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In 2007-08, FFEL served 6.5 million students and parents, lending a total of $54.7 billion in new loans (or 80% of all new federal student loans). Since 1965, 60 million Americans have used FFEL loans to pay for education expenses.
Student loans may be discharged through bankruptcy, but this is difficult. [2] Research shows that access to student loans increases credit-constrained students' degree completion, later-life earnings, and student loan repayment while having no impact on overall debt. [3]
Currently, 45 million people are carrying student loan debt, adding up to about $1.7 trillion total. Many borrowers might feel like they're drowning; some can't imagine a future where all their ...
An education loan is a loan taken out by the student (or parent) to pay for educational expenses. Unlike scholarships and grants, this money must be repaid with interest. Educational loan options include federal student loans, federal parent loans, private loans, and consolidation loans.
There are few topics more likely to rile up a dinner table conversation than student loans. And it’s no secret that, this year, the issue is weighing extra heavily on many people. (In fact ...
The plans aimed to cancel some student debt for over 38 million borrowers. President Joe Biden's administration has officially scrapped its unfinished rules for broad student-loan forgiveness .