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Federal Agency Student Loan News
December 01, 2013
Federal Agency Student Loan News November 2013 Department of Education The Department announced a number of important new changes and programs in November, including: 1. Another round of negotiated rulemaking. […]
Continue Reading →What’s the difference between the two federal loan programs (FFEL and Direct)?
November 30, 2013
by Temp Author
William D. Ford Direct loans are made directly from the Department of Education to students, without the involvement of a private lender. Prior to July 2010, there was also a […]
Continue Reading →Sweet Deal, but Not For Student Loan Borrowers
November 26, 2013
The discussion about student loan defaults too often assumes that it is acceptable and typical to use the full force of the government to collect from defaulted borrowers. In fact, […]
Continue Reading →Is there a limit on how much the government can take?
November 19, 2013
by Temp Author
Yes, there are some limits. For example, in an administrative wage garnishment, the government can take no more than 15% of your disposable wages. No matter what, you get to keep […]
Continue Reading →Are all student loans treated the same in bankruptcy?
November 19, 2013
by Temp Author
Most student loans are not dischargeable in bankruptcy unless you can prove “undue hardship”, but there are a few exceptions to this rule. More info.
Continue Reading →Does it matter what type of loan I have?
November 19, 2013
by Temp Author
Yes. Some discharge options are only for certain federal loans. Some loan holders may cancel private loans in limited circumstances.
Continue Reading →What are the consequences of defaulting on federal student loans?
November 19, 2013
by Temp Author
You are not eligible for new loans and grants. The government can also seize tax refunds, garnish wages without a court order, take a portion of Social Security payments, and […]
Continue Reading →Can I switch to a more affordable repayment plan?
November 19, 2013
by Temp Author
Yes. Borrowers with Direct Loans may change plans at any time by notifying their servicers. FFEL loan holders must allow you to switch at least once each year, but most […]
Continue Reading →What’s the difference between federal and private loans?
November 19, 2013
by Temp Author
Federal loans, whether through a bank/private lender or the Department of Education, are funded and tightly regulated by the federal government. Private loans are not subsidized by the government, and […]
Continue Reading →More Updates & News
Important Note: On June 24, 2024, two court decisions temporarily blocked parts of the SAVE Plan from taking effect. These decisions may change borrowers’ rights and access to certain benefits, including repayment plans. We will update this website with more details on how this will impact borrowers soon. Visit here for more information.
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