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In April 2022, the Education Department announced the one-time payment adjustment for all Direct Loans and federally owned Federal Family Education Loans (FFELs). The adjustment to student loan ...
No borrower making less than 225% of the federal poverty level will have to make a monthly payment. Loan balances will be forgiven after 10 years of payments — instead of 20 years — if the ...
The U.S. Department of Education is undertaking a student loan payment count adjustment that could result in additional time put toward your payment timeline as well as actual student loan ...
In 2022, the Department of Education announced a one-time payment adjustment that will count certain months toward student loan forgiveness for borrowers with an income-driven repayment (IDR) plan.
In 10 years, the loan program experienced 230% growth in the loan portfolio and 130% growth in the loan recipients. Student loan debt in 2019 is the highest it has ever been. According to the latest loan debt statistics, student loan debt has become the second highest consumer debt category behind mortgage debt. [15]
For PLUS loans made before July 1, a variable rate applies (with a 9.00% cap). The House passed a resolution in May 2013 to tie student loan rates to free market loan rates. Every year, student loan interest rates will adjust to fit the market. subsidized and unsubsidized rates will cap at 8.5%. [4]