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The Free Application for Federal Student Aid (FAFSA) is a form completed by current and prospective college students (undergraduate and graduate) in the United States to determine their eligibility for student financial aid.
To be eligible for membership in the AUC Consortium, a college or university must be regionally accredited, maintain tax-exempt status, and pay a membership assessment. Morris Brown College was a member of the AUC Consortium until it lost its accreditation and federal funding in 2002 during the 1998–2002 tenure of Dr. Dolores E. Cross as ...
One way that has been suggested to help students with loan repayment is to lower interest on balances. U.S. Senator Richard Blumenthal urged, "We must reduce the student loan interest rate back to 3.4 percent immediately, and then even lower, and develop ways for past students to reduce and erase the $1 trillion in existing debt. The failure of ...
This is the only site where borrowers can sign up for student loan forgiveness. The official launch of the application portal follows a beta test that offered borrowers periodic access over the ...
Who qualifies for $20,000 in student loan debt forgiveness? Borrowers who received Pell Grants and make less than $125,000 as individuals or less than $250,000 as married couples are eligible to ...
Low-income students often prefer grants and scholarships over loans because of their difficulty repaying them. In 2004, 88.5% of Pell Grant recipients who had bachelor's degrees graduated with student loan debt. After college, students struggle to break into a higher income bracket because of the loans they owe.
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.
Student loan borrowers can now apply for what the Biden administration called "the most affordable repayment plan in history."The Education Department this week released an updated beta version of ...