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The William D. Ford Federal Direct Loan Program (also called FDLP, FDSLP, and Direct Loan Program) provides "low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education ... rather than a bank or other financial institution." [ 1]
Student loan repayment assistance programs can offer employees tax-free benefits up to $5,250. Employer programs offer different types of assistance, including signing bonuses, recurring payments ...
The Department of Education’s Federal Student Aid (FSA) office gives the example of a 10-year loan of $15,000 with a 4.9% interest rate. By paying just $15 extra every month, the borrower saves ...
Income-based repayment. Income-based repayment or income-driven-repayment (IDR) is a student loan repayment program in the United States that regulates the amount that one needs to pay each month based on one's current income and family size.
The Higher Education Relief Opportunities For Students (HEROES) Act ( Pub. L. 108–76 (text) (PDF)) was legislation passed unanimously by the United States Congress and signed into law by President George W. Bush on January 16, 2002. It was extended and amended in 2003, extended in 2005, and made permanent in 2007.
Student loan payments resumed on Oct. 1 after a three-year hiatus and are impacting many Americans' wallets. With the average monthly student loan payment at $503, according to the Education Data...
As a comparison, Biden’s student loan forgiveness program was expected to cost about $400 billion. The SAVE repayment plan has gone through a formal rulemaking process at the Department of ...
Employer student loan contributions. Employer student loan contributions are a type of employee benefit in the United States. With this benefit, employers pay back student loans on behalf of employees, at certain amount per month as decided by the employer. Companies are using this benefit as a way to attract and retain employees, especially ...