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The U.S. Department of Education on Tuesday announced upcoming changes that will result in immediate debt cancellation for at least 40,000 federal student loan borrowers and move an additional 3.6...
July 1, 2024 at 6:14 PM. Sean Rayford/Getty Images. A federal appeals court will allow the Department of Education to proceed with lowering millions of student loan borrowers’ monthly payments ...
In an updated guidance in October 2022, the Department “maintained that borrowers who cross the 20 or 25-year threshold following the account adjustment would start receiving student loan ...
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]
In the United States, student loans are a form of financial aid intended to help students access higher education. In 2018, 70 percent of higher education graduates had used loans to cover some or all of their expenses. [ 1] With notable exceptions, student loans must be repaid, in contrast to other forms of financial aid such as scholarships ...
The recent end of President Joe Biden's federal student loan forgiveness plan at the hands of the U.S. Supreme Court has left millions of borrowers scrambling to come up with a strategy to begin...
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 ...
A student wears a money lei, a necklace made of US dollar bills, at a graduation ceremony in Pasadena, Calif., on June 14, 2019. (Photo by ROBYN BECK/AFP/Getty Images) (ROBYN BECK via Getty Images)