Annie Nova, CNBC

President Donald Trump said Friday that the Small Business Administration, instead of the U.S. Department of Education, would handle the country’s federal student loan portfolio. “We have a portfolio that is very large, lots of loans, tens of thousands of loans, pretty complicated deal,” Trump said, […]

Figuring out how to keep up with monthly student loan payments is one of the many challenges for those who have lost their job. Many more people are now facing that headache. Job cuts are on the rise, fueled in part by terminations of federal

Federal student loan borrowers experiencing difficulties with their loans could find they have no recourse as President Donald Trump’s cuts to staff at the Department of Education are carried out, employees at the agency said. Staffers at the Education Department tasked

As the Trump administration overhauls the student loan system, many borrowers pursuing the Public Service Loan Forgiveness program are worried about its future. “There’s a lot of panicking by PSLF borrowers due to the uncertainty,” said higher education expert Mark Kantrowitz. PSLF, which President

The Biden administration has withdrawn two major plans to deliver student loan forgiveness. The proposed regulations would have allowed the secretary of the U.S. Department of Education to cancel student loans for several groups of borrowers, including those who had been in repayment for decades

A “faulty” transfer of student loan accounts from Nelnet to Mohela in 2023 led to “millions of consumer credit reporting errors,” lawmakers say in a new letter to government agencies reviewed by CNBC. The change in loan servicers caused nearly 2 million duplicate student loan records

With weeks to go before President-elect Donald Trump takes office, the Biden administration is still taking steps to deliver sweeping student loan forgiveness to millions of Americans. The U.S. Department of Education has submitted its so-called “Plan B” for student loan cancellation to the Office of

The economy is doing “exceptionally well” as President-elect Donald Trump gets ready to enter the White House, according to Moody’s Analytics chief economist Mark Zandi. Zandi, speaking at the Consumer Federation of America’s financial services conference on Wednesday, noted some of the glowing areas: Gross domestic

Investors wondering if the presidential election may usher in a bad or good time for the stock market won’t find any easy answers looking at the past. One year after President Joe Biden won the presidency in 2020, the S&P 500 was up more than

Lenders often encourage federal student loan borrowers to enroll in automatic payments. It can seem like a good idea to do so: Borrowers don’t need to worry about missing a payment and often get a slightly lower interest rate in exchange. However, the decision can