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Student Loan Forgiveness: ... These regulations will allow borrowers to receive credit toward PSLF on payments that are made late, in installments, or in a lump sum, while prior rules only counted ...
In documents withdrawing the student loan proposals, the Education Department insisted it has the authority to cancel the debt but sought to focus on other priorities in the administration’s ...
The Biden administration announced on Oct. 25 executive actions that will bring most loans managed by the Education Department "closer to forgiveness," the Department of Education declared. One ...
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 ...
In the news. As of July 19, 2024, all student loan payments under the SAVE Plan has been put on hold due to an ongoing appeals process as Republican-led states challenge the plan’s legality.
Each year Federal Student Aid's staff processes approximately 22 million FAFSAs. Additionally, Federal Student Aid is responsible for enforcing the financial aid rules and regulations required by the Higher Education Act of 1965 and the U.S. Department of Education and managing the outstanding federal student loan portfolio.