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In 2010, the U.S. Department of Education announced stricter eligibility rules for federal financing of loans to student at for-profit schools, which were experiencing higher default rates. Student loans totaled more than $1.3 trillion, averaging $25,000 each for 40 million debtors. The debtors average age was 33.
In 2017, a federal endowment tax was enacted in the Tax Cuts and Jobs Act of 2017 in the form of an excise tax of 1.4% on institutions that have at least 500 tuition-paying students and net assets of at least $500,000 per student. The $500,000 is not adjusted for inflation, so the threshold is effectively lowered over time.
In 2021, student loan servicers began dropping out of the federal student loan business, including FedLoan Servicing on July 8, Granite State Management and Resources on July 20, and Navient on September 28. [41] According to Sallie Mae, as of 2021, 1 in 8 families are using private student loans when federal financing doesn't cover all college ...
Federal student loan rates have been rebounding since 2020’s big drop. From 2021 to 2025 alone, undergraduate Direct Loans have increased nearly 3 percent. Student loan rates from 202 0 -2025
Federal student loans. Private student loans. Interest rates. 5.50% to 8.05% for loans disbursed before July 1, 2024. 6.53% to 9.08% fixed for loans disbursed after July 1, 2024
Grove City College (GCC) is a private, conservative Christian liberal arts college [4] [5] in Grove City, Pennsylvania. [6] Founded in 1876 as a normal school, the college emphasizes a humanities core curriculum and offers 60 majors and six pre-professional programs with undergraduate degrees in the liberal arts, sciences, business, education, engineering, and music.
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