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TSAC also administers other state and federal student assistance programs, including the popular HOPE Scholarship program. The HOPE Scholarship is a lottery-funded merit-based award. Tennessee high school graduates qualify for this $4,000/year award by graduating from high school with a 3.0 GPA or an ACT test score of 21. The award is renewable ...
THEC is a combined agency with the Tennessee Student Assistance Corporation, the state financial aid agency, and the THEC Executive Director holds a dual appointment as leader of both entities. In recent years, THEC has emerged as a central leader for higher education efforts in the state, reinforced substantially by the Complete College ...
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In 2021, student loan servicers began dropping out of the federal student loan business, including FedLoan Servicing on July 8, Granite State Management and Resources on July 20, and Navient on September 28. [40] According to Sallie Mae, as of 2021, 1 in 8 families are using private student loans when federal financing does not cover all ...
The National Student Loan Data System (NSLDS) is the U.S. Department of Education’s (ED) central database for Federal Student Aid. [1] NSLDS receives data from schools, guaranty agencies, the Direct Loan program , and other ED programs.
For PLUS loans made before July 1, a variable rate applies (with a 9.00% cap). The House passed a resolution in May 2013 to tie student loan rates to free market loan rates. Every year, student loan interest rates will adjust to fit the market. subsidized and unsubsidized rates will cap at 8.5%. [4]
Each year Federal Student Aid's staff processes approximately 22 million FAFSAs. Additionally, Federal Student Aid is responsible for enforcing the financial aid rules and regulations required by the Higher Education Act of 1965 and the U.S. Department of Education and managing the outstanding federal student loan portfolio.