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…

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…

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…

The objective of this review was to evaluate the results of Federal Student Aid's (FSA) process for suspending involuntary collection and refunding payments involuntarily collected on defaulted Department-held loans in response to the Coronavirus pandemic. The information presented in this report was obtained and analyzed through interviews,…

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…

During the COVID-19 pandemic, undergraduate enrollment dropped by nearly 10%. Yet those who are attending college are still shouldering a hefty financial burden. This issue brief examines a survey of 1,521 women in New York City to learn more about their experiences with student loan debt during the pandemic. The results indicate glaring…

This brief reviews the details of major proposals from policy makers and policy organizations to streamline and reform income-driven repayment of federal student loans. The brief identifies encouraging consensus on a number of important details, as well as some areas of remaining divergence.

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…

As overall student loan indebtedness in the United States has increased over the years, many borrowers have found themselves unable to repay their student loans. Ordinarily, declaring bankruptcy is a means by which a debtor may discharge--that is, obtain relief from--debts he is unable to repay. However, Congress, based upon its determination that…

With student loan debt reaching approximately $1.6 trillion, many are concerned that student loans may be the next financial bubble to burst. CARES Act funding and U.S. Department of Education actions led to historically low levels of delinquency in 2020-2021. However, there is concern that issues will balloon as soon as governmental action and…

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,…

For people across the United States, student loan debt is a growing portion of the household balance sheet. More than 40 million Americans have outstanding student loan balances. The burden of student loan debt is causing undue harm to the financial security of individuals and households across the US, with disproportionate impacts on both low-…

In fiscal year 2018, nearly 13 million students and their families received over $122 billion in federal assistance to help them pursue higher education through programs authorized under Title IV of the Higher Education Act of 1965, as amended. the Department of Education (Education) administers these programs, and is responsible, along with…

Student debt cancellation must be a federal priority for the new administration. As the devastating health and economic toll of the COVID-19 pandemic deepens, millions of student borrowers are held back by high levels of debt on top of job losses and the struggle to cover their basic needs. The pause on payments is only a temporary fix. Since…

This report aims to expand the window into federal student loan defaults beyond the event of default itself. It attempts to provide the most robust look to date of what happens to student loans "after a borrower defaults and why." Ultimately, this information should help policymakers evaluate the current set of policies related to…