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 »
By Marlene Seeklander Student loan borrowers may feel overwhelmed right now and it may not just be about the amount of debt. Keeping track of all the latest news and determining whether any of the administrative changes and legal challenges of student loan repayment impact borrowers, could be leaving them and you feeling anxious. Mapping Your
What student loan borrowers need to know Read More »
By Marlene Seeklander Financial Aid Administrators have some new workarounds and functionality to address some of the lingering issues related to 2024-25 and 2025-26 FAFSA form processing. An April 14 Electronic Announcement provided updates and guidance for several items, including: Student Records with a Pseudo-SSN First-time FAFSA filers from the Freely Associated States (the Republic of
Updates to 2024-25 and 2025-26 FAFSA form processing Read More »
By Marlene Seeklander The Department of Education is inviting public feedback on several student loan related topics. In a Federal Register Notice dated April 4, 2025, the Department announced its intent to host public hearings and establish negotiated rulemaking committees as well as inviting public feedback on the following topics: Written comments on these and any
Department of Education seeking public feedback for proposed regulations Read More »
By Marlene Seeklander Borrowers seeking a TPD Discharge can now submit forms and track their progress at StudentAid.gov. In an April 7 Electronic Announcement, Federal Student Aid (FSA) announced that the TPD Discharge process has now fully transitioned to FSA as of March 23, 2025 and allows borrowers seeking TPD to submit their TPD forms and
Total and Permanent Disability (TPD) Discharge Transition and updates Read More »
By Catherine Mueller Although there have been administrative changes and legal challenges in the federal student loan program in the past several months, the Public Service Loan Program (PSLF) remains a benefit for some borrowers. Borrowers currently enrolled in PSLF should continue making payments to ensure progress toward forgiveness. Some borrowers enrolled in PSLF and also
Updates for borrowers seeking PSLF Read More »
