Student loan debt

Older bank-owned loans, part of the Federal Family Education Loan Program, are repackaged into bonds that trade in the asset-backed securities market.

The company reached an agreement with 39 states to pay $1.85 billion to resolve claims that it had used predatory lending practices.

In no other industry would a debt-financed investment that's the equivalent of going to medical school be considered the same as a film-studies degree.

Dana Wade, a former OMB official, says a strong capital footing will help the Federal Housing Administration weather an uptick in delinquencies and ensure the mortgage market is viable once the economy recovers.

Credit card balances declined most sharply as consumers cut back their spending due to the coronavirus pandemic and associated shutdown orders, the New York Fed said Thursday. But delinquencies also fell across all debt categories, thanks to government and lender relief efforts.

The fixed-rate loans from Earnest involve refinancings to advanced degree professionals who have greater financial means to make payments despite the economic disruption caused by the COVID-19 pandemic.

The two agencies said they will exchange student loan complaint data after their information-sharing efforts had been in limbo for over two years.

Democracy Forward filed the lawsuit Monday against the consumer bureau, Director Kathy Kraninger, the U.S. Department of Education and Education Secretary Betsy DeVos.

In her second day of congressional testimony, Kathy Kraninger took heat from Senate Democrats for weighing in on constitutional questions about her agency and for her enforcement track record.

The idea of forgiving student debt has gained traction in the Democratic presidential debates. Undiscussed so far: the significant impact any program could have on the roughly $175 billion of securities backed by student loans.