Browsing: Student Loans

At one point, ACS Ed Services (also known as Conduent Education Services) was the largest student loan servicer contracted by the Department of Education (DOE), receiving a federal contract worth $2 billion. As of September 1, 2019, all student loans ceased to be serviced by this company. All pending accounts were transferred to other loan servicers, such as: Aspire Resources Inc. CornerStone ESA/EdFinancial FedLoan Servicing (PHEAA) MOHELA Navient Nelnet OSLA Servicing Sallie Mae Borrowers experienced confusion after the transition, but the loan terms and payment options remained the same. The purpose of this article is to provide you with an…

The payment of student loans can have a detrimental effect on your finances, especially if you do not have the means to repay them. Student loan payments can amount to hundreds of dollars per month, affecting your disposable income and limiting your ability to purchase a home. Student loans have traditionally been difficult to repay. In most cases, people can’t get rid of them through bankruptcy, so they’re stuck with them until they pay them back. Many people wonder whether they can settle student loan debt like they can a credit card or loan. The possibility of settling student loans…

The Consumer Financial Protection Bureau (CFPB) had filed a lawsuit in November against two Californian companies that offer student loans and debt settlement services. The complaint was filed in the state-federal court against Performance Settlement, Performance SLC LLC, and the CEO of the two companies. The lawsuit filed by CFPB alleges that Performance SLC LLC had violated laws in charging fees from students for loan applications. California residents have been racking up credit card debt, personal loans, student loans, and other unsecured debts at alarming speeds. Credit card debt in California alone exceeds $116 billion. Editorial Credit: ESB Pro CFPB…