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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]
As of 2021, approximately 7.8 million Americans from 18 to 25 carry student loan debt, with an average balance of almost $15,000. [64] For adults between the ages of 35 and 49, the average individual balance owed exceeded $42,000. The average debt for adults between 50 and 61 is slightly lower.
Website. www.mohela.com. The Higher Education Loan Authority of the State of Missouri, also known as the Missouri Higher Education Loan Authority or MOHELA is one of the largest holders and servicers of student loans in the United States. Its headquarters are in St. Louis, Missouri. Created in 1981 as a quasi-governmental entity, MOHELA ...
July 30, 2023 at 6:29 AM. Many student loan borrowers may be surprised they have a different loan service provider when payment pause lifts this fall. That could complicate restarting their ...
If you have questions about your Aspire student loan account, you can contact the servicer in a few ways. The loan servicer’s customer service team is available from 8 a.m. to 6 p.m. CT Monday ...
The fixed interest rate is calculated as the weighted average of the interest rates of the loans being consolidated, assigning relative weights according to the amounts borrowed, rounded up to the nearest 0.125%, and capped at 8.25%. Some features of the original consolidated loans, such as postgraduation grace periods and special forgiveness ...
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