Download or read book Federal Student Loans Made Under the Federal Family Education Loan Program and the William D Ford Federal Direct Loan Program written by Congressional Research Congressional Research Service and published by CreateSpace. This book was released on 2015-01-21 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: The William D. Ford Federal Direct Loan (DL) program, authorized under Title IV, Part D of the Higher Education Act of 1965 (HEA), as amended, is the primary federal student loan program administered by the U.S. Department of Education (ED). The program makes available loans to undergraduate and graduate students and the parents of dependent undergraduate students to help them finance their postsecondary education expenses. Four types of loans are offered: Subsidized Stafford Loans for undergraduate students; Unsubsidized Stafford Loans for undergraduate and graduate students; PLUS Loans for graduate students and the parents of dependent undergraduate students; and Consolidation Loans through which borrowers may combine multiple loans into a single loan. For FY2015, ED estimates that 19.1 million loans (not including Consolidation Loans) totaling $101.6 billion will be made to students and their parents through the DL program. Federal Family Education Loan (FFEL) program loans are no longer being made; however, approximately $304 billion in outstanding FFEL program loans are due to be repaid over the coming years. FFEL and DL program loans are low-interest loans, with maximum interest rates for each type of loan established by statute. Subsidized Stafford Loans are unique in that they are only available to undergraduate students demonstrating financial need. With certain exceptions, the federal government pays the interest that accrues on Subsidized Stafford Loans while the borrower is enrolled in school on at least a half-time basis, during a six-month grace period thereafter, and during periods of authorized deferment. Unsubsidized Stafford Loans and PLUS Loans are available to borrowers irrespective of their financial need; and borrowers are responsible for paying all the interest that accrues on these loans. FFEL and DL program loans have terms and conditions that may be more favorable to borrowers than private and other nonfederal loans. These beneficial terms and conditions include interest rates that are often lower than rates that might be obtained from other lenders, opportunities for repayment relief through deferment and forbearance, loan consolidation, and several loan forgiveness programs. This report discusses major provisions of federal student loans made available through the DL program and previously made through the FFEL program. It focuses on provisions related to borrower eligibility, loan terms and conditions, borrower repayment relief, and loan default and its consequences for borrowers. These topics are principally discussed with regard to loans currently being made through the DL program, or made in the recent past through either program. The report also provides detailed historical information on annual and aggregate borrowing limits, loan fees, and student loan interest rates.
Download or read book Federal Student Loans Made Under the Federal Family Education Loan Program and the William D Ford Federal Direct Loan Program written by David P. Smole and published by Createspace Independent Pub. This book was released on 2013-03-13 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: The William D. Ford Federal Direct Loan (DL) program, authorized under Title IV, Part D of the Higher Education Act of 1965 (HEA), as amended, is the primary federal student loan program administered by the U.S. Department of Education (ED). The program makes available loans to undergraduate and graduate students and the parents of dependent undergraduate students to help them finance their postsecondary education expenses. The following types of loans are currently offered through the DL program: Subsidized Stafford Loans for undergraduate students; Unsubsidized Stafford Loans for undergraduate and graduate students; PLUS Loans for graduate students and the parents of dependent undergraduate students; and Consolidation Loans through which borrowers may combine multiple loans into a single loan. For FY2013, ED estimates that 22.5 million loans (not including Consolidation Loans) totaling $120.8 billion will be made to students and their parents through the DL program. Until July 1, 2010, Subsidized Stafford Loans, Unsubsidized Stafford Loans, PLUS Loans, and Consolidation Loans were also available through the Federal Family Education Loan (FFEL) program, authorized under Title IV, Part B of the HEA. The SAFRA Act, part of the Health Care and Education Reconciliation Act of 2010 (HCERA; P.L. 111-152), terminated the authority to make new loans under the FFEL program after June 30, 2010. While new loans may no longer be made through the FFEL program, approximately $289 billion in FFEL program loans are outstanding and are due to be repaid over the coming years. FFEL and DL program loans are low-interest loans, with maximum interest rates for each type of loan established by statute. Subsidized Stafford Loans are unique in that they are only available to undergraduate students demonstrating financial need. With certain exceptions, the federal government pays the interest that accrues on Subsidized Stafford Loans while the borrower is enrolled in school on at least a half-time basis, during a six-month grace period thereafter, and during periods of authorized deferment. Unsubsidized Stafford Loans and PLUS Loans are available to borrowers irrespective of their financial need; and borrowers are responsible for paying all the interest that accrues on these loans. FFEL and DL program loans have terms and conditions that may be more favorable to borrowers than private and other non-federal loans. These beneficial terms and conditions include interest rates that are often lower than rates that might be obtained from other lenders, opportunities for repayment relief through deferment and forbearance, loan consolidation, and several loan forgiveness programs. In the recent years, numerous changes were made to the terms and conditions of DL program loans. The Budget Control Act of 2011 (BCA; P.L. 112-25) eliminated the availability of Subsidized Stafford Loans to graduate and professional students for periods of instruction beginning on or after July 1, 2012; and terminated the availability of certain repayment incentives for loans made on or after July 1, 2012. The Consolidated Appropriations Act, FY2012 (P.L. 112-74) eliminated interest subsidies during the six-month post-enrollment grace period on Subsidized Stafford Loans disbursed between July 1, 2012, and June 30, 2014. The Moving Ahead for Progress in the 21st Century Act (MAP-21; P.L. 112-141) lowered the interest rate from 6.8% to 3.4% on Subsidized Stafford Loans made between July 1, 2012, and June 30, 2013. Also, for individuals who are new borrowers on or after July 1, 2013, MAP-21 restricted both the period during which individuals may borrow Subsidized Stafford Loans and the period during which the in-school interest subsidy may be provided to 150% of the published length of their educational program.
Download or read book Federal Student Loan Programs Data Book written by Donald Conner and published by . This book was released on 1997 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Federal Student Loans Made Under the Federal Family Education Loan Program and the William D Ford Federal Direct Loan Program written by David P. Smole and published by . This book was released on 2008 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Direct Loans written by and published by . This book was released on 1997 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Federal Student Loans written by Tatiana Shohov and published by Nova Publishers. This book was released on 2004 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: Title IV of the Higher Education Act (HEA) authorises the major federal student aid programs, including the student loan programs, which are the largest source of aid for students. In FY2000, the Federal Family Education Loan (FFEL) programs and the Federal Direct Student Loan (DL) program supported an estimated $33.1 billion in new loan volume. Several types of loans are available: Federal need-based subsidised Stafford loans (under which the government pays the interest while the borrower is in school, a grace period of deferment); unsubsidised Stafford loans; Federal PLUS loans (for parents of undergraduate students); and Federal Consolidation loans. Overall, student loan volume has been increased in recent years, from $24 billion in FY1994 to $33 billion in FY2000. The number of loans being made has increased over the same period going from 6,483,000 to 8,618,000. The average amount that individual students are borrowing in any given year has not increased as dramatically. This new book examines important issues related to this cornerstone of American higher education.
Download or read book Direct Loans written by and published by . This book was released on 1996 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Direct Loans William D Ford Federal Direct Loan Program written by and published by . This book was released on 1996 with total page 2 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Direct Loans written by and published by . This book was released on 1997 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Federal Student Loan Programs Data Book written by Donald Conner and published by . This book was released on 1997 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Federal Student Loans and Pell Grants written by David P. Smole and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses the terms and conditions of Federal Student Loans and Pell Grants. Discussed in this compilation are the terms and conditions of federal student loans made under the Federal Family Education Loan Program and the William D. Ford Federal Direct Loan Program. Campus-Based Student Financial Aid programs are also examined under the Higher Education Act, as are Federal Pell Grant Programs, and the recent changes to these programs as well as current legislative issues.
Download or read book Federal Student Loans written by and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The federal government operates two major student loan programs: the Federal Family Education Loan (FFEL) program, authorized by Part B of Title IV of the Higher Education Act (HEA), and the William D. Ford Direct Loan (DL) program, authorized by Part D of Title IV of the HEA. These programs provide loans to undergraduate and graduate students and the parents of undergraduate students to help them meet the costs of postsecondary education. Together, these federal student loan programs provide more direct aid to support students' postsecondary educational pursuits than any other single source. In FY2003, these programs provided $45.8 billion in new loans to students and their parents. Under the FFEL program, loan capital is provided by private lenders, and the federal government guarantees lenders against loss through borrower default, death, permanent disability, or, in limited instances, bankruptcy. Under the DL program, the federal government provides the loans to students and their families, using federal capital (i.e., funds from the U.S. Treasury). The two programs rely on different sources of capital and different administrative structures, but essentially disburse the same set of loans: subsidized and unsubsidized Stafford loans for undergraduate and graduate students; PLUS loans for parents of undergraduate students; and Consolidation loans that offer borrowers refinancing options. Loans made through these programs support students pursuing postsecondary studies on at least a half-time basis at eligible postsecondary institutions. Student borrowers receiving loans through these programs are allowed to postpone loan repayment until they complete their academic programs. Students are also able to defer repaying their loans in order to pursue additional postsecondary studies. The loans made through the FFEL and DL programs are low-interest variable rate loans with interest caps that limit the cost to borrowers. Interest rates are determined by statutorily set market-indexed interest rate formulas. Some of the programs' loans are "subsidized" (a reference to the need-based interest subsidies the government provides for borrowers) and others are "unsubsidized," but the same aggregate borrowing limits are extended to borrowers regardless of financial need.
Download or read book Federal Student Loans written by Gabriella Bradford and published by Nova Science Pub Incorporated. This book was released on 2014-01-01 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt: The William D Ford Federal Direct Loan (DL) program is the primary federal student loan program administered by the U.S. Department of Education (ED). The program makes available loans to undergraduate and graduate students and the parents of dependent undergraduate students to help them finance their post-secondary education expenses. This book discusses major provisions of federal student loans made available through the DL program and previously made through the FFEL program. It focuses on provisions related to borrower eligibility, loan terms and conditions, borrower repayment relief, and loan default and its consequences for borrowers. These topics are principally discussed with regard to loans currently being made through the DL program, or made in the recent past through either program. The book also provides detailed historical information on annual and aggregate borrowing limits, loan fees, and student loan interest rates.
Download or read book Direct Loans William D Ford Federal Direct Loan Program written by and published by . This book was released on 1997 with total page 2 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Direct PLUS Loan Basics written by and published by . This book was released on 2000 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Student Assistance General Provisions Federal Perkins Loan Program Federal Family Education Loan Program Us Department of Education Regulation Ed 2018 Edition written by The Law The Law Library and published by Createspace Independent Publishing Platform. This book was released on 2018-07-22 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: Student Assistance General Provisions, Federal Perkins Loan Program, Federal Family Education Loan Program (US Department of Education Regulation) (ED) (2018 Edition) The Law Library presents the complete text of the Student Assistance General Provisions, Federal Perkins Loan Program, Federal Family Education Loan Program (US Department of Education Regulation) (ED) (2018 Edition). Updated as of May 29, 2018 The Secretary amends the Student Assistance General Provisions, Federal Perkins Loan (Perkins Loan) Program, Federal Family Education Loan (FFEL) Program, and William D. Ford Federal Direct Loan (Direct Loan) Program regulations. These final regulations will: Amend the FFEL and Direct Loan program regulations to reflect changes made to the Higher Education Act of 1965, as amended (HEA), by the SAFRA Act included in the Health Care and Education Reconciliation Act of 2010; incorporate statutory changes to interest rates and other recent statutory changes in the Direct Loan Program regulations; update, strengthen, and clarify various areas of the Student Assistance General Provisions, Perkins Loan, FFEL, and Direct Loan program regulations; and provide for greater consistency in the regulations governing the title IV, HEA student loan programs. These final regulations will ensure that the title IV, HEA Federal student aid programs operate as efficiently as possible. This book contains: - The complete text of the Student Assistance General Provisions, Federal Perkins Loan Program, Federal Family Education Loan Program (US Department of Education Regulation) (ED) (2018 Edition) - A table of contents with the page number of each section
Download or read book Federal Student Loans written by Kay L. Daly and published by DIANE Publishing. This book was released on 2010 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: These are the briefing slides in response to section 1119 of the Higher Educ. Opportunity Act. This act mandated a study of the financial and compliance audits and reviews required or conducted for the Fed. Family Educ. Loan and Fed. Direct Loan Programs. On August 6 and 7, 2009, the author briefed the staff of congressional committees on the types of audits, reviews, agreed-upon procedures, and reconciliations that are required or conducted for these programs. The author has incorporated additional information on the agreed-upon procedures engagements required by the Ensuring Continued Access to Student Loans Act and the reconciliations performed by the Dept. of Education's Office of Federal Student Aid. Charts and tables.
