The William D. Ford Federal Direct Loan (Direct Loan) program is the single largest source of federal financial assistance to support students' postsecondary educational pursuits. The U.S. Department of Education estimates that in FY2024, $85.8 billion in new loans will be made through the program. As of the end of the first quarter of FY2023,…

U.S. citizens or permanent residents, enrolled at least half time in a qualified program at a participating school, not in default on a prior federal student loan, and not previously convicted of a drug offense while receiving federal financial aid are eligible to apply for a student loan. This chart summarizes the interest rates, loan limits, and…

Today, approximately 43 million Americans hold a federal student loan. When these borrowers fall behind on payments, they become delinquent on their loans; once the loans reach 270 days past due, borrowers are in default. As of March 2021, roughly 1 in 5 borrowers was in default, according to data from the U.S. Department of Education. Failing to…

Racial inequities in higher education and the labor market have led to disparate outcomes in student loan borrowing and repayment by race, with Black borrowers holding more student debt and being more likely to default on it compared with white borrowers. Student loan default, which helps perpetuate the racial wealth gap by disproportionately…

Federal Student Aid, an office of the U.S. Department of Education, ensures that all eligible Americans benefit from federal financial assistance--grants, loans, and work-study programs for education beyond high school. By championing the promise of postsecondary education, the office upholds its value as a force for greater inclusion in American…

In response to the current Coronavirus Disease 2019 (COVID-19) pandemic, numerous questions have arisen regarding student loan repayment flexibilities and debt relief that may be available to individuals to alleviate potential financial effects related to COVID-19. The Higher Education Act of 1965 (HEA) generally authorizes several options for…

The William D. Ford Federal Direct Loan (Direct Loan) program makes several types of federal student loans available to individuals to assist them with financing postsecondary education expenses. It represents the single largest source of federal financial assistance to support students' postsecondary educational pursuits. The U.S. Department of…