Student Loan Planner More Student Loan Companies Are Going Out of Business
May 24, 2022
38:36
The Federal Reserve realized they messed up: Inflation wasn’t only a temporary setback brought about by the pandemic. Monetary policy was left too loose for too long, and now it’s led to the worst inflation in 40 years. This is painful for businesses of all types, big and small—including student loan companies. Many of them have no choice but to pivot or phase out certain products, and some of them go out of business completely. Join me as I talk about the student loan servicers that have been forced to shut down and what all of this means for borrowers.
In today’s episode, you'll find out:
- Why the Fed messed up and what they’re doing about it
- How inflation measures up in today’s economy
- The pain student loan companies are facing
- How the changes are impacting borrowers going for forgiveness
- What to know about the Nelnet-Great Lakes merger
- What the multiple student loan pause extensions mean for companies
- What borrowers need to do to prepare for servicer changes
- How servicers could fight back against Congress
- Whether more student loan refinancing companies will shut down
- What I think about the student loan pause continuing
- About our latest updates on the IDR waiver and cancellation by Executive Order
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