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Zota, Rita R.; Hegji, Alexandra; Shohfi, Kyle D. – Congressional Research Service, 2023
Income-driven repayment (IDR) plans are a subset of student loan repayment plans that cap a borrower's monthly payment at a percentage of their discretionary income, which is defined as a portion of a borrower's adjusted gross income (AGI) that exceeds a specified multiple of the federal poverty line (FPL) for the borrower's family size. A…
Descriptors: Federal Programs, Student Loan Programs, Federal Aid, Loan Repayment
Project on Student Debt, 2021
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…
Descriptors: Student Financial Aid, Federal Aid, Paying for College, Loan Repayment
Institute for College Access & Success, 2020
This brief illustrates that while many borrowers in IDR [income-driven repayment] will repay their loans in full, those who do receive a discharge of remaining debt after 20 or 25 years of responsible payments may face an unaffordable tax liability because these discharged amounts are treated as taxable income under current law.
Descriptors: Taxes, Income Contingent Loans, Loan Repayment, Student Loan Programs
Blagg, Kristin; Blom, Erica; Kelchen, Robert; Chien, Carina – Urban Institute, 2021
Evidence shows that what students study matters as much as, if not more than, where they study. Program-level measures can provide important data on student outcomes, which will allow policymakers to hold institutions and programs that receive federal funding accountable. This fact sheet highlights some of the most frequently discussed measures…
Descriptors: Higher Education, Accountability, Federal Aid, Educational Finance
Project on Student Debt, 2020
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…
Descriptors: Student Financial Aid, Loan Default, Eligibility, Federal Aid
Pew Charitable Trusts, 2022
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…
Descriptors: Loan Repayment, Student Financial Aid, Income, Loan Default
Pew Charitable Trusts, 2021
More than a million federal student loan borrowers default each year, and the U.S. Department of Education reports that as of June 2020, roughly 1 in 5 borrowers with federal student loans was in default. Since that time, the coronavirus pandemic and related economic downturn have continued to take a significant toll on households and businesses…
Descriptors: Student Loan Programs, Debt (Financial), Loan Default, Federal Aid
National Association of Student Financial Aid Administrators, 2024
National Association of Student Financial Aid Administrators' (NASFAA's) National Student Aid Profile is an annual publication designed to give a high-level overview of the federal student financial aid programs that provide funding to millions of students each year. This profile includes an overview of: (1) The Federal Pell Grant Program; (2) The…
Descriptors: Federal Programs, Student Financial Aid, Federal Aid, Grants
National Association of Student Financial Aid Administrators, 2024
National Association of Student Financial Aid Administrators' (NASFAA's) National Student Aid Profile is an annual publication designed to give a high-level overview of the federal student financial aid programs that provide funding to millions of students each year. This profile includes an overview of: (1) The Federal Pell Grant Program; (2) The…
Descriptors: Federal Programs, Student Financial Aid, Federal Aid, Grants
Karamcheva, Nadia; Perry, Jeffrey; Yannelis, Constantine – Congressional Budget Office, 2020
Between 1965 and 2010, most federal student loans were issued by private lending institutions and guaranteed by the government, and most student loan borrowers made fixed monthly payments over a set period--typically 10 years. Since 2010, however, all federal student loans have been issued directly by the federal government, and borrowers have…
Descriptors: Income, Loan Repayment, Student Loan Programs, Federal Aid
Karamcheva, Nadia; Perry, Jeffrey; Yannelis, Constantine – Congressional Budget Office, 2020
In February 2020, the Congressional Budget Office released a report on the budgetary effects of student loans repaid through income-driven plans. This paper provides additional information on the analysis the agency conducted on the characteristics of borrowers in those plans and the methods the agency used to project borrowers' earnings,…
Descriptors: Income, Loan Repayment, Student Loan Programs, Federal Aid
Hegji, Alexandra – Congressional Research Service, 2021
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…
Descriptors: COVID-19, Pandemics, Student Loan Programs, Student Financial Aid
Hegji, Alexandra – Congressional Research Service, 2020
The Higher Education Act of 1965 (HEA; P.L. 89-329, as amended) authorizes the operation of three federal student loan programs: the William D. Ford Federal Direct Loan (Direct Loan) program, the Federal Family Education Loan (FFEL) program, and the Federal Perkins Loan program. While new loans are authorized to be made only through the Direct…
Descriptors: Debt (Financial), Student Loan Programs, COVID-19, Federal Aid
National Association of Student Financial Aid Administrators, 2022
National Association of Student Financial Aid Administrators' (NASFAA's) National Student Aid Profile is an annual publication designed to give a high-level overview of the federal student financial aid programs that provide funding to millions of students each year. This profile includes an overview of: (1) The Federal Pell Grant Program; (2) The…
Descriptors: Federal Programs, Student Financial Aid, Federal Aid, Grants
National Association of Student Financial Aid Administrators, 2022
National Association of Student Financial Aid Administrators' (NASFAA's) National Student Aid Profile is an annual publication designed to give a high-level overview of the federal student financial aid programs that provide funding to millions of students each year. This profile includes an overview of: (1) The Federal Pell Grant Program; (2) The…
Descriptors: Federal Programs, Student Financial Aid, Federal Aid, Grants
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