Federal Student Loans
September 5, 2023Biden-Harris Administration Announces More Than 4 Million Student Loan Borrowers Are Enrolled in the New SAVE Plan
The U.S. Department of Education today announced more than 4 million student loan borrowers are enrolled in the Biden-Harris Administration's new Saving on A Valuable Education (SAVE) income-driven repayment (IDR) plan, including those who were transitioned from the previous Revised-Pay-As-You-Earn (REPAYE) plan.
August 22, 2023Biden-Harris Administration Launches Most Affordable Repayment Plan Ever, Transforming Income-Driven Repayment by Cutting Undergraduate Payments in Half and Preventing Unpaid Interest Accumulation
The Biden-Harris Administration today announced that it has fully launched its updated income-driven repayment application tool on StudentAid.gov and that student loan borrowers can now officially enroll in the Saving on A Valuable Education (SAVE) plan, the most affordable repayment plan ever created.
August 16, 2022Education Department approves $3.9 billion group discharge for 208,000 borrowers who attended ITT Technical Institute
Today, the U.S. Department of Education (Department) announced that it will discharge all remaining federal student loans that borrowers received to attend ITT Technical Institute (ITT) from January 1, 2005, through its closure in September 2016.
December 13, 2021Statement by Secretary Cardona on President Biden's Executive Order on Improving Customer Experience and Government Services for the American People
Today, the Biden-Harris Administration announced a series of new actions to help improve customer experience and Government services for the American people.
August 26, 2021Extended Closed School Discharge Will Provide 115K Borrowers from ITT Technical Institute More Than $1.1B in Loan Forgiveness
Today, the U.S. Department of Education announced it will make $1.1 billion in closed school discharges available to an additional 115,000 borrowers who attended the now-defunct ITT Technical Institute (ITT). This decision is based on a new review of the problems leading up to ITT's closure. These borrowers did not complete their degree or credential and left ITT on or after March 31, 2008.
August 19, 2021Over 323,000 Federal Student Loan Borrowers to Receive $5.8 Billion in Automatic Total and Permanent Disability Discharges
Over 323,000 borrowers who have a total and permanent disability (TPD) will receive more than $5.8 billion in automatic student loan discharges due to a new regulation announced today by the U.S. Department of Education. The change will apply to borrowers who are identified through an existing data match with the Social Security Administration (SSA).
August 9, 2021
Today, the U.S. Department of Education (Department) released a new legal interpretation that revises and clarifies its position on the legality of state laws and regulations that govern various aspects of the servicing of federal student loans. This action will help states enforce borrower bills of rights or other similar laws to address issues with servicing of 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.