Federal Student Loans
March 30, 2021Department of Education Announces Expansion of COVID-19 Emergency Flexibilities to Additional Federal Student Loans in DefaultToday, the U.S. Department of Education (Department) announced an expansion of the pause on federal student loan interest and collections to all defaulted loans in the Federal Family Education Loan (FFEL) Program. This action will help more than one million additional borrowers burdened by debt during the COVID-19 emergency.
March 18, 2021
Today, the U.S. Department of Education (Department) announced it will streamline debt relief determinations for borrowers with claims approved to date that their institution engaged in certain misconduct.
January 21, 2021At the Request of President Biden, Acting Secretary of Education Will Extend Pause on Federal Student Loan Payments
At the request of President Biden, the Acting Secretary of Education will extend the pause on federal student loan payments and collections and keep the interest rate at 0%. Too many Americans are struggling to pay for basic necessities and to provide for their families. They should not be forced to choose between paying their student loans and putting food on the table.
March 25, 2020Secretary DeVos Directs FSA to Stop Wage Garnishment, Collections Actions for Student Loan Borrowers, Will Refund More Than $1.8 Billion to Students, Families
WASHINGTON — U.S. Secretary of Education Betsy DeVos announced today that, due to the COVID-19 national emergency, the Department will halt collection actions and wage garnishments to provide additional assistance to borrowers. This flexibility will last for a period of at least 60 days from March 13, 2020.
March 20, 2020Delivering on President Trump's Promise, Secretary DeVos Suspends Federal Student Loan Payments, Waives Interest During National Emergency
WASHINGTON — U.S. Secretary of Education Betsy DeVos announced today that the office of Federal Student Aid is executing on President Donald J. Trump's promise to provide student loan relief to tens of millions of borrowers during the COVID-19 national emergency.
February 3, 2020U.S. Department of Education, Consumer Financial Protection Bureau Sign Memorandum of Understanding to Better Serve Student Loan Borrowers
WASHINGTON — The U.S. Department of Education and the Consumer Financial Protection Bureau (CFPB) announced a new coordination agreement in order to better serve student loan borrowers.
August 30, 2019U.S. Department of Education Finalizes Regulations to Protect Student Borrowers, Hold Higher Education Institutions Accountable and Save Taxpayers $11.1 Billion Over 10 Years
WASHINGTON—Today, the U.S. Department of Education finalized regulations that will protect student borrowers, hold higher education institutions accountable and provide financial protections to taxpayers.
July 25, 2018U.S. Department of Education Takes Action to Protect Student Borrowers, Hold Higher Education Institutions Accountable for Deceptive Practices
WASHINGTON—The U.S. Department of Education today proposed a new package of higher education regulations aimed at protecting student borrowers, holding higher education institutions accountable for misrepresentation and fraud and providing financial protections to taxpayers by at-risk institutions.
June 2, 2017
The U.S. Department of Education today announced the IRS Data Retrieval Tool is now available for borrowers applying for an income-driven repayment plan. New encryption protections have been added to the Data Retrieval Tool to further protect taxpayer information. The IRS Data Retrieval Tool will return Oct.
January 17, 2017Treasury and Education Announce Progress Toward Multi-Year Income Certification System for Student Loan Borrowers in Income-Driven Repayment Plans
The Departments of Treasury and Education announced today that they have signed a Memorandum of Understanding establishing a framework regarding the requirements for electronically sharing tax data over multiple years for federal student loan borrowers participating in Income-Driven Repayment (IDR) plans.