Federal Student Loans
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.
August 22, 2016
July 20, 2016Education Department to Implement Improved Customer Service and Enhanced Protections for Student Loan Borrowers
As part of a continued effort to implement a new vision for student loan servicing that ensures the more than 40 million Americans with student loan debt get high-quality customer service and fair treatment as they repay their loans, the U.S.
June 13, 2016Education Department Proposes New Regulations to Protect Students and Taxpayers from Predatory Institutions
The Department of Education today proposed regulations to further protect student borrowers and taxpayers against predatory practices by postsecondary institutions.
March 15, 2016Statement from U.S. Education Secretary John B. King Jr. on CFPB action to shut down student debt relief scheme
“I applaud today’s announcement by the Consumer Financial Protection Bureau that it has taken action to shut down Student Loan Processing, a company that was charging borrowers exorbitant fees for services they can access for free through
September 24, 2014
NOTE TO EDITORS: There will be a background call today at 12:30 to discuss the FY 2011 cohort default rates. Media who are interested in joining the call may dial 800-857-9712. The passcode is “education”
September 30, 2013
The U.S. Department of Education today announced the official FY 2011 two-year and official FY 2010 three-year federal student loan cohort default rates (CDR). The national two-year cohort default rate rose from 9.1 percent for FY 2010 to 10 percent for FY 2011. The three-year cohort default rate rose from 13.4 percent for FY 2009 to 14.7 percent for FY 2010.
July 24, 2013
"The compromise reached by a bipartisan group of Senators and led by President Obama is a major victory for college students across the country. If enacted, the plan would cut rates on nearly every single new college loan this year, offering relief to nearly 11 million borrowers.