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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 Education Department is reopening two student loan repayment plans while another remains ... borrowers don’t have to make any loan payments if they live alone and make less than $22,590 a ...
Whether you borrowed from the Department of Education or a private lender, you agreed to a legally-binding contract outlining how and when you would repay your debt. That’s the MPN.
In the news. As of July 19, 2024, all student loan payments under the SAVE Plan has been put on hold due to an ongoing appeals process as Republican-led states challenge the plan’s legality.
Meanwhile, student loan servicers for federally held student loans from the U.S. Department of Education will wait until your payments are 90 days late before reporting your missed payments ...
In 2024, the U.S. Department of Education announced it was withholding $161,000 in payments from EdFinancial. The Department found that three student loan servicers, Aidvantage, EdFinancial, and Nelnet all failed to meet contractual obligations to send timely billing statements to a combined total of 758,000 borrowers. [3]
Following the resumption of student loan payments in October 2023, MOHELA was fined by the DOE for failing to send billing statements to student loan borrowers on time. [9] In 2023, The Guardian reported that MOHELA "stands out among servicers for late bills and incorrect auto-debits." [7]
Democrats are also pushing the Department of Education to make it easier for about 8 million borrowers who are enrolled in a plan that’s currently on hold due to litigation to make payments and ...
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