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Eliminating 'Cycle Of Debt': New NY Law Prohibits Fees On Outstanding Student Loans Eliminating 'Cycle Of Debt': New NY Law Prohibits Fees On Outstanding Student Loans
Eliminating 'Cycle Of Debt': New NY Law Prohibits Fees On Outstanding Student Loans Some financial relief has arrived for those with student loan debt from New York colleges. Gov. Kathy Hochul signed a new law Thursday, Oct. 13, that prohibits state agencies from charging students an additional fee when collecting outstanding student debt. Under a previous state law, borrowers were charged up to 22 percent in fees on top of the amounts they owed, the governor’s office said. "When students across New York spoke up about the difficulties of digging out of debt, my administration listened," Hochul said in a statement. I’ve signed legislation eliminating additional fees…

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by Michael Mashburn
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NY To Have $110M In Student Debt Canceled As Part Of $1.85B Settlement NY To Have $110M In Student Debt Canceled As Part Of $1.85B Settlement
NY To Have $110M In Student Debt Canceled As Part Of $1.85B Settlement New Yorkers will have millions of dollars in debt canceled after one of the nation’s largest student loan services agreed to relieve $1.85 billion in loan debt as part of a multi-state agreement, authorities announced. Navient, the target of a bipartisan coalition of 39 attorneys general agreed to cancel $1.7 billion in private student loan debt and offered $95 million in restitution for thousands of students nationwide following an investigation into the company's business practices. New York Attorney General Letitia James announced the agreement on Thursday, Jan. 13, which will include mo…

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by Zak Failla