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The Education Department announced the latest round of cancellation on Wednesday, saying it will erase $7.7 billion in federal student loans.
WASHINGTON — President Joe Biden announced Friday that his administration is canceling $7.4 billion in student loans for 277,000 borrowers.
FedLoan Servicing stopped handling federal student loan accounts on December 14, 2021. After the decision, FedLoan accounts were transferred to MOHELA, Edfinancial, Aidvantage and Nelnet.
Student loans come in several varieties, but are basically either federal loans or private student loans. Federal loans are either subsidized (the government pays the interest) or unsubsidized. Federal student loans are subsidized for undergraduates only.
A student loan is a type of loan designed to help students pay for post-secondary education and the associated fees, such as tuition, books and supplies, and living expenses. It may differ from other types of loans in the fact that the interest rate may be substantially lower and the repayment schedule may be deferred while the student is still ...
Student loan forgiveness: If you have federal student loans, you may be eligible for student loan forgiveness. You may qualify if you’re a teacher or a medical professional, work for a...
Check out these eight ways to pay off student loans fast. 1. Pay More Than the Minimum Payment. Each month, your student loan statement will state the minimum amount due that you need to pay.
Student loan refinancing is when you apply for a new loan to pay off your current student loans, usually to lower your interest rate or extend your payoff timeline.
Even though borrowers have until Dec. 31, 2023, to apply for student loan forgiveness, many are not waiting to start the application process. By applying now, borrowers who received Federal Pell...
If you’re wondering how to tell if your student loans are federal, you can log into the Federal Student Aid website using your FSA ID to see a list of all federal student loans in your name.