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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. [40] According to Sallie Mae, as of 2021, 1 in 8 families are using private student loans when federal financing does not cover all ...
But if the Department of Education (ED) were to close, it is possible that management of its current $1.7 trillion federal student loan portfolio would be moved to a different department or agency ...
The current loan service providers for the Federal Student Aid (FSA) program are: Great Lakes Educational Loan Services, Edfinancial, MOHELA, Aidvantage, Nelnet, OSLA Servicing, ECSI, and the ...
Those include protections and programs for student-loan borrowers, reports on Trump's plan to eliminate the Education Department, and oversight of the student-loan industry.
The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service. [1]
FedLoan Servicing, one of the nation’s largest federal student loan servicers, ended its contract with the Department of Education in 2021. As a result, millions of student loan borrowers were ...