Search results
Results from the WOW.Com Content Network
Graduate PLUS is a type of federal student aid, in the form of student loans, which is available to graduate and professional students. [1] Similar to the Parent PLUS loan for parents of dependent undergraduate students , the Graduate PLUS loan is an unsubsidized federally guaranteed education loan with no annual or aggregate limits.
The US first major government loan program was the Student Loan Marketing Association (Sallie Mae), formed in 1973. [19] [clarification needed] Before 2010, federal loans included: loans originated and funded directly by the Department of Education (ED) government guaranteed loans originated and funded by private investors.
However, FedLoan stopped servicing federal student loans after December 2022 and the Department of Education then transferred the loans it was servicing to Nelnet, Edfinancial, Aidvantage or MOHELA.
In August 2022, the administration used the Act again to announce student debt cancellation of up to $20,000 and several other reforms. [7] [16] Following litigation brought by several Republican-led state governments, the Supreme Court ruled in Biden v. Nebraska (2023) that the statute did not permit the administration's debt forgiveness ...
Default rates on student loans were found to be higher for women than for men. [36] Borrowers entering repayment after their sophomore year are more likely to default. [37] Loans to graduate and professional students are especially profitable because of high-interest rates and low default rates. [38]
The adjustment to student loan accounts would go toward helping borrowers get closer to discharge under income-driven repayment plans, which offer discharge after 20 or 25 years of repayment ...
In 2021, it was reported that some FedLoan (Pennsylvania Higher Education Assistance Agency) student servicing loans were transferred to MOHELA. [5] MOHELA became the sole servicer for the Public Service Loan Forgiveness (PSLF) program in July 2022, following the decision of FedLoan to break its ties with the Department of Education. [6]
The student loan forgiveness plan announced last week by the Biden administration provides sweeping relief to federal student loan borrowers in the form of both canceled debt and an extension of ...