Last week was full of announcements about student loans. The U.S. Department of Education (ED), along with the Consumer Financial Protection Bureau and the U.S. Department of Treasury, announced last week that it plans to take steps to improve consumer protections and enhance the stud
Did You Know? ♦ Before July 2006, PLUS loans were only available to parents borrowing to pay for the education of their children. Since that time, graduate and professional students may also borrow PLUS loans. ♦ The government evaluates the credit history of prospective PLUS loan
Did You Know? ♦ Stafford loans are named after former Senator Robert Stafford from Vermont. ♦ Both undergraduate and graduate students may be eligible for Stafford loans. ♦ Subsidized Stafford loans are awarded on the basis of financial need. Stafford loans are for underg
What is a default? The definition of a federal Direct Loan default is: The failure of a borrower and endorser, if any, to make an installment payment when due, or to meet other terms of the promissory note, if the Secretary finds it reasonable to conclude that the borrower and endorse
Basic Federal Student Loan Repayment Options The available pre-default repayment plans are different depending on what type of student loan you have. (What Type of Loan Do I Have?). These plans are not available if you are already in default. The good news is that there are a number
HEAL loans were discontinued as of 1998. From 1978 to 1998, the federal Health Education Assistance Loan Program (HEAL) provided insurance for loans made by participating lenders to eligible graduate students in medical and health-related fields. It was administered by the federal D
Direct Loans and Federal Family Education Loans (FFEL) are the two largest government federal student loan programs. As of July 1, 2010, the FFEL program was eliminated. Most federal loans are now made through the Direct Loan program. Federal Direct Loans are made directly by the fe
Please understand that we do not provide legal advice about individual cases. This web site includes links to other resources for those who seek individualized legal advice or other help not offered here. This site is for people who already have student loans and want to know more about their options and rights.