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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 ...
Cohort default rate. A cohort default rate (CDR) is an accountability metric for US colleges that are eligible for federal Pell Grants and student loans. It measures the percentage of a school's borrowers who enter repayment on federal student loans during a federal fiscal year (October 1 to September 30) and default in the next three years. [1]
A defaulted student loan happens when the borrower does not make payments on their student loan, often for a few months or more. Having a student loan in a default state can have serious ...
Debt and delinquencies could rise. About 40 percent of borrowers missed their first student loan payment in October 2023, according to the Department of Education. Though late or missed payments ...
3. Federal Student Loan Consolidation. Consolidating your federal student loans offers another pathway to get out of student loan default. With a Direct Consolidation Loan, you’ll pay off one or ...
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