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At that time, there were 53 College Promise Programs in place. By 2017, 16 states had at least one statewide College Promise program. [1] A year later, the College Promise movement grew to over 300 programs in 24 states. [8] As of September 2019, it was observed that there are over 320 College Promise Programs in 47 states nationwide. [9]
Federal Perkins Loan (Perkins Loan) Program: This is a school-based loan program for eligible students with exceptional financial need. Students may qualify for a Perkins Loan of up to $8,000 each year depending on financial need, the amount of other aid received, and the availability of funds at the school.
The program replaced the earlier Federal Family Education Loan (FFEL) program which issued "guaranteed loans" — loans originated and funded by private lenders but guaranteed by the government. The FFEL program was eliminated because of a perception that it benefited private student loan companies at the expense of taxpayers, but did not help ...
Under President Biden's student loan forgiveness program, individual borrowers who earned less than $125,000 in 2020 or 2021 will see up to $10,000 or $20,000 of their federal student loan debt...
Beyond the closed school discharge, the department offers another potential route to loan forgiveness for students who feel like their school misled them about its education program before it ...
In March 2020, the CARES Act passed by Congress included a pause on federal student loans repayments and interest until September 30, 2020. [8] On August 8, 2020, the Trump administration issued a memorandum instructing the Secretary of Education to pause on student loan payments and interest through December 31, 2020 using the authority ...
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