Remove Application Remove Information Remove Student loans
article thumbnail

Department of Education Resumes Federal Student Loan Collections After Four-Year Pause

Diverse: Issues in Higher Education

Department of Education announced this week that its Office of Federal Student Aid (FSA) will resume collections on defaulted federal student loans beginning Monday, May 5, 2025, ending a pause that has been in effect since March 2020. million borrowers owing more than $1.6 Additionally, nearly 1.9

article thumbnail

IDR Application is Back Up

NCLC Student Loan Borrower Assistance

On March 26, 2025, the Department of Education reopened the online application for Income-Driven Repayment (IDR) plans for federal student loan borrowers. This follows a very stressful period for student loan borrowers. On February 21, the Department pulled down the IDR application.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Report Examines Massive Overhaul of Student Loan Servicing System

Diverse: Issues in Higher Education

A new National Consumer Law Center (NCLC) report analyzes a Unified Servicing and Data Solution (USDS) contract, set to go live in the spring, and its potential impact on student loan borrowers’ rights and experiences. Alpha Taylor The U.S.

article thumbnail

Overview of Federal Direct Student Loans

College Planners of America

Interest begins to accrue from the time the loan is disbursed, and borrowers are responsible for paying all of the interest. Application Process The process of applying for Federal Direct Loans begins with the completion of the Free Application for Federal Student Aid (FAFSA) and submitting it to the ED.

article thumbnail

Wealth-Based Pell Grant Could Reduce Student Debt and Racial Wealth Inequality

Diverse: Issues in Higher Education

The policy incorporates information already collected in the FAFSA form, which is used to distribute Pell Grants. Despite collecting information on family wealth, traditional Pell Grants are distributed based on income and less-so on non-liquid assets like real estate or investments. “We

Grant 289
article thumbnail

Report Finds 100% of Incarcerated Borrowers in Default, Limiting their Access to Pell Grants

Diverse: Issues in Higher Education

But a new report has revealed that an important segment of this population may be largely left out: those who already have student loans. The finding comes from a study by the Student Borrower Protection Center (SBPC), a nonprofit dedicated to reducing student debt.

article thumbnail

Last Chance for Many to Get More Credit Toward Student Loan Cancellation

NCLC Student Loan Borrower Assistance

The deadline to apply to consolidate many older federal student loans to be included in the one-time payment count adjustment is Tuesday, April 30th. Do I need to consolidate my loans to get additional credit toward debt relief? I have loans I need to consolidate – what do I do next?