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The Federal Student Aid office announced 200,000 FAFSA applicants received incorrect financial aid packages that need to be recalculated and resubmitted to college financial aid offices.
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.
Although borrowers were granted a stay of student loan payment since the start of the pandemic in March of 2020, many vulnerable borrowers will struggle to pay their bills when payments resume on...
The federal government does not distribute aid directly to the student or the student's family; it goes through the college. Colleges use the student's federal student aid eligibility and combine it with state financial aid (if any) and their own aid to create a financial aid package for the student.
Additionally, they can contact the Federal Student Aid Information Center at 800-433-3243 or check their credit reports to find out who their new servicer is.
President Obama's 2015 budget proposed substantial changes to the Pay as You Earn program. In addition to extending the program to all borrowers, regardless of when their first loans were disbursed, it proposed certain limits to PAYE that are designed to "protect against institutional practices that may further increase student indebtedness, while ensuring the program provides sufficient ...
if you are looking to refinance federal student loans please be aware of recent legislative changes that have suspended all federal student loan payments and waived interest charges on federally ...
The amount of military aid a student receives for a college education does not defer eligibility or reduce the amount of student aid that student could receive from the four federal grant programs – Pell, SMART, FSEOG, and TEACH – and many of the state student aid programs. Student Aid and Fiscal Responsibility Act (SAFRA) of 2010 changed ...