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Student loans totaled more than $1.3 trillion, averaging $25,000 each for 40 million debtors. The debtors average age was 33. Forty percent of the debt was owed by people 40 or older. [37] In a 2017 report by the National Center for Education Statistics, the researchers found that 27% of all student loans resulted in default within 12 years. [33]
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 ...
During the pandemic, the Department of Education (ED) paused student debt payments. While payments resumed in October 2023, the ED created an on-ramp period to provide an extra year of flexibility.
With student loan forgiveness still uncertain, borrowers can expect more changes -- and perhaps some potholes -- on the road to paying down student loan debt. As part of the Biden administration's...
Following the Supreme Court's 6-3 decision to strike down President Biden's student loan relief program, the administration has announced a Plan B entailing several new steps. Explore: Student Loan...
FSA manages outstanding federal student loans, so there's a lot at stake when it comes to errors made over the years. And as of June 1, 2021, according to the GAO report, around 7,700 student ...
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