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A Federal Perkins Loan, also referred to as a Perkins Loan, was a need-based student loan offered by U.S. Department of Education from 1958 until 2017. [1] Created as part of the Federal Direct Student Loan Program, the Perkins Loan served to assist American college students fund their post-secondary education.
Funding for new direct loans in the Federal Direct Student Loan Program increased from $12.6 billion in 2005 to $17.8 billion in 2008. [7] President Barack Obama organized all new loans under the Direct Loan program by July 2010.
In 2021, student loan servicers began dropping out of the federal student loan business, including FedLoan Servicing on July 8, Granite State Management and Resources on July 20, and Navient on September 28. [40] According to Sallie Mae, as of 2021, 1 in 8 families are using private student loans when federal financing does not cover all ...
The presidents of Northeastern, Tufts, and Boston universities have banded together with other college heads to lobby President Obama to preserve funding for the Federal Perkins Loan Program ...
Federal student loan forbearance allows you to skip your student loan payments for a given time or temporarily make a smaller payment. The catch: Interest will still accrue on your balance ...
Federal student loans are distributed by the federal government and assigned to a lender through the Department of Education. When you complete your FAFSA, you’re also applying for need-based ...
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