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But if the Department of Education (ED) were to close, it is possible that management of its current $1.7 trillion federal student loan portfolio would be moved to a different department or agency ...
On Friday, the Department of Education announced that it will begin discharging student loan debts for borrowers who’ve been in repayment for 20-25 years under a one-time payment adjustment ...
And the fear is that if the Department of Education is eliminated, future college attendees will have more limited options in the context of borrowing to fund their studies.
The U.S. Department of Education Office of Inspector General calculated that the portion of total Direct Loan volume being repaid through IDR plans has increased 625 percent from the FY 2011 loan cohort ($7.1 billion) to the FY 2015 loan cohort ($51.5 billion).
The U.S. Department of Education administers federal student aid programs such as Pell Grants, direct loans and work-study programs. These initiatives help students afford to attend college and ...
The U.S. Department of Education contracts with companies to manage, or service, the loans it owns. These companies are the primary point of contact for borrowers after they graduate and enter repayment. A student loan servicer is a company which facilitates different aspects of a loan.
The Education Department clarified this month that the adjustment will look at loans in repayment since July 1, 1994, that are still owed by the borrower or included in a consolidation loan by the ...
FedLoan Servicing, one of the nation’s largest federal student loan servicers, ended its contract with the Department of Education in 2021. As a result, millions of student loan borrowers were ...
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