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The National Student Loan Data System (NSLDS) is the U.S. Department of Education’s (ED) central database for Federal Student Aid. [1] NSLDS receives data from schools, guaranty agencies, the Direct Loan program , and other ED programs.
About 26 million federal student loan borrowers have applied for forgiveness under the Biden administration's debt relief program, the White House announced on Wednesday. When and if those ...
Even though borrowers have until Dec. 31, 2023, to apply for student loan forgiveness, many are not waiting to start the application process. By applying now, borrowers who received Federal Pell...
Loan servicing covers everything after disbursing the funds until the loan is fully paid off. Loan origination is a specialized version of new account opening for financial services organizations. Certain people and organizations specialize in loan origination. Mortgage brokers and other mortgage originator companies serve as a prominent example.
Subprime mortgage loans have a much higher rate of default than prime mortgage loans and are priced based on the risk assumed by the lender. Alt-A loans are generally prime (i.e., FICO credit scores of 680 or higher) or near-prime (i.e., FICO credit scores from 620 - 679) loans with some form of reduced documentation requirements (e.g ...