Education Department Needs to Take a Deeper Look at Race and Student Loan Defaults
August 18, 2016
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Yesterday, NCLC and 39 others sent a letter to Secretary John King demanding that the Department of Education look at its loan data to determine the impact that student loan defaults have on student loan borrowers of color. In our letter, we asked the Department to collect and release
Continue Reading →Education Department’s Plan to Protect Student Loan Borrowers
May 05, 2016
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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
Continue Reading →PLUS Loans
May 19, 2013
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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 borrower
Continue Reading →Stafford Loans
May 19, 2013
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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 fina
Continue Reading →Default and Delinquency
May 13, 2013
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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 endorser
Continue Reading →Federal Loans
May 13, 2013
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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 nu
Continue Reading →HEAL Loans
June 12, 2007
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
Continue Reading →Federal Loans
March 20, 2007
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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
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