By Marlene Seeklander Student loan borrowers enrolled in the SAVE (Saving on a Valuable Education) program will see interest accrual begin once again. SAVE participants were placed in a zero-interest forbearance period but will see that end on July 31 and interest accrual begin on August 1. Loan repayment amounts for the SAVE program borrowers will […]
SAVE program zero-interest period ends July 31 Read More »
By Marlene Seeklander Schools now have a report available to assist them in understanding the delinquency and default risks of their most recent borrowers – something that will be important as cohort default rates potentially rise. In a July 23 Electronic Announcement, the Department of Education announced the availability of the nonpayment rates by institution report, available
By Marlene Seeklander Schools now have a report available to help them in performing outreach to remind former students of their loan repayment obligations, particularly those who are delinquent on one or more of their student loans. In a June 9 Electronic Announcement, the Department of Education announced that they have the Delinquent Borrower Report (DELQ01)
NSLDS Delinquent Borrower Report now available Read More »
By Marlene Seeklander Student loan borrowers will see slightly lower interest rates starting July 1 for Direct Loans borrowed on or after July 1, 2025. The new interest rates were announced by the Department of Education in a May 30 Electronic Announcement. The interest rate is a fixed rate for the life of the loan. For Direct
Direct Loan interest rates for loans first disbursed on or after July 1, 2025 announced Read More »
By Marlene Seeklander Students impacted by an issue that prevented an official SAI (Student Aid Index) from being calculated may now be eligible to receive a Title IV loan. In a May 27, 2025 Electronic Announcement, the Department of Education (ED) announced that they are amending and extending flexibilities for late disbursements that were published in
By Marlene Seeklander Schools that have not yet closed out their 2023-24 Direct Loan Program year need to make note of the upcoming closeout deadline. A May 19 Electronic Announcement reminds schools that Thursday, July 31, 2025, is the closeout deadline and last processing day before the end of the program year. This means that all
Closeout deadline for 2023-24 Direct Loan Program year Read More »
By Catherine Mueller The Department of Education has three important reminders for those borrowers who are just beginning to repay student loan debt or are resuming repayment after some time in forbearance or deferment. Mapping Your Future has created a “3 Important Reminders for Borrowers of Federal Student Loans” flyer to help borrowers understand obligations and
Department of Education issues reminders for student loan borrowers Read More »
By Marlene Seeklander By Marlene Seeklander The Department of Education is extending an urgent “ask” of colleges to help with default prevention. In a May 5 Electronic Announcement the Department of Education reminds schools that the federal student loan programs are a shared responsibility between student borrowers, the Department, and participating schools, with borrowers having the primary
By Marlene Seeklander There’s good news for Direct Loan borrowers and students receiving TEACH Grant awards in the next academic year, as the Direct Loan fees and TEACH award amounts remain unchanged. A recent Electronic Announcement outlined the sequester-required increases to Direct Loan fees and sequester-required reductions in TEACH Grant award amounts. These apply to loans
Direct Loan fees and TEACH Grant award amounts set for 2025-26 Read More »
By Marlene Seeklander Borrowers with defaulted federal student loans will soon find their loans once again in collections. In an April 21 press release, the Department of Education (ED) announced that Federal Student Aid (FSA) will resume collections of its defaulted federal student loan portfolio on May 5, 2025. Defaulted student loans have not been collected
Department of Education to resume collection of defaulted student loans Read More »
