Congrats on finishing the year off on a strong note! As you head into 2023, we at Common $ense wanted to share some financial resources so that you can spend the rest of the holiday season and the new year making smart financial decisions.

But first, let’s quickly recap what C$ has accomplished this semester.

The Semester Through C$ Events

Tabling @ Red Square

C$ x CMEA Personal Finance Workshop

C$ x BlackGen Investing Workshop

Study Break @ Lau 2

Updates on Student Loan Debt Relief

Correction to Previous Email Notification

In November, the Department of Education erroneously sent out emails to 9 million student loan borrowers with the subject line “Your Student Loan Debt Relief Application Has Been Approved”. The correct subject line should be “Update on Student Loan Debt Relief and the Status of Your Application”, as a number of lawsuits are filed challenging the legality of student loan debt relief. At this point, no further student loan relief applications can be processed or approved unless given explicit instruction from a court. Rest assured, however, that the content of the initial email is accurate. All eligible borrowers have been sent another follow-up email clarifying that the initial email was sent in error. If you received both emails, your application has been received by the Department of Education and there is no further action you need to take at this time.

Source: US Department of Education (11/23/22), CNBC (12/16/22)

Student Loan Payment Pause Extended

With an appeal filed by the Department of Justice on behalf of the Biden-Harris administration, the Supreme Court has agreed to take up the case and will hear oral arguments February 2023. In the meantime, all federal student loan principal and interest payments have been paused. Collection will resume 60 days after the Supreme Court makes a decision on the case. If no decision has been made by 6/30/2023, then collection will resume 60 days after that. Borrowers will be notified via email when collection resume.

Source: US Department of Education (12/23/22)

Bits of FinLit

What Makes Up Your Credit Score?

Student Loan Refinancing 101

Want to learn more about student loan refinancing? Check out our Instagram post on this topic!

Thank you for being a part of our Common $ense Community this year. We hope to see you again next semester!