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In the 2009–2010 academic year, the loan limits for undergraduates were $5,500 per year with a lifetime maximum loan of $27,500. For graduate students, the limit was $8,000 per year with a lifetime limit of $60,000 (including undergraduate loans).
The Federal Direct Loan Program has accumulated a very large outstanding loan portfolio of about $1.5 trillion and this number will continue to rise along with the percentage of defaults. A common concern associated with the program is the effect on the economy and repercussions for students that must repay these loans.
Federal Student Aid's core mission is to ensure that all eligible Americans benefit from federal financial assistance—grants, loans and work-study programs—for education beyond high school. The programs Federal Student Aid administers comprise the nation's largest source of student financial aid: during the 2010–11 school year alone, Federal Student Aid provided approximately $144 ...
Federal financial aid includes federal grants, student loans and work-study programs. The financial aid limit for each program varies by school, year and more.
The U.S. Department of Education’s newly announced federal student loan interest rates for the 2024-25 academic year broke longstanding records. Experts and policymakers alike predicted a jump ...
Student loan defaults are disproportionately common in the for-profit college sector. [8] Around 2010, about 10 percent of college students attended for-profit colleges, but almost 40 percent of all defaults on federal student loans were to for-profit attendees. [9] The schools whose students have the highest amount of debt are University of Phoenix, Walden University, Nova Southeastern ...
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