Student Financial Aid
May 3, 2021U.S. Department of Education Announces Richard Cordray as Chief Operating Officer of Federal Student Aid
The U.S. Department of Education (ED) announced today that it has selected Richard Cordray as the Chief Operating Officer of Federal Student Aid. Cordray is the former Director of the Consumer Financial Protection Bureau and the former Attorney General of Ohio.
December 4, 2020Secretary DeVos Extends Student Loan Forbearance Period Through January 31, 2021, in Response to COVID-19 National EmergencySecretary DeVos announced the extension of the federal student loan administrative forbearance period, the pause in interest accrual, and the suspension of collections activity through January 31, 2021. Federal student loan borrowers will not be expected to make payments through January of next year.
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.
December 23, 2019Secretary DeVos Delivers on Promise to Launch Centralized Federal Student Aid Information Hub for Students, Borrowers
WASHINGTON— Delivering on U.S. Secretary of Education Betsy DeVos' promise to improve customer experience with the federal student aid process, the Department debuted today a new, centralized hub for customers to access student aid information.
November 8, 2019Secretary DeVos Cancels Student Loans, Resets Pell Eligibility, and Extends Closed School Discharge Period for Students Impacted by Dream Center School Closures
WASHINGTON – U.S. Secretary of Education Betsy DeVos announced today that students who attended Art Institute of Colorado or the Illinois Institute of Art between January 20, 2018, and December 31, 2018, will have their student loans cancelled and their Federal Pell Grant eligibility restored.
August 10, 2018
WASHINGTON—The U.S. Department of Education today announced a Notice of Proposed Rulemaking (NPRM) that proposes to rescind Gainful Employment (GE) regulations in order to provide useful, transparent higher education data to students and treat all institutions of higher education fairly.
January 25, 2018
As work continues to improve customer service and overall operations of the Office of Federal Student Aid (FSA), Secretary of Education Betsy DeVos announced the formation of a Strategy and Transformation unit to improve the delivery of financial aid to millions of students and their families. Secretary DeVos asked A. Wayne Johnson to lead the Office of Strategy and Transformation.
December 20, 2017
WASHINGTON – After careful review to ensure a fair and efficient process, the U.S. Department of Education (the Department) today unveiled an improved discharge process for borrower defense to repayment (BDR) claims.
September 27, 2017
The U.S. Department of Education today released the FY 2014 three-year federal student loan cohort default rate. The rate increased slightly from 11.3 percent to 11.5 percent for students who entered repayment between fiscal years 2013 and 2014.
August 31, 2017U.S. Department of Education Expands Focus on Enforcement and Consumer Protections for Students, Parents and Borrowers
Today, U.S. Secretary of Education Betsy DeVos announced a stronger approach to how Federal Student Aid (FSA) enforces compliance by institutions participating in the Federal student aid programs by creating stronger consumer protections for students, parents and borrowers against "bad actors." FSA is an office within the U.S. Department of Education.