This fact sheet outlines President Obama’s new plan to increase college affordability. Facets of the plan include creating a new ratings system that measures college performance and value; eliminating barriers to competition and innovation, particularly in the use of new technology; and helping student borrowers struggling with their existing debt by capping loan payments at 10 percent of income and directing ED to reach out to students struggling with their loans to make sure they understand their options.
This blog entry provides ideas for how counselors and other school professionals can promote the completion of the Free Application for Federal Student Aid (FAFSA) at their high school or college campus. Examples include using social media and hosting a FAFSA night on campus.
This blog post and video from the Department of Education can help students and recent graduates understand the details of loan repayment, including when repayment starts, who to pay, how much to pay, and how to make payments.
This blog post, from a representative from the Office of Federal Student Aid, features advice on paying off student loans faster. Tips include signing up for an automatic debit payment plan and using tax refunds to pay off of part of a loan.
This blog entry outlines the four things recent graduates should do as they prepare to make their first student loan payment: get organized, contact the loan servicer, estimate monthly payments, and select a repayment plan. Learn more.
Talla Hashemi, a junior at University of North Carolina at Chapel Hill and ED intern, shares why attending community college, and then transferring to a four-year university, was the best choice for her.
Borrowers who default on still have options. This blog post outlines steps that borrowers can take to get their loans back in good standing, including loan repayment, rehabilitation, and consolidation.