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Federal student loan interest rates are fixed for the life of the loan; however, the rates for new loans will change annually, based on the current market. The interest rates for the 2013–2014 academic year are as follows: 3.86% for undergraduate Stafford Loans (both subsidized and unsubsidized) 5.41% for graduate Stafford Loans [6]
Federal Stafford Loans are made to students and PLUS Loans are made to parents through the William D. Ford Federal Direct Loan (Direct Loan) Program: Eligible students and parents borrow directly from the federal government at participating schools. Direct Loans include Direct Stafford Loans, Direct PLUS Loans, and Direct Consolidation Loans.
Student loans in the U.S. Regulatory framework National Defense Education Act Higher Education Act of 1965 HEROES Act U.S. Dept. of Education · FAFSA Cost of attendance · Expected Family Contribution: Distribution channels Federal Direct Student Loan Program Federal Family Education Loan Program: Loan products Perkins · Stafford PLUS ...
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They qualify for discharge of Stafford, Perkins, and Federal Family Education Loan Program loans up to $77,500. [ 69 ] Any person employed full-time by a 501(c)(3) non-profit group, or another qualifying public service organization, or serving in a full-time AmeriCorps or Peace Corps position, [ 70 ] qualifies for discharge after 120 qualifying ...
Even though the U.S. Supreme Court struck down President Biden's proposal for student loan forgiveness, more than 43 million Americans with student loan debt could still benefit from a different,...
Direct Consolidation Loan: You could look to consolidate your Aspire-serviced federal loans into one new federal debt with the loan servicer of your choice. Your overall interest rate wouldn’t ...
Direct PLUS Loan: The direct PLUS loan is a federal loan that graduate or professional students and parents of undergraduate students can use to pay for their education. These loans can be used to help pay for education expenses not covered by financial aid. The Direct PLUS loan is not based on financial need, but credit is necessary.
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