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The former loan servicing arm of Great Lakes, the Great Lakes Educational Loan Services, Inc. guaranteed over $51 billion in loans under FFELP, and works with 6,000 schools, 1,100 lenders and 10,000,000 borrowers. [7]
For-profit schools appeal student loan cancelation settlement for 200,000 borrowers ... Three for-profit colleges appealed to block a settlement that would cancel more than $6 billion in student ...
Student loans may be discharged through bankruptcy, but this is difficult. [2] Research shows that access to student loans increases credit-constrained students' degree completion, later-life earnings, and student loan repayment while having no impact on overall debt. [3]
For instance, between 2010 and 2020 around 246,000 student loan borrowers were enrolled at 1,100 schools that closed. 43% of them did not complete their program before the closure and about 86% of ...
The pandemic-era relief provided by the student loan payment moratorium ended in 2023, and by 2024, borrowers were back in the routine of paying their college debt — with interest.
The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service. [1]
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