One year ago, Congress restarted student loan payments, and already more borrowers are current on their federal student loans than were before the payment pause began. Borrowers now have only three months until they face consequences for late payments – making our work to support student borrowers and reform the broken student loan system more Continue Reading The post What’s Next as Borrowers Return to Repayment appeared first on ED.gov Blog ..read more

By: James Kvaal, U.S. Under Secretary of Education Since the start of the Biden-Harris Administration, over 942,000 public service workers have received the $68 billion in relief they are entitled to under the bipartisan Public Service Loan Forgiveness Program (PSLF). Prior to the Biden Administration, only 7,000 people in total had received debt forgiveness through Continue Reading The post Improvements for Borrowers Working Toward PSLF appeared first on ED.gov Blog ..read more

It has been nearly 18 years since Congress ended the joint consolidation loan (JCL) program; no new JCLs could be issued, and JCLs could not be reconsolidated or separated. Borrowers who were married and combined their individual federal student loans into a single joint Direct Consolidation Loan or joint Federal Consolidation Loan with their spouse Continue Reading The post Implementing the Joint Consolidation Loan Separation Act appeared first on ED.gov Blog ..read more

In a letter sent to all staff today, U.S. Secretary of Education Miguel Cardona outlined comprehensive steps the Department is taking to improve Federal Student Aid (FSA) for students, families, borrowers, and schools. These efforts will ensure FSA works better and addresses ongoing management and operational challenges. Specifically, the Department is taking the following steps: Continue Reading The post Secretary Cardona Outlines Steps to Modernizing the Office of Federal Student Aid appeared first on ED.gov Blog ..read more

Update about federal student aid Next week, FSA will begin the next phase in years long work to improve the Public Service Loan Forgiveness (PSLF) program. These improvements have been in the making for years and are an exciting and necessary step in transitioning key aspects of the PSLF program, including customer service, to the Continue Reading The post PSLF Processing Improvements: What Borrowers Can Expect appeared first on ED.gov Blog ..read more

By: Richard Cordray, Chief Operating Office, Federal Student Aid, U.S. Department of Education This spring, Federal Student Aid (FSA) will begin improving how individual borrowers manage and repay their federal student loans. Through multiple phases, we will bring online an entirely new federal student loan servicing environment – a goal we have pursued for more Continue Reading The post Modernizing Federal Student Loan Servicing appeared first on ED.gov Blog ..read more

Borrowers Have More Time to Consolidate Loans to Benefit from the Adjustment By: Federal Student Aid Chief Operating Officer Richard Cordray Since this summer, the U.S. Department of Education (Department) has approved almost $44 billion in debt relief for more than 900,000 borrowers as part of the payment count adjustment. This is a one-time initiative Continue Reading The post Seven Things to Know About the Student Loan Payment Count Adjustment appeared first on ED.gov Blog ..read more

By: U.S. Undersecretary of Education James Kvaal After more than three years, in June 2023, Congress ended the student loan payment pause, which suspended payments and interest for the duration of the pandemic. This fall, more than 28 million borrowers are returning to repayment, an unprecedented challenge for both borrowers and the Department of Education. Continue Reading The post A First Look at Student Loan Repayment After the Payment Pause appeared first on ED.gov Blog ..read more

By: James Kvaal, Under Secretary of Education  For millions of students like you, federal student loans and grants open the doors to a college education. That critical federal aid must be used at a school that is (among other things) given the seal of approval by an “accrediting agency” or “accreditor” recognized by the U.S. Continue Reading The post What College Accreditation Changes Mean for Students appeared first on ED.gov Blog ..read more

By: Richard Cordray, Chief Operating Officer, U.S. Department of Education’s Office of Federal Student Aid For many, summer is a time for family trips and backyard BBQs, but it is not all fun and games. Before we know it, many students will be rushing to complete summer assignments before heading back to school. Here at Continue Reading The post Federal Student Aid’s Summer Assignment: Modernize the National Student Loan Data System (NSLDS®) appeared first on ED.gov Blog ..read more