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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]
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 ...
A closely related issue is the increase in students borrowing to finance college education and the resulting in student loan debt. In the 1980s, federal student loans became the centerpiece of student aid received. [48] From 2006–2012, federal student loans more than doubled and outstanding student loan debt grew to $807 billion. [48]
The largest is a $145 billion increase that’s partly due to changes the Biden administration made to student loan repayment plans and a new, proposed forgiveness program that would waive some ...
The U.S. Department of Education on Tuesday announced upcoming changes that will result in immediate debt cancellation for at least 40,000 federal student loan borrowers and move an additional 3.6...
You have variable-rate loans: Student loans could become more expensive over the next few years due to rate hikes from the Federal Reserve. You may choose to refinance into a fixed-rate loan now ...
Educational inflation is the increasing educational requirements for occupations that do not require them. Credential inflation is the increasing overqualification for occupations demanded by employers. [ 1][ 2] A good example of credential inflation is the decline in the value of the US high school diploma since the beginning of the 20th ...
In an updated guidance in October 2022, the Department “maintained that borrowers who cross the 20 or 25-year threshold following the account adjustment would start receiving student loan ...