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By applying now, borrowers who received Federal Pell Grants and meet the income requirements can receive up to $20,000 in debt relief from the U.S. Department of Education. Student Loan ...
The National Student Loan Data System (NSLDS) is the U.S. Department of Education’s (ED) central database for Federal Student Aid. [1] NSLDS receives data from schools, guaranty agencies, the Direct Loan program , and other ED programs.
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]
On October 6, the Department of Education announced changes to the Public Service Loan Forgiveness Program (PSLF) that will now make new loans eligible for forgiveness that were previously ...
Still, student loan borrowers face a long road to find out if they will ultimately get federal debt cancellation as they wait for the Supreme Court to take up the cases against Biden's relief plan ...
Research shows that access to student loans increases credit-constrained students' degree completion, later-life earnings, and student loan repayment while having no impact on overall debt. [3] Student loan debt has proliferated since 2006, totaling $1.73 trillion by July 2021. In 2019, students who borrowed to complete a bachelor's degree had ...
In 10 years, the loan program experienced 230% growth in the loan portfolio and 130% growth in the loan recipients. Student loan debt in 2019 is the highest it has ever been. According to the latest loan debt statistics, student loan debt has become the second highest consumer debt category behind mortgage debt. [15]
Key takeaways. CornerStone was previously one of eight approved federal student loan servicing agencies that provided loans nationwide. Although Cornerstone was contracted to service loans through ...