News

Federal court injunction for provisions of SAVE

UPDATE: Federal court blocks further forgiveness and payment reductions under the new SAVE program. 10th Circuit Court of Appeals Partially Reverses Injunction.

June 26, 2024

On Monday June 24th, 2024, two different federal district courts in Kansas and Missouri handed down two different injunctions to the Department of Education’s proposed final rule to implement the additional forgiveness and payment reducing features of the Savings on Valuable Education program or SAVE. On Sunday June 30th, 2024, the 10th Circuit Court of Appeals partially overturned that injunction.

As we approach the crucial July 1, 2024 date for the official implementation of the Department of Education's IDR Account Adjustment, Hope Credit is pleased to announce the forgiveness of more than $23 Million in student loan debt for hundreds of (former) Hope Credit clients.

Over $23 Million in forgiveness since November of 2021!

June 17, 2024

As we approach the crucial July 1, 2024 date for the official implementation of the Department of Education’s IDR Account Adjustment, Hope Credit is pleased to announce the forgiveness of more than $23 Million in student loan debt for hundreds of (former) Hope Credit clients.

April 30, 2024 is the deadline to consolidate FFEL or Parent Plus loans into a Direct Consolidation loan to remain eligible for the IDR One Time Account Adjustment.

Deadline: What benefits are expiring on 12/31/2023?

December 18, 2023

April 30, 2024 is the deadline to consolidate FFEL or Parent Plus loans into a Direct Consolidation loan to remain eligible for the IDR One Time Account Adjustment.

In the past few months student loan borrowers have seen several new benefits to help reduce the cost of student loan repayment and increase student loan forgiveness. Now, the U.S. Department of Education is pushing for more targeted forgiveness benefits, which could make some borrowers eligible for forgiveness based on their unique or uncommon circumstances.

The Options Are Getting Better

November 13, 2023

In the past few months student loan borrowers have seen several new benefits to help reduce the cost of student loan repayment and increase student loan forgiveness. Now, the U.S. Department of Education is pushing for more targeted forgiveness benefits, which could make some borrowers eligible for forgiveness based on their unique or uncommon circumstances.

On August 1st, 2023, the U.S. Department of Education, in coordination with the various student loan servicers have began the process of implementing the new SAVE repayment program for eligible borrowers.

The new SAVE repayment program has arrived!

August 1, 2023

On August 1st, 2023, the U.S. Department of Education, in coordination with the various student loan servicers have began the process of implementing the new SAVE repayment program for eligible borrowers.

On July 14th, 2023 the U.S. Department of Education announced the latest implementation of the multi-step approach to address longstanding failures associated with student loan payment count tracking for the purpose of forgiveness.

US DOE Announces IDR Adjustment To Forgive 804,000 Borrowers Due To Time In Repayment

July 14, 2023

On July 14th, 2023 the U.S. Department of Education announced the latest implementation of the multi-step approach to address longstanding failures associated with student loan payment count tracking for the purpose of forgiveness.

On June 30th, 2023 the Supreme Court of The United States ruled in favor of the plaintiffs in 2 cases that were consequential to the implantation of the blanket student loan forgiveness program.

US Supreme Court Rules Against DOE Authority To Implement Blanket Loan Forgiveness

July 3, 2023

On June 30th, 2023 the Supreme Court of The United States ruled in favor of the plaintiffs in 2 cases that were consequential to the implantation of the blanket student loan forgiveness program.

On June 3rd, 2023, the President of the United States signed the Fiscal Responsibility Act of 2023.

Student Loan Covid Forbearance Ends As a Result of Federal Budget And Debt Ceiling Compromise

June 20, 2023

On June 3rd, 2023, the President of the United States signed the Fiscal Responsibility Act of 2023.

Beginning Sunday January 1st, 2023 (which was a holiday), the student loan servicer responsible for facilitating the Public Service Loan Forgiveness program began sending notifications to successful PSLF Waiver candidates that their loans have been forgiven in full. Fedloan Servicing, the previous student loan servicer responsible for PSLF administration had sent these notifications by email and/or documentation in a borrowers Fedloan account.

PSLF Forgiveness Update: MOHELA Is Sending Approval Letters By Mail Only

February 3, 2023

Beginning Sunday January 1st, 2023 (which was a holiday), the student loan servicer responsible for facilitating the Public Service Loan Forgiveness program began sending notifications to successful PSLF Waiver candidates that their loans have been forgiven in full. Fedloan Servicing, the previous student loan servicer responsible for PSLF administration had sent these notifications by email and/or documentation in a borrowers Fedloan account.

Beginning Tuesday November 22nd, 2022, more than 9 million student loan borrowers began receiving emails confirming the approval of their blanket student loan forgiveness applications, whether they had actually applied for the blanket student loan forgiveness or not.

U.S. Department of Education Clarifies The Sending Of Erroneous Forgiveness Approval Mass Emails To Student Loan Borrowers, Blames “Vendor Error”

December 15, 2022

Beginning Tuesday November 22nd, 2022, more than 9 million student loan borrowers began receiving emails confirming the approval of their blanket student loan forgiveness applications, whether they had actually applied for the blanket student loan forgiveness or not.

On Monday December 12th, 2022 the U.S. Supreme Court has agreed to review both challenges to the blanket forgiveness plan that is currently blocked by the lower federal courts.

U.S. Supreme Court Agrees To Hear Two Forgiveness Lawsuits In February, Ruling By June

December 15, 2022

On Monday December 12th, 2022 the U.S. Supreme Court has agreed to review both challenges to the blanket forgiveness plan that is currently blocked by the lower federal courts.

On Tuesday November 22nd, 2022 the U.S. Department of Education announced an extension of the Covid-19 student loan payment pause that was scheduled to end December 31, 2022.

U.S. Department of Educations Extends Covid-19 Student Loan Forbearance Through August 29th, 2023 Or A Sooner Date To Be Determined

November 22, 2022

On Tuesday November 22nd, 2022 the U.S. Department of Education announced an extension of the Covid-19 student loan payment pause that was scheduled to end December 31, 2022.

On Tuesday November 22nd, 2022 federal student loan borrowers began receiving emails from the Department of Education entitled

Department Of Education Is Emailing Approval Letters For $10K and $20K With Forgiveness Still Blocked

November 22, 2022

On Tuesday November 22nd, 2022 federal student loan borrowers began receiving emails from the Department of Education entitled “Update on Student Loan Debt Relief and the Status of Your Application”.

Federal court clears the way for closed school discharge: effect is immediate for many borrowers.

Department Of Education Is Currently Cancelling Debts For Borrower Defense To Repayment

November 18, 2022

Federal court clears the way for closed school discharge: effect is immediate for many borrowers.

On Thursday November 10th, 2022 the United States District Court For The Northern District Of Texas declared the blanket student loan forgiveness program unlawful and vacated the program as a result of the judgement.

Blanket Student Loan Forgiveness Vacated By United States District Court For The Northern District Of Texas

November 10, 2022

On Thursday November 10th, 2022 the United States District Court For The Northern District Of Texas declared the blanket student loan forgiveness program unlawful and vacated the program as a result of the judgement.

On Friday October 21st, 2022 the U.S. Court of Appeals for the 8th Circuit granted an administrative stay to the blanket student loan forgiveness proposal that was supposed to begin forgiving student loan debt balances starting Sunday October 23rd, 2022.

Blanket Student Loan Forgiveness Blocked By 8th Circuit U.S. Federal Appeals Court

October 26, 2022

On Friday October 21st, 2022 the U.S. Court of Appeals for the 8th Circuit granted an administrative stay to the blanket student loan forgiveness proposal that was supposed to begin forgiving student loan debt balances starting Sunday October 23rd, 2022.

Over the last few weeks, the process of forgiving $10,000 or $20,000 for every student loan borrower in the United States as set forth by the Department of Education has been moving forward to this specific point. In the coming days and weeks we should begin to see the actual forgiveness affecting the student loan debt balances of individual federal student loan borrow

Imminent Blanket Student Loan Forgiveness

October 15, 2022

Over the last few weeks, the process of forgiving $10,000 or $20,000 for every student loan borrower in the United States as set forth by the Department of Education has been moving forward to this specific point. In the coming days and weeks we should begin to see the actual forgiveness affecting the student loan debt balances of individual federal student loan borrow

Blanket Student Loan Forgiveness Ordered by Current Presidential Administration

Blanket Student Loan Forgiveness Ordered by Current Presidential Administration

September 12, 2022

The current presidential administration has announced plans to cancel up to $10,000 or $20,000 for each federal student loan borrower. Borrowers are eligible for student debt relief if they make less than $125,000 a year as an individual. The announcement was made by the President of the United States and the Secretary of the U.S.

Application Currently Closed By The U.S. Department of Education: https://studentaid.gov/debt-relief/application

Due to the unprecedented amount of changes recently to several areas of student loan policy related to forgiveness, Hope Credit will be providing periodic updates to the various student loan forgiveness proposals that affect our clients. Please check back often to see our latest interpretations of government announcements, court decisions, and student loan servicer activities that will affect the forgiveness prospects for millions of Americans seeking relief.

Student Loan Policy Related To Forgiveness Update

August 23, 2022

Application Currently Closed By The U.S. Department of Education: https://studentaid.gov/debt-relief/application

Due to the unprecedented amount of changes recently to several areas of student loan policy related to forgiveness, Hope Credit will be providing periodic updates to the various student loan forgiveness proposals that affect our clients. Please check back often to see our latest interpretations of government announcements, court decisions, and student loan servicer activities that will affect the forgiveness prospects for millions of Americans seeking relief.

student debt problems

Why Is Student Debt A Problem

August 12, 2022

Why Is Student Debt A Problem. The US economy is facing increasing economic hardship from global events. These international events are affecting Americans in every state, especially the younger generations of young Americans trying to move up in society economically. They face difficulties accomplishing home ownership, auto ownership, and career opportunities. The wages are also not keeping

Fed Loan Program

Fed Loan Program is Ending – Fedloan Servicing will Cease

July 25, 2022

Fed Loan Program is Ending Fed Loan Program is Ending It’s Contract With The U.S. Department Of Education. Fedloan Servicing will cease to be the student loan servicer for millions of federal borrowers in the coming months. Fedloan Servicing helped process Public Service Loan Forgiveness (PSLF) for student loans. However, PSLF servicing responsibility will now be transferred

Department Education

Department Of Education Announced

May 2, 2022

Department Of Education Announced. On Tuesday, April 19, 2022, the current presidential administration announced reforms for student loan forgiveness and the income-based repayment programs. The U.S. Department of Education (DOE) will grant immediate student loan forgiveness to 40,000 borrowers. Another 3.6 million borrowers are expected to benefit by setting up their path of eliminating their student loan

student loan debt crisis

Student Loan Debt Crisis Statistics

April 5, 2022

Student Loan Debt Crisis Statistics. It is vital to secure your financial future in the age of Covid-19, high gas prices, inflation, debt, and wars. The first step is to assess your budget. Knowing your spending habits and obligations will help organize your money flow. Once you know where your income is being spent, this

student loan relief

Student Loan Debt Relief Updates

March 8, 2022

Student loan debt relief Important updates. The ongoing coronavirus pandemic has affected Americans in a variety of ways, especially financially. Many people are still out of work or struggling to get by with reduced incomes, forced to decide where to tighten their belts just to keep the monthly bills paid. Those with student loan debt

student loan debt future

Student Loan Debt Can Impact Your Future

January 25, 2021

Are you concerned about the ways student loans may affect your life? Learn about how they can hurt you and know when to seek help for payments you can’t make.

student repayment

Student Loan Repayments Ways To Prepare for in 2021

January 22, 2021

Federal student loan payments may begin again this year—are you ready? Brace yourself for monthly payments even when the future of student loans is uncertain.

get out of student loan debt

How To Get Out of Student Loan Debt

January 8, 2021

Your student loans may seem like an endless, immortal monster that will never stop pestering you, but this is never the case—even if you have pesky private loans. Whether you’ve had student loans for years or you’re just now starting to make your payments, it’s important to educate yourself on how to get out of

student loans debt die

What Happens To Student Loans When You Die

December 30, 2020

Death and student loans are by no means easy topics to talk about but both are necessary to consider for the sake of your parents and other family members. To avoid lenders taking advantage of your weakened family after an unfortunate death, it’s important to do your research regarding what happens to student loans when

reduce private student loan debt

How To Reduce Private Student Loan Debt

December 21, 2020

When you’re burdened with private student loans, you may see all the news about federal student loan forgiveness programs and can’t help but feel a little jealous. Seeking private student loan forgiveness is a fruitless effort, but private loans do come with their own fair share of reduction efforts, which are more difficult to do

federal student loans

Federal Student Loan Settlement The Reasons

December 7, 2020

Settling federal student loan debt is a rare occurrence, but it may be necessary for some people who can no longer pay off their loans and have no other options. If you feel as though you have nowhere to turn and a mountain of federal student loan repayments, it may be time to try for

student loan forgiveness

Reduce Your Federal Student Loan Debt

December 7, 2020

Reduce Your Federal Student Loan Debt Here is how. Nobody wants to think about their student debt or how much interest it’s accumulating, but there comes a time when you need to think about how to start taking chunks out of it. Leaving your federal student debt unpaid can lead to dire financial consequences and

private student loans

Private Student Loans Are They Unsecured Debt?

December 7, 2020

Do you know what’s at stake if you fail to meet a monthly repayment on your private student loan? If you know whether your private loan is secured or unsecured, you’ll know exactly what’s at risk if you begin to miss payments too often. Once you’ve learned about the differences between secured and unsecured debt,

secure student loans

Secured Student Loans vs. Unsecured Student Loans

December 7, 2020

More than likely, you won’t have any physical or financial collateral on the line if you begin to miss student loan payments. However, if you had a poor credit score when you began applying for loans, there’s a chance that a lender offered you a secured personal loan for your higher education fund. Whether you’re

get student loan debt

Common Federal Student Loan Debt Mistakes

December 7, 2020

After college ends and your student loan repayments begin, you may feel unsure of yourself and doubtful of your ability to repay your loans. Mistakes you can learn from are bound to happen throughout your life, but it’s best to keep those mistakes out of your student loan debt, or you’ll end up having to

understanding student loans

Understanding the Student Loan Forgiveness Statute

December 7, 2020

Understanding different laws can sometimes be difficult, especially when it comes to laws regarding your student loans. If you struggle with understanding the student loan forgiveness statute, you’re not alone. The most important part about your student loans is knowing when they are over and how the forgiveness process works. Let us help you understand

step private student loans

Steps to Private Student Loan Debt Settlement

December 7, 2020

When you have student loans from a private lender, the government’s beneficial student debt policies won’t be relevant to you. If your loan payments are piling up and defaulting, it might be time to consider settling your student loan debt. We have the steps to private student loan debt settlement to help you get started

student loan types

Student Loan Debt Is Different from Other Types of Debt

December 4, 2020

When you undertake student loans for the first time, you may consider them a necessary step in your education. However, student loans are the second-largest source of debt in the country, so it’s important to remember that student loan debt can come with all the consequences of any other type of debt. If you have

student loan types

Student Loans Affect Your Ability To Buy a House

December 4, 2020

Student Loans Affect Your Ability To Buy a House. The most natural next step after finishing your college degree and securing a steady job is to buy a home or condo. Buying property for yourself provides more benefits than perpetually renting property. In addition to finally getting to design your home without limitations and not

Student Loan Forgiveness

Student Loan Forgiveness: How To Qualify

December 4, 2020

Student Loan Forgiveness: How To Qualify. In many cases, student loan forgiveness is the grand finale of your loan repayment plan. As you put more money into your remaining balance, however, you may wonder if there’s a way for your student debt to be forgiven now rather than in 20 to 25 years. If your

student loan stimulus

Your Student Loans Stimulus Check & Student Loan Debt

August 17, 2020

Your Student Loans Stimulus Check can it be take? The coronavirus pandemic has heavily affected the United States and its residents, resulting in a one-time stimulus check. As the government mulls over the possibility of another check after four months, you might be wondering: Can student loan debt take your stimulus check? Your budget is

cares act

How the CARES Act Impacts Your Student Loans

August 5, 2020

You may be pinching pennies during the crisis of COVID-19, and federal student loan payments might not be one of your primary concerns right now. That’s okay! Graduates everywhere in every stage of life are frantic as their jobs shut down and money becomes even more of a precious resource. Luckily, on March 27th, the

student loan programs

Student Loan Programs The Different Types

July 30, 2020

If you’ve just gotten out of college and have the looming dark cloud of loan payments above your head, knowing the different types of student loan programs will help you determine which program is best for you. Income-Contingent Repayment Program (ICR) The income-driven repayment plan began in 1994. Income-driven repayment plans consist of monthly payments

teacher student loans

Teacher Student Loan Forgiveness Lawsuit 2019

July 18, 2019

Teachers – they’re some of the most impactful people in our society. They put time and energy into making the lives of America’s youth better every day. However, when it comes to teacher student loan forgiveness, they’re not receiving the kind of respect and fair treatment they deserve. Over the years numerous lawsuits have surfaced

student effects

Student Debt Effects Everyone Hope Credit Can Help

November 15, 2018

People often think Millennials are the only ones who are impacted by student debt. However in the United States today there may be more Baby Boomers with student loans than there are Millennials. This can affect many things including people’s abilities to buy homes, cars or even find jobs. Student Debt Loans Can Affect Peoples

get out student loan debt

Get Out of Student Loan Debt Make Additional Payments

November 15, 2018

Making extra loan payments is one of the best ways to get out of student loan debt. This can help reduce the total amount of interest you’ll have to pay since there will be less debt to charge interest on. Many people decide to make the minimum payment on their student loans. If borrowers can

student loan debt mistakes

Federal Student Loan Debt Mistakes Avoid These

November 15, 2018

Managing federal student loan debt doesn’t have to be difficult. There are tons of strategies borrowers can use to manage debt effectively. In the United States, there are millions of people who took out federal loans. The problem is that most people are not aware of the numerous debt management strategies that can save them

public student loans

Public Employee Student Loan Forgiveness

November 15, 2018

Public employee student loan forgiveness in theory is an excellent concept. However there’s been countless issues surrounding the program. Many people are led to believe that all they need to do is work in public service for 10 years and make their loan payments on time every month to qualify for PSLF (Public Service Loan

how to reduce student loans

How To Reduce Student Loan Debt and Get Out of Default

October 24, 2018

Reduce Student Loan Debt. Reducing student loan debt can seem intimidating to borrowers and even impossible to borrowers who are in default. However there are tons of ways to chip away at student loans! The main thing that can help is to have a solid plan in place and to stick to the plan as

choosing the right student loan

Choosing The Right Help For Student Loans

October 24, 2018

Unfortunately student loan forgiveness scams are all too common today. Most companies in the industry have quality ethics and strive to sincerely help their clients, but just like in any industry there are always a few companies who choose to be unethical. Recently the student loan industry has seen quite a few companies pose as

lawsuit public

Betsy DeVos Loses Lawsuit Regarding Student Loans

October 24, 2018

Betsy DeVos loses lawsuit. Unfortunately getting the government to forgive student loans isn’t always the easiest thing to do. Recently 19 states and the District of Columbia won a lawsuit they brought against Betsy DeVos’ department. This lawsuit involved Betsy DeVos department not implementing a rule set up by President Obama that protected borrowers who

companies offering student loans

3 Companies Offer Student Loan Debt Forgiveness Benefits

October 24, 2018

Recently there has been an increase in the number of companies offering student loan debt forgiveness benefits. A lot of people have some level of student loan debt left over from college. Many businesses have recognized that student loans play a role in a job candidate’s decision-making process. The economy is also improving and there

public student loan tips

Public Student Loan Forgiveness Tips

October 24, 2018

Public student loan forgiveness doesn’t have to be complicated for government and non-profit employees. Public service employees can qualify for certain types of forgiveness programs under the right circumstances. The main thing to focus on is making sure you’re accurately informed about your options. Here are a few tips we think can make public employee

received student loan forgiveness

Not all People Have Received Student Loan Forgiveness Yet

October 24, 2018

In theory student loan forgiveness sounds fairly simple. However during the last 10 years since it was created things have not gone as smoothly as they could have. Many people who enroll in forgiveness programs end up not meeting all of their program requirements. This isn’t always their fault though. The problem usually begins with

lawsuit student loans

Lawsuit – Public Service Student Loan Forgiveness

September 17, 2018

As the first batch of public service student loan forgiveness borrowers became eligible for forgiveness on October 1, 2017, many discovered the unfortunate reality that their loans and their repayment programs didn’t qualify for forgiveness, and they would have to start all over. This came as a shock to most, especially due to the fact

student loan what do you know

What You Don’t Know About Student Loan Forgiveness

September 17, 2018

Like most borrowers who attempt to enter into student loan forgiveness programs with servicers, Mary Carroll assumed that the government contracted collection agency in charge of her student loan repayment was ethical, honest and had her best interests in mind. Several years elapsed before she discovered that she was being misled and that all of

navient student loans

Navient Student Loan Forgiveness Lawsuit 2018

September 17, 2018

California has joined several other states in filing suit against major student loan forgiveness servicer Navient, regarding their alleged abusive collection practices. A common misconception is that Navient itself offers loan forgiveness. However, this is not the case. Navient is simply just a loan servicer, contracted by the federal government. Essentially, all they do is

401k student loans

Earn 401K Money While Paying Off Your Student Loan Debt

September 17, 2018

The IRS has recently published a policy letter, which allows employers to match student loan debt payments (made by the employer on the employee’s behalf). There’s certain minimum and maximum limits that need to be met, but overall this new policy letter looks to be very promising. Here’s how everything started. Originally, a company (who’s