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A new study shows health disparities cost Texas billions of dollars; Senate rejects impeachment articles against Mayorkas, ending trial against Cabinet secretary; Iowa cuts historical rural school groups.

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The Senate dismisses the Mayorkas impeachment. Maryland Lawmakers fail to increase voting access. Texas Democrats call for better Black maternal health. And polling confirms strong support for access to reproductive care, including abortion.

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Rural Wyoming needs more vocational teachers to sustain its workforce pipeline, Ohio environmental advocates fear harm from a proposal to open 40-thousand forest acres to fracking and rural communities build bike trail systems to promote nature, boost the economy.

Student loan consolidation deadline could save older NV borrowers big

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Wednesday, February 21, 2024   

Student loan borrowers of all ages in Nevada and around the country have an opportunity to have their student loans canceled or the chance to receive credit toward loan forgiveness, but action will be needed soon.

The U.S. Department of Education will be conducting a one-time payment count adjustment this coming summer.

Cora Hume, attorney for the Consumer Financial Protection Bureau, said student loan debt does not discriminate. The average student loan debt for the more than 50,000 older borrowers in the Silver State is just under $44,000, according to the Education Data Initiative.

Hume pointed out borrowers who have non-federally held loans must consolidate them into a direct-consolidation loan with the Department of Education by April 30 to reap the potential benefits.

"Older borrowers are less likely to hold direct loans, which would already benefit from this pay count adjustment," Hume explained. "Those that do owe direct loans, they're less likely to participate in this IDR (Income Driven Repayment) program that caps their monthly payment based on family size and income."

Hume noted the Department of Education will give borrowers credit through its Income Driven Repayment program for repayment periods from July 1, 1994. She added 32% of older borrowers are struggling to pay their bills which is why she encourages borrowers to call 1-800-433-3243 or visit StudentAid.gov/loan-consolidation to find out if they are eligible for the significant adjustment.

Hume emphasized nationally there are 1.1 million older borrowers who are not in the direct loan program, and hold an average debt of $29,500 in student debt.

"The three loans that must be consolidated to receive this payment count adjustment are the commercially managed Federal Family Education Loan, Health Education Assistance loans and Perkins loans," Hume outlined. "Another loan that's sort of a quasi for consolidation are Parent PLUS loans."

Hume added the upcoming deadline has the potential to "change lives," and suggested taking action sooner rather than later.


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