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On Wednesday, the federal Education Department approved $4.5 billion in student loan forgiveness for 261,000 former Ashford University students. In last major batch of student loan relief, Biden ...
The program replaced the earlier Federal Family Education Loan (FFEL) program which issued "guaranteed loans" — loans originated and funded by private lenders but guaranteed by the government. The FFEL program was eliminated because of a perception that it benefited private student loan companies at the expense of taxpayers, but did not help ...
In 2022, Williams College became the first institution of higher education in the United States to eliminate both loans and work-study contributions from their financial aid programs. Many of these programs are aimed at students whose parents earn less than a certain income — the figures vary by college or university.
Some states have their own loan programs, as do some colleges. [56] In almost all cases, these student loans have better conditions than private loans. [57] Student loans may be used for college-related expenses, including tuition, room and board, books, computers, and transportation.
Biden announced more student-loan forgiveness for borrowers, likely marking his last debt relief efforts.
In 2023 the agency canceled loans for an initial 2,300 former Ashford students who applied for relief through the borrower defense program. The new action expands forgiveness to all former ...
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