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The page provides detailed steps you can take toward a “borrower defense to repayment,” which basically means you have legal grounds to discharge federal student loans if your school misled ...
This CFPB page lists sample letters that can help you take the following actions: Cancel automatic payment withdrawals. You can send a letter to your student loan servicer revoking your ...
With federal student loan payments set to resume in 2023 following a two-year pause, and extension made by the Biden administration, millions of borrowers will soon have another budget expense to ...
The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service. [1]
With federal student loan payments set to resume on Sept. 1 following a two-year pause, millions of borrowers will soon have another budget expense to deal with -- unless they can find other ...
Defaulting on a loan happens when repayments are not made for a certain period of time as defined in the loan's terms of agreement, typically a promissory note. For federal student loans, default requires non-payment for a period of 270 days. For private student loans, default generally occurs after 120 days of non-payment. [1]
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.
Getting rid of federal student loan debt has just become easier — in many cases automatic — for borrowers with qualifying disabilities. The U.S. Department of Education announced that it will ...