars: | 2024-02-04 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

But when someone mentioned a "senior village" in Seattle to him, he decided to give it a shot. Senior villages are a nationwide network of community-based nonprofits that connect older adults to others in their area through resources and activities. AdvertisementA network of sponsors funds senior villages, and members of the villages can pay from $150 to $425 a year, depending on their level of involvement. AdvertisementMeanwhile, other older adults are working on innovative ways to form connections later in life. Grossman said he's hopeful that the government will take more steps to address the loneliness epidemic and pay more attention to the challenges older adults are facing.

Persons: —, Rick Grossman, Grossman, he's, There's, didn't, that's, Vivek Murthy, Zers, Joe Lamy Organizations: Service, Business, University of Michigan, Village Network Locations: Pennsylvania , Texas , California , New Jersey, Seattle

☆ Some student-loan borrowers are surprised to find their accounts are suddenly in forbearance. Here's why that might be happening.
▼ + stars: | 2023-11-09 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Some student-loan borrowers are logging into their accounts and seeing it in forbearance. AdvertisementAdvertisementIf you recently logged into your student-loan account and were surprised to see it placed in forbearance, you're not alone. Over the past few days, student-loan borrowers primarily serviced by MOHELA have logged into their accounts to see their loans were no longer in active repayment. Still, the borrower's account continues to show a payment due with interest accruing, according to documents reviewed by Insider. AdvertisementAdvertisementWas your student-loan account placed on administrative forbearance without any notice?

Persons: servicer, —, MOHELA, servicers, forbearance, Scott Buchanan, Elizabeth Warren, Ed Markey, Chris Van Hollen, Richard Blumenthal, Scott Giles Organizations: Department, Service, Public, Student Loan, — Locations: forbearance, MOHELA, Sens

☆ A major student-loan company is giving millions of borrowers 'inadequate' information as it works to solve billing inaccuracies, 4 Democratic lawmakers say
▼ + stars: | 2023-11-08 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Education Department withheld pay from student-loan company MOHELA over repayment errors. AdvertisementAdvertisementSeveral Democratic lawmakers aren't happy with the way a major student-loan company is resolving account errors for millions of borrowers. @MOHELA has failed to provide borrowers with accurate, timely information about their loans, forcing millions into forbearance. The Education Department said it will continue oversight over servicers to crack down on mistakes that are putting borrowers at risk. Are you experiencing challenges with student-loan repayment?

Persons: MOHELA, —, aren't, Elizabeth Warren, Ed Markey, Chris Van Hollen, Richard Blumenthal, Scott Giles, forbearance, @MOHELA, yKdYeyTfV3 — Ed Markey, Giles, MOHELA's, Miguel Cardona Organizations: Department, Service, Democratic, Education Department, MOHELA, Federal Locations: Sens

☆ Student-loan borrowers with 'hardship' could be eligible for Biden's next round of relief if the administration can define what that means
▼ + stars: | 2023-11-01 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Education Department released its draft text for its new student-debt relief plan. AdvertisementAdvertisementOver the past few years, Insider has heard from a range of borrowers who have struggled to get ahead of their student debt. Now, President Joe Biden's Education Department is moving forward with its new plan for student-loan forgiveness — and it wants feedback on which situations would meet a "hardship' standard for relief. The department said it did not include that group of borrowers in its initial draft text for debt relief because it needs to further define what hardship means. Do you think your student debt experiences should qualify as hardship?

Persons: —, Joe Biden's, Pell, Tamy Abernathy Organizations: Education Department, Service, Joe Biden's Education Department, Higher

☆ Student-loan companies are asking for patience to resolve account errors as payments come due, but borrowers can't afford to wait
▼ + stars: | 2023-10-08 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

AdvertisementAdvertisementAlicia, 48, is just a few months away from qualifying for student-debt relief through the Public Service Loan Forgiveness program. She said she anticipated that once the student-loan payment pause ended, she would be facing the same monthly payment. After over three years, the pandemic student-loan payment pause is officially over — interest started to accrue again in September, and bills are now starting to become due. So we can't wait months and months and months." Are you having challenges with student-loan repayment?

Persons: servicers haven't, —, Alicia, Alicia —, I've, servicers, it's, it'll, they're, We're, Xiong Chang, Xiong, I'm, servicer, he's, Miguel Cardona Organizations: Service, Public, Education Department, Customer Service Locations: PSLF

☆ Biden's asking Congress for a budget Band-Aid. It'll make student loan repayment easier, secure Social Security and food benefits — and avoid a government shutdown.
▼ + stars: | 2023-08-31 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Without the cash infusion, the admin says, Social Security could get bogged down. Without that temporary budget fix, Social Security could get bogged down, low-income babies and seniors might not receive their benefits, and student loan repayment could get even thornier. The agency noted that the Education Department requires $2.3 billion to ensure it can effectively disburse student aid. It would also allocate $1.8 billion for student aid administration, which is $265 million below its current level. Are you worried about losing WIC or other food assistance, or struggling to repay student loans?

Persons: Biden, Joe Biden, Chuck Schumer, Kevin McCarthy, Schumer Organizations: Biden, Social Security, Service, Security, Management, OMB, SNAP, Social Security Administration, Women, Federal Student Aid, Education Department, Federal, Aid, Labor, Republicans, MSNBC, Republican, jkaplan Locations: Wall, Silicon, Washington

☆ Many student-loan borrowers are struggling to access their servicer's website and call center due to 'technical difficulties' days before the payment pause is set to end
▼ + stars: | 2023-08-28 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Student-loan company Nelnet's call center and website temporarily shut down due to "technical difficulties." The student-loan payment pause is set to end on Friday. AdvertisementAdvertisementAfter over three years, the federal student-loan payment pause is about to end. AdvertisementAdvertisementHowever, it's a critical time for student-loan borrowers to ensure they can financially plan for the payment resumption, and these technical issues are not making matters easier. Are you experiencing challenges with the student-loan payment resumption?

Persons: Nelnet, it's, I've Organizations: Service, An Education Department, Federal Student Aid Locations: Wall, Silicon, Houston

☆ A $49,000 monthly student-loan bill and incomplete debt relief: Borrowers are facing confusion as repayment looms
▼ + stars: | 2023-08-20 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +8 min

Some student-loan borrowers are running into hurdles leading up to the payment resumption. Insider spoke to borrowers with inaccurate monthly statements and incomplete debt relief. Jess's incorrect monthly payment statement is just one of the challenges borrowers are facing as President Joe Biden's Education Department and federal student-loan companies work to transition millions of borrowers back into repayment. This announcement was part of the department's one-time account adjustment to get relief to borrowers who have reached the repayment threshold. "Right now, House Republicans are pursuing an appropriations bill that cuts $22.5 BILLION from education," Education Secretary Miguel Cardona wrote on X last month.

Persons: Jess, couldn't, Jess —, —, she's, there's, Joe Biden's, Scott Buchanan, servicers —, Buchanan, we've, Karin Smith, Smith, I'm, It's, haven't, Miguel Cardona Organizations: Service, Joe Biden's Education Department, Student Loan, —, Education Department, The Education Department, House Republicans, Republican Locations: Wall, Silicon

☆ A student-loan company's 'history of mismanagement' is putting millions of borrowers in public service at risk with payments about to resume, 2 Democratic lawmakers say
▼ + stars: | 2023-08-17 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Reps. Katie Porter and Joe Courtney sent a letter to student-loan company MOHELA on Tuesday. They asked how the company is using its resources to manage the Public Service Loan Forgiveness portfolio. Borrowers have reported difficulty getting help from MOHELA during the payment pause. On Tuesday, Reps. Katie Porter and Joe Courtney sent a letter to Scott Giles, the CEO of student-loan company MOHELA, which manages the Public Service Loan Forgiveness portfolio. Nelnet, another student-loan company, announced in March that it was cutting its call center hours and laying off 550 employees likely due to budget constraints.

Persons: Katie Porter, Joe Courtney, MOHELA, haven't, Scott Giles, Joe Biden's, Porter, Courtney, Giles, Nelnet, — Organizations: Public, Service, Democratic, MOHELA, Joe Biden's Education Department, Department, —, Education Department Locations: MOHELA, Wall, Silicon, PSLF

☆ Over 800,000 student-loan borrowers are set to start seeing their debt wiped out following income-driven repayment reforms
▼ + stars: | 2023-08-14 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Over 800,000 student-loan borrowers are set to start seeing their debt wiped out. It's part of a one-time account adjustment for borrowers on income-driven repayment plans. The future of the relief is uncertain after conservative groups filed a lawsuit to block it. On Monday, student-loan companies are set to begin discharging the debt of 804,000 borrowers who have qualified for $39 billion in debt relief — part of the first batch of borrowers affected by the Education Department's one-time account adjustment for income-driven repayment plans. "At the start of this Administration, millions of borrowers had earned loan forgiveness but never received it.

Persons: Education James Kvaal, Joe Biden's Organizations: Service, Education, New Civil Liberties Alliance, Cato Institute, Mackinac Center for Public, Public, Education Department Locations: Wall, Silicon

Americans held over $1 trillion in credit card debt in the second quarter of 2023, a new record. The rise in credit card debt helped push total household debt to a record-high $17.06 trillion. For the last seven quarters, credit card balances have grown year over year amid strong consumer spending despite high prices. Despite these record-high credit card balances, there are some silver linings. Are you dealing with an untenable amount of credit card debt, or worried about student loan payments restarting?

Persons: Bankrate, Courtney Alev, Alev, Donald Trump, Joe Biden, Biden, Ted Rossman, Rossman Organizations: Federal Reserve Bank of New, Service, Privacy, New York Fed, Credit Karma, Fed, Consumer Financial, Bureau, Education Department, New, jkaplan Locations: Federal Reserve Bank of New York, Wall, Silicon, It's, York

☆ A student-loan company's call center briefly shut down due to 'technical issues' after it started notifying borrowers of their monthly payment amount in October
▼ + stars: | 2023-08-03 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Student-loan company Nelnet started notifying borrowers of their monthly payments in October. Shortly after, borrowers took to X to complain about inability to reach the company's customer service. Nelnet responded on X that its call center briefly shut down, and it's receiving an influx of calls and emails. The Education Department and student-loan servicers have never transitioned millions of borrowers back into repayment at this scale. Do you have concerns with the return to student-loan repayment?

Persons: Nelnet, —, couldn't, servicers —, Joe Biden, servicers, I'm Organizations: Service, Education Department, The Education Department, Federal Student, Republicans, Federal Student Aid Locations: Wall, Silicon

☆ Employees at the student-loan company named in a major lawsuit blocking Biden's debt relief were confused about their involvement in the case: 'Are we the bad guys?'
▼ + stars: | 2023-06-16 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Employees at student-loan company MOHELA were confused about their role in one of the lawsuits blocking debt relief. MOHELA has denied involvement in the case, and Supreme Court justices were skeptical of its standing. But it appears MOHELA employees weren't given a heads-up they would be called into this major lawsuit. Millions of borrowers are waiting for the Supreme Court to issue its final decision on the legality of Biden's debt relief, which could happen in the coming weeks. Do you work at MOHELA or another student-loan company and want to share your story?

Persons: MOHELA, —, Joe Biden's, Cori Bush, Bush, James Campbell, Campbell, Ella Azoulay, Amy Coney Barrett Organizations: Student, Protection, Service, Employees, GOP, Missouri Sunshine, Missouri Rep, Missouri Attorney Locations: Missouri, Nebraska, MOHELA

☆ Meet a single dad with $550,000 in student loans for his 5 children: 'I'm just not going to take the chance on not sending my kids to school'
▼ + stars: | 2023-06-02 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

He took out parent PLUS loans to fund their education and told Insider he now has $550,000 in debt. Clark was preparing to pay for his five kids' education as part of a two-income family, but he and his wife divorced in 2011. Just a few years later, when the children started going to college, he decided to turn to federal loans to finance their education himself. Parent PLUS loans, the type of loan Clark is paying off, are federal loans that let parents pay for their children's education. Clark says he wanted what was best for his kids, and parent PLUS loans allowed him that opportunity.

Persons: Reid Clark, —, Clark, isn't, Andrew Gillen, It's, Joe Biden's Organizations: Service, Parent, Texas Public, Foundation, Yahoo Finance Locations: Pennsylvania, East

☆ Meet a teacher with $44,000 in student debt who is worried she'll be thrown back into repayment in a few months without the public service relief she was promised
▼ + stars: | 2023-05-21 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

Cherie Vaughn, 57, has $44,000 in student debt after working in public service for decades. But she's worried her account will not be up to date before student-loan payments resume this year. That's even after serving nearly three decades in public service, making her eligible for full loan forgiveness. "I guess I'm just looking for the actual public service part of this loan forgiveness. Do you have a story to share about student debt?

☆ 615,000 student-loan borrowers in public service have now gotten $42 billion in debt wiped out under temporary reforms — and getting relief going forward will soon be a lot easier, Biden's Education D
▼ + stars: | 2023-05-08 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Education Department said 615,000 borrowers have gotten $42 billion in relief since October 2021. That's a result of temporary reforms to the Public Service Loan Forgiveness program. On Monday, the department announced that 615,000 borrowers in public service have received $42 billion in student-loan forgiveness since October 2021. That's why it implemented a limited-time waiver that allowed past payments to count toward borrowers' forgiveness progress, including those that were previously deemed ineligible for relief. Have you recently received debt relief through the public service loan forgiveness program?

☆ Millions of student-loan borrowers could find out in the next 2 months if they will get Biden's debt relief. Here's what's at stake — beyond a reduction to balances.
▼ + stars: | 2023-05-01 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +8 min

The Supreme Court is expected to issue a decision on Biden's student-debt relief by the end of June. They could have debt relief right now if it weren't for these lawsuits." And it looks like the Education Department is planning for those payments to resume with or without relief. The implementation of targeted debt relief reformsThe Education Department has some other things in the works, aside from broad student-debt relief. Share your student debt story with this reporter at asheffey@insider.com.

☆ Meet a 64-year-old therapist who's been making student-loan payments for decades while working in public service — but still hasn't gotten loan forgiveness
▼ + stars: | 2023-04-30 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

Greg Ogden, 64, said he's been paying off his student loans since 1994 while working in public service. He said he applied for Public Service Loan Forgiveness but paperwork errors have kept him in repayment. Now, he said he owes about $25,000 in student debt, and he's frustrated it's still hanging over his head at this point in his life. "I want to fulfill my obligations, but I would like them to honor the payments that I've made," Ogden said. Do you have a story to share about your student debt?

☆ Meet a teacher who paid his student loans for 6 more years than he needed to qualify for debt cancellation. Now he can't get his money back.
▼ + stars: | 2023-04-02 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +8 min

He contacted his servicer, MOHELA, in August to get refunded on those payments, but hasn't had any luck. Currence, 41, took on about $13,000 in student loans for his Bachelor's degree in 2005, and he had nearly paid it all off by the time he took on another $15,000 in loans in 2018 for his Master's degree. Given his career in public service, Currence wanted to take advantage of the Public Service Loan Forgiveness (PSLF) program, which forgives student debt for government and nonprofit workers after ten years of qualifying payments. Currence jumped at the opportunity to consolidate his loans into federal direct loans under student-loan company MOHELA to qualify for debt relief. They told him he could then consolidate his loans to get his remaining balance wiped out under PSLF, he said.

College enrollment has declined over the last decade. Here are three reasons why college enrollment may have collapsed. Why learn when you can earnThe robust labor market may have also contributed to college enrollment falling. Such attacks on colleges over the years might have caused Republicans to question the skill benefits of a college education. Did you get a job without a college degree?

☆ A student-loan borrower was promised a $5,000 refund on payments after Biden's broad debt relief. Months later, she's still waiting — and no one is picking up the phone to help.
▼ + stars: | 2023-03-19 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

Roxanne Dougherty, 31, is waiting for a $5,000 refund on her student-loan payments. The Education Department directed Insider to guidance on refunds posted on Federal Student Aid's website. "No one is taking the time to help me or to listen to me when it comes to MOHELA," Dougherty said. "It just seems like there's something in it for them to not help," Dougherty said. Are you still waiting for a refund on your student-loan payments?

☆ The US economy has been 'more than fine' without your student debt
▼ + stars: | 2023-03-01 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +9 min

Her story shows the extra juice that delaying — or as some would argue, canceling — student debt can provide to people's lives and the economy as a whole. "If we cancel student debt, what that really means is the federal government is choosing not to collect payments from debtors on the debt that's already issued," Steinbaum said. Biden's student loan bailout will cost every taxpayer, even those who never went to college, at least $2,500." But to be clear, we don't have the most concrete data about the effects of student loan relief — since, well, it hasn't been done. Do you have a story to share about student debt?

☆ Job seekers are using ChatGPT to save time on the most annoying part of an application: the cover letter
▼ + stars: | 2023-02-06 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Job hunters are using artificial intelligence tool ChatGPT to do a tedious task: writing cover letters. In some cases, using ChatGPT to write your cover letter could hurt your chances of landing a role. Some people are using it to secure those jobs in the first place by having OpenAI's chatbot write their cover letters. at how well ChatGPT rendered a cover letter template for an academic job" after she asked the bot to write a cover letter for an assistant professor position. Chatter around ChatGPT cover letters has surfaced lots of debate on the topicThe debate around whether cover letters should be nixed altogether because they could introduce more room for bias aside, using cover letters written by ChatGPT to secure a new job is also controversial.

☆ A worker at a student-loan company says the 'lack of guidance' from Biden's Education Department on debt cancellation is hurting borrowers: 'I'm just so worried people are going to be left out'
▼ + stars: | 2022-09-18 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

A student-loan company worker expressed concern with the lack of guidance on Biden's debt relief. "There's a complete lack of guidance from the Education Department on what to advise borrowers," the worker, who requested to remain anonymous but whose identity is known to Insider, said. The worker specifically assists borrowers within the Federal Family Education Loan (FFEL) program, who have loans that are commercially-held and not eligible for federal relief. Currently, the Education Department is advising those borrowers to consolidate their loans into direct federal loans so they can qualify for forgiveness. In response to the worker's concerns, an Education Department spokesperson pointed Insider to the FFEL guidance already on its website and did not have any additional details to provide.

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