defaulted federal student loans

New federal student loan rules under the One Big Beautiful Bill Act take effect July 1, significantly limiting repayment and forgiveness options for new borrowers. Parent PLUS borrowers and those seeking consolidation will face even stricter limitations, losing access to crucial protections and established plans.

The Supreme Court has ruled that criminal proceedings against loan defaulters must cease if a settlement is reached with the bank. Such actions, the court stated, are oppressive and abuse judicial processes, potentially harming the economy. Allowing banks to pursue criminal cases after a compromise undermines settlement sanctity and discourages dispute resolution.

Caps Relief To Rs 50,000 For 2019 Beneficiaries

The falling rupee is making already-expensive foreign degrees even harder to pay for. Demand for top-up education loans has jumped nearly 3x in a year

A woman who took a Rs 50 lakh loan for her master's abroad shared her experience, highlighting the brutal London job market and her successful repayment in Dubai. She emphasized that the personal growth and life lessons gained were invaluable, outweighing the financial aspects and encouraging informed decisions beyond just numbers.

A district consumer commission has ordered the Central Bank of India to pay ₹2.5 lakh compensation for losing a crucial land title document deposited as security for a loan. The bank's negligence prevented the property owner from fully exercising her rights, impacting her ability to secure further loans and realize the property's full value.

Missing home loan EMIs triggers a legal process, potentially leading to property auction. After 90 days of non-payment, your loan becomes an NPA. Lenders then issue a 60-day demand notice under SARFAESI Act. Failure to pay allows banks to take possession and auction the property, but borrowers can settle dues anytime before sale completion.

The matter was heard by a Bench of Justice Ahsanuddin Amanullah and Justice R. Mahadevan in a Special Leave Petition filed by M/s Bhaskar International Private Limited and others against SBI. M/s Bhaskar International Private Limited v. State Bank of India

The average rate for a 30-year fixed mortgage eased to 6.48% last week, offering slight relief to homebuyers. This decline follows a recent climb to a nine-month high, influenced by inflation concerns and elevated oil prices. Despite the dip, rates remain higher than earlier this year, continuing to impact the challenging housing market.