News & Updates
Over $23 Million in Forgiveness Since November of 2021!
Historic Achievement for Hope Credit Clients: Over $23 Million in Forgiveness 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
Betsy Devos Loses Lawsuit Regarding Student Loans
IntroductionSecuring student loan forgiveness can be a difficult process. Recently, a significant legal victory was achieved by 19 states and the District of Columbia. They sued Betsy DeVos’ Department of Education over its failure to implement a rule that would protect borrowers harmed by for-profi
Update: Federal Court Blocks Further Forgiveness And Payment Reductions
UPDATE: Federal court blocks further forgiveness and payment reductions under the new SAVE program. 10th Circuit Court of Appeals Partially Reverses Injunction. UPDATE: This article has been updated June 30th to reflect the U.S. 10th Circuit Court of Appeal’s action to stay the injunction placed on
US DOE Announces IDR Adjustment To Forgive 804,000 Borrowers Due To Time In Repayment
What is the IDR Account Adjustment? A Multi-Step Approach to Fix Student Loan Repayment Tracking IDR Account Adjustment: On July 14th, 2023, the U.S. Department of Education announced the latest implementation of the multi-step approachto address longstanding failures associated with student loan pa
US SUPREME COURT RULES AGAINST DOE AUTHORITY TO IMPLEMENT BLANKET LOAN FORGIVENESS
Supreme Court Halts DOE Blanket Loan Forgiveness Court Halts DOE Forgiveness Court Halts DOE Forgiveness has sent shockwaves through the student loan community. On June 30th, 2023, the United States Supreme Court ruled against the Department of Education’s plan to implement a blanket student loan fo
Student Loan Covid Forbearance Ends As A Result Of Federal Budget And Debt Ceiling Compromise
Student Loan Forbearance Ends. Understanding Covid-19 On June 3rd, 2023, the President of the United States signed the Fiscal Responsibility Act of 2023 into law. This legislation officially ends the Covid-19 forbearance and prohibits the Secretary of Education from extending the suspension of stude
PSLF FORGIVENESS UPDATE: MOHELA IS SENDING APPROVAL LETTERS BY MAIL ONLY
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 s
U.S. Supreme Court Agrees To Hear Two Forgiveness Lawsuits In February, Ruling By June
Supreme Court Student Loan Decision Coming Soon Supreme Court Student Loan Ruling: What You Need to Know On Monday, December 12th, 2022, the U.S. Supreme Court announced it will review two challenges to the student loan forgiveness plan. Lower courts previously blocked the program. Oral arguments ar
U.S. DEPARTMENT OF EDUCATION CLARIFIES THE SENDING OF ERRONEOUS FORGIVENESS APPROVAL MASS EMAILS TO STUDENT LOAN BORROWERS, BLAMES “VENDOR ERROR”
Student Loan Forgiveness Error. Beginning Tuesday, November 22, 2022, over nine million student loan borrowers received emails confirming the approval of their student loan forgiveness applications—whether they had applied or not. Many borrowers who never submitted an application for the blanket for
Department Of Education Is Emailing Approval Letters For $10K and $20K With Forgiveness Still Blocked
Student Loan Forgiveness Update: Hope Credit Borrowers Student Loan Forgiveness Update on Student Loan Forgiveness Program On Tuesday, November 22nd, 2022, federal student loan borrowers began receiving emails from the Department of Education titled “Update on Student Loan Debt Relief and the Status
U.S. Department Of Education Extends Covid-19 Student Loan Forbearance Through August 29th, 2023 Or A Sooner Date To Be Determined
Covid Student Loan Pause On Tuesday, November 22, 2022, the U.S. Department of Education announced an extension of the Covid-19 student loan payment pause, which was previously scheduled to end on December 31, 2022. This extension allows Direct student loan borrowers to: Covid Student Loan Pause Whe
Department of Education is Currently Cancelling Debts for Borrower Defense to Repayment
Borrower Defense to Repayment: Department of Education Cancelling Student Loan Debt On Wednesday, November 16, 2022, the United States District Court for the Northern District of California approved a settlement regarding Borrower Defense to Repayment. This lawsuit, originally filed as Theresa Sweet