Student Loans

Federal student loan borrowers to get rate reduction for enrollment in autopay

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June 19, 2026 By Catherine Mueller Federal student loan borrowers could save some money on their student loans if they enroll in autopay. On June 18, The U.S. Department of Education announced that federal student loan borrowers enrolled in auto pay will be eligible for a 1 percent interest rate reduction beginning July 1. Borrowers who […]

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Tip of the Week – June 17, 2026

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Tip of the Week Updated interest rate information available on Mapping Your Future website July is just around the corner and that means student loan borrowers will see slightly higher interest rates starting July 1. To help your students know the upcoming July 1 interest rates, Mapping Your Future staff recently updated several references to

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Interest rates on federal student loans to increase

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By Marlene Seeklander Student loan borrowers will see an increase in interest rates starting July 1 for Direct Loans borrowed on or after July 1, 2026. The new interest rates were announced by the Department of Education in a June 4 Electronic Announcement. The interest rate is a fixed rate for the life of the loan. For

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Closeout deadline nearing for 2024-25 Direct Loan Program year

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By Marlene Seeklander Schools that have not yet closed out their 2024-25 Direct Loan Program year will need to make note of the upcoming closeout deadline. A May 20 Electronic Announcement reminds schools that Friday, July 31, 2026, is the closeout deadline and last processing day before the end of the program year. This means that

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Direct Loan fees and TEACH Grant award amounts set for 2026-27

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By Marlene Seeklander There’s good news for Direct Loan borrowers and students receiving TEACH Grant awards in the 2026-27 academic year as the Direct Loan fees and TEACH award amounts once again 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

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Colleges implementing new rules for federal student loan programs

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By Marlene Seeklander Along with all of the tasks at the academic year end and the awarding of aid for the next year, financial aid professionals are also in the middle of implementing new federal student loan rules. On Friday, May 1, the Department of Education published the final regulations in the Federal Register for

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Webinar recording on legacy loan limit provisions now available

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By Marlene Seeklander Financial aid professionals may have questions about the legacy loan limit provisions going into effect this summer following the passage last year of the federal budget reconciliation law. Federal Student Aid offered a live webinar on April 17 that addressed the provisions for those borrowers who had loans disbursed prior to July 1,

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FY 2023 Draft Cohort Default Rates available

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By Marlene Seeklander Schools can begin reviewing their FY 2023 draft cohort default rate information and prepare to submit any necessary appeals. The Department of Education announced the distribution of the FY 2023 draft cohort default rate (CDR) packages on March 23 to all eligible domestic and foreign schools. The information, sent to the SAIG mailbox

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Closeout deadline for 2024-25 Direct Loan Program year

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By Marlene Seeklander Schools that have not yet closed out their 2024-25 Direct Loan Program year need to make note of the upcoming closeout deadline. A March 18 Electronic Announcement reminds schools that Friday, July 31, 2026, is the closeout deadline and last processing day before the end of the program year. This means that all

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Number of student loan borrowers in default matching pre-pandemic levels

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By Catherine Mueller Nearly 8 million student loan borrowers with $180 billion federal student loans are in default, according to the latest data from the Department of Education. The number of defaulted borrowers mirrors the count from December 2019, prior to the payment pause, when 7.7 million recipients with approximately $168 billion in federal student loans

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