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The William D. Ford Federal Direct Loan Program (also called FDLP, FDSLP, and Direct Loan Program) provides "low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education ... rather than a bank or other financial institution." [ 1]
Income-driven repayment. Income-based repayment or income-driven repayment (IDR), is a student loan repayment program in the United States that regulates the amount that one needs to pay each month based on one's current income and family size. The phrase is an umbrella term for four specific repayment plans that are available within the ...
In the United States, student loans are a form of financial aid intended to help students access higher education. In 2018, 70 percent of higher education graduates had used loans to cover some or all of their expenses. [ 1] With notable exceptions, student loans must be repaid, in contrast to other forms of financial aid such as scholarships ...
If you had FFEL and Perkins Loans not owned by the Education Department and applied to consolidate them into the federal direct loan program before Sept. 29, 2022, they are eligible for loan ...
The main benefits of federal student loan consolidation include: Longer repayment periods: If you need more cash in your pocket right now, consolidating your federal student loans may help you ...
As of September 29, 2022, borrowers with federal student loans not held by the Education Department are not eligible for debt relief by consolidating those loans into federal direct loans.
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