Servicers Use Student Loan Forgiveness to Promote Refinancing

"As borrowers wait to apply for student loan forgiveness, several debt servicers have used the opportunity since the cancellation announcement to tout private loan refinance options," Yahoo News reports. 

..."'A series of decisions by FSA, has resulted in significant confusion for students and increased burden on postsecondary institutions,' the National Association of Student Financial Aid Administrators (NASFAA) said in a September 7 letter to the ED. 'Worse, these major changes often came with little to no advance notice. Education Secretary Cardona declared in June 10 that FSA was already busy preparing for broad scale forgiveness and, yet, at the time of the announcement FSA had no answers to even simple implementation questions such as which loans would qualify for cancellation based on origination or disbursement date.'"

NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.


Publication Date: 10/12/2022

View Desktop Version