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She can't get payment relief on her $137,000 in private student loans ...
She can't get payment relief on her $137,000 in private student loans. It's a warning for millions of federal borrowers. By Ayelet Sheffey You're currently following this author! Want to unfollow? Unsubscribe via the link in your email. Private student-loan lenders are expecting an influx of federal borrowers after coming repayment changes. sengchoy/Getty Images 2026-04-19T09:05:01.244Z Samantha Ferguson, 40, has $137,000 in private student loans. She's struggling to get payment relief after losing her job. More federal borrowers are expected to turn to private lending due to Trump's repayment changes. When Samantha Ferguson applied to university in 2003, she turned to private student loans to finance her education. That's because she wanted to study politics in Scotland and couldn't get federal student loans to study abroad. So she borrowed just over $104,000 from Sallie Mae, a major private student-loan lender.Ferguson graduated in 2008. Now 40, she's paid $200,000 toward her loan — and still has a $137,000 balance."They're so debilitating, so crippling," Ferguson said of her loans. "I don't mind that I borrowed money to go to university, but what I've looked at in turn is that I've paid back nearly double what I've borrowed."High interest rates coupled with interest capitalization, where unpaid interest is added to the principal, are the main reasons for Ferguson's ever-growing balance. Making things worse, she was recently "made redundant" at her job and has been asking MOHELA — which took over servicing her loans — for relief on her $1,500 monthly payments. She hasn't succeeded in getting lower payments or a payment pause. Both federal and private borrowers struggle with repaying student-loan balances because of high interest rates. However, private student loans lack affordable repayment plans and the possibility of federal loan forgiveness. Those differences are critical, especially with more federal borrowers expected to turn to private lending once President Donald Trump's repayment overhaul goes into effect in July.Ferguson worked in media in the United Kingdom and earned about $116,000 a year before losing her job. She said that with student loans and other expenses, she hasn't built any savings or retirement funds. When trying to secure lower payments from her lender, Ferguson said she has received conflicting information from customer service representatives about her available options, making it hard to understand her next steps.MOH...
H.R. 423: Private Student Loan Bankruptcy Fairness Act of 2025
To amend title 11 of the United States Code to modify the dischargeability of debts for certain educational payments and loans.The bill’s titles are written by its sponsor. History Date Action April 15, 2010 Earlier Version — Introduced This activity took place on a related bill, H.R. 5043 (111th). May 26, 2011 Earlier Version — Introduced This activity took place on a related bill, H.R. 2028 (112th). Feb. 6, 2013 Earlier Version — Introduced This activity took place on a related bill, H.R. 532 (113th). March 26, 2015 Earlier Version — Introduced This activity took place on a related bill, H.R. 1674 (114th). May 18, 2017 Earlier Version — Introduced This activity took place on a related bill, H.R. 2527 (115th). Jan. 30, 2019 Earlier Version — Introduced This activity took place on a related bill, H.R. 885 (116th). Aug. 3, 2021 Earlier Version — Introduced This activity took place on a related bill, H.R. 4907 (117th). Jan. 9, 2023 Earlier Version — Introduced This activity took place on a related bill, H.R. 138 (118th). Jan. 15, 2025 Introduced Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber. Read Text » If this bill has further action, the following steps may occur next: — Passed Committee — Passed House — Passed Senate — Signed by the President H.R. 423 is a bill in the United States Congress. A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law. Bills numbers restart every two years. That means there are other bills with the number H.R. 423. This is the one from the 119th Congress. How to cite this information. We recommend the following MLA-formatted citation when using the information you see here in academic work: “H.R. 423 — 119th Congress: Private Student Loan Bankruptcy Fairness Act of 2025.” www.GovTrack.us. 2025. April 19, 2026 show another citation format: APA Blue Book Wikipedia Template Where is this information from? GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.
Millions of student loan borrowers will soon have to choose a new ...
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A survey of student loan burden among United States Chiropractors
At survey completion, 85% retained student loan debt, averaging $232,062 ($102,691) with a median of $240,000 ($177,500–$290,000). Mean (SD) gross income in ...
