Federal Student Aid

The Public Service Loan Forgiveness Help Tool – Education Article

Chances are that you’ve at least heard of the Public Service Loan Forgiveness (PSLF) Program, but do you know if your loans qualify? How to apply? If not, we’re here to help! First, what is PSLF? PSLF is a program that forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer. However, your loan will only be forgiven if you meet all the PSLF…

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PLUS Loan Basics for Parents – Education Article

Your child is going to college or career school—that’s great! But you may have questions about how to pay for it. If your child hasn’t completed the Free Application for Federal Student Aid (FAFSA®), ask your child to complete it today. Completing and submitting the FAFSA is free and quick, and it gives your child access to the largest source of financial aid to pay for college or career school, including loans YOU can receive. After applying for financial aid, your child…

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Student Loan Forgiveness (and Other Ways the Government Can Help You Repay Your Loans) – Education Article

Here’s a question a lot of people may be wondering… Is it really possible to have my federal student loans forgiven or to get help repaying them? The answer is: Yes! However, there are very specific eligibility requirements for each situation in which you can apply for loan forgiveness or receive help with repayment. Loan forgiveness means that you don’t have to pay back some or all of your loan. You never know what you may be eligible for, so take…

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5 Things to Know When Evaluating a Financial Aid Offer – Education Article

April is National Financial Capability Month and understanding the terms of your financial aid offer and making smart decisions about paying for college can be a good indicator of your financial capability. Many schools use the term “award letter” which can be misleading and make it sound like all the aid that is listed will all be awarded to you. This notification (paper or electronic) is an offer, which means that you are not obligated to take all the aid…

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Keeping the Cost of College Down – Education Article

Between the high costs of tuition, living expenses, meal plans and textbooks, it is easy to see why college students are increasingly stressed about their finances. A 2015 survey  found that around 70% of college students feel stressed about their personal finances in general. As a current student at UCLA, I too have felt the financial strain of an undergraduate education. Luckily, I have found that there are many simple actions college students can take to reduce the cost of postsecondary…

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Redesigning the Financial Aid Offer Letter at the University of Pennsylvania – Education Article

Every year, incoming and current college students have to file a FAFSA in order to determine their potential and continued eligibility for federal financial aid. Students may also have to file institution-based financial aid applications every year, along with institution-based or outside scholarships. Offer letters are key tools used by colleges and universities to notify students of their eligibility for federal, state, and institutional financial aid. Students and families use these letters to determine what the cost of attending that…

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The Value of Financial Literacy and Self Advocacy – Education Article

In my senior year of high school, as college decisions were released, opening the financial aid award letters was scarier than the decisions themselves: the final number, or net cost, could make or break my ability to attend university. To confuse matters, without an understanding of financial aid terms, award letters can be hard to read; each school’s letter can look different and are full of ambiguous terms and unexplained costs. No matter how well a particular award letter was…

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Education Secretary DeVos Warns of Student Debt Crisis – Education Article

Secretary DeVos delivered the opening remarks at this year’s Federal Student Aid Training Conference, raising “a warning flag with American students and American taxpayers.” While noting that “our higher ed system is the envy of the world,” she also cautioned, “if we, as a country, do not make important policy changes in the way we distribute, administer, and manage federal student loans, the program on which so many students rely will be in serious jeopardy.” In addition to her warnings…

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9 Myths About the FAFSA® Form and Applying for Financial Aid – Education Article

There’s so much information available about financial aid for college or career school that it can be hard to tell the facts from fiction. We’ve got you covered! Here are some common myths—and the real scoop—about financial aid and the Free Application for Federal Student Aid (FAFSA®) form. MYTH 1:My parents make too much money, so I won’t qualify for any aid. FACT: The reality is there’s no income cut-off to qualify for federal student aid. It doesn’t matter if you have a…

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Federal Employees: How to manage your student loans during the government shutdown – Education Article

Are you a federal employee impacted by the partial government shutdown? Here are some options to manage your student loans while you are furloughed or not receiving pay. 1. Postpone Your Payments through a Deferment or Forbearance If you are a federal employee impacted by the partial government shutdown, you may temporarily postpone making your payments through the use of a deferment or forbearance. In particular, economic hardship deferments, unemployment deferments (if receiving unemployment benefits), a general forbearance, or a…

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