Student Loan Programs
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July 11, 2012

Education Department Launches New Online Tool To Help Students Manage Loan Debt

Today, the U.S. Department of Education released a new interactive loan counseling tool to provide students with financial management basics, like information about their current loan debt and estimates for student loan debt levels after graduation.

March 5, 2012

Consumer Financial Protection Bureau Now Taking Private Student Loan Complaints

Washington, D.C. — The Consumer Financial Protection Bureau (CFPB) is now accepting complaints from borrowers having difficulties with their private student loans.

June 2, 2011

Obama Administration Announces New Steps to Protect Students from Ineffective Career College Programs

Today, the Obama Administration released final regulations requiring career college programs to better prepare students for "gainful employment" or risk losing access to Federal student aid.

May 31, 2011

U.S. Department of Education Invites Guaranty Agencies to Propose Creative Business Innovations

The U.S. Department of Education is continuing its commitment to helping students and protecting taxpayer dollars with an announcement today that it is accepting proposals from guaranty agencies that participate in the Federal Family Education Loan (FFEL) program to enter into Voluntary Flexible Agreements (VFAs) with the Secretary.

September 13, 2010

Student Loan Default Rates Increase

U.S. Secretary of Education Arne Duncan today announced that the FY 2008 national cohort default rate is 7.0 percent, up from the FY 2007 rate of 6.7 percent. The default rates increased from 5.9 to 6 percent for public institutions, from 3.7 to 4 percent for private institutions, and from 11 to 11.6 percent for for-profit schools.

July 1, 2009

U.S. Education Secretary Duncan Announces Relief for Federal Student Loan Borrowers

Starting July 1, a new repayment option is available that makes monthly payments more affordable for Americans with heavy federal student loan burdens. The new Income-Based Repayment (IBR) plan protects borrowers by linking payments to income and family size. A related new program offers additional benefits to those working in public service jobs.

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