News Articles About Direct Loans

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The new semester is just around the corner, which means it is time to start thinking about how you are going to afford the new school session. Student loans can be taken out any time of the year and are useful for paying for textbooks, special classes or summer terms and additional living expenses. Choosing the right student loan can help you reach your education and career goals while still keeping your finances balanced. Here’s what to look for before you take out a student loan this summer.

Which Student Loan Is Best for Me?

June 13, 2022
by Ashley Eneriz
The new semester is just around the corner, which means it is time to start thinking about how you are going to afford the new school session. Student loans can be taken out any time of the year and
President Biden and Congress are debating on cancelling thousands of dollars in student loan debt. As that discussion continues to unfold, it’s worth noting that since the start of the coronavirus pandemic, student borrowers have collectively saved over $90 billion dollars in federal student loan debt.

Student Borrowers Have Saved Billions During Pandemic

May 6, 2021 9:56 AM
by Izzy Hall
President Biden and Congress are debating on cancelling thousands of dollars in student loan debt. As that discussion continues to unfold, it’s worth noting that since the start of the coronavirus
As the Senate prepares to begin looking at similar measures recently passed by the House to stop or further regulate bank-based lending, student-loan companies have been looking for ways to lobby for their own cause, spending millions in the process, according to an analysis of federal records done by  The Chronicle for Higher Education.

Student Loan Bill Meeting Challenges Before Senate Vote

September 28, 2009
by Scholarships.com Staff
As the Senate prepares to begin looking at similar measures recently passed by the House to stop or further regulate bank-based lending, student-loan companies have been looking for ways to lobby for
Despite some Republication opposition, The House of Representatives voted 253-171 to approve a bill Thursday that would stop lending from the bank-based Federal Family Education Loan Program in favor of the Department of Education-run Federal Direct Loans Program by July 2010. The bill, known as the Student Aid and Fiscal Responsibility Act of 2009, would also increase the current maximum Federal Pell Grant from $5,350 to $5,550 and provide for annual increases to the grant in the years to follow through a $40 billion pool of funding over the next decade.

Student Loan Bill Passes in House

September 18, 2009
by Scholarships.com Staff
Despite some Republication opposition, The House of Representatives voted 253-171 to approve a bill Thursday that would stop lending from the bank-based Federal Family Education Loan Program in favor
The House of Representatives is poised to vote today on legislation to eliminate the Federal Family Education Loan Program and increase funding for Federal Pell Grants. The bill, currently known as the Student Aid and Fiscal Responsibility Act of 2009, is widely expected to be approved by the House, possibly with some amount of bipartisan support.  While most of the provisions in the bill have relatively widespread backing, one element has generated a fair amount of controversy. Under the proposed legislation, all federal student loans, such as Stafford Loans and Plus Loans, originated after July 1, 2010 would be part of the Federal Direct Loans Program, rather than the current bank-based system.

House Votes on Student Loan Bill Today

September 17, 2009
by Scholarships.com Staff
The House of Representatives is poised to vote today on legislation to eliminate the Federal Family Education Loan Program and increase funding for Federal Pell Grants. The bill, currently known as
According to newly released data, default rates on federal student loans continued to climb in 2008, reaching a nine-year high of 6.7 percent, most likely as a result of the recession. The annual cohort default rate, released by the Department of Education on Monday, covers federal student loans that went into repayment between October 2006 and September 2007 and had gone into default by September 2008.

Student Loan Default Rates Continue to Rise

September 15, 2009
by Scholarships.com Staff
According to newly released data, default rates on federal student loans continued to climb in 2008, reaching a nine-year high of 6.7 percent, most likely as a result of the recession. The annual
Yesterday, the House of Representatives formally introduced legislation to reshape federal student loans, federal Pell Grants, and other aspects of student financial aid. The Student Aid and Fiscal Responsibility Act of 2009 builds on presidential budget recommendations and features several substantial changes to student aid.

House Introduces Student Aid Bill

July 16, 2009
by Scholarships.com Staff
Yesterday, the House of Representatives formally introduced legislation to reshape federal student loans, federal Pell Grants, and other aspects of student financial aid. The Student Aid and Fiscal
Earlier this week, U.S. Bank announced that it would cease to act as a lender for Stafford Loans issued through the Federal Family Education Loan Program. U.S. Bank was the sixth largest participant in FFELP as of 2008, according to the Student Lending Analytics Blog, yet this news has caused barely a ripple.

U.S. Bank Exits FFELP

July 10, 2009
by Scholarships.com Staff
Earlier this week, U.S. Bank announced that it would cease to act as a lender for Stafford Loans issued through the Federal Family Education Loan Program. U.S. Bank was the sixth largest participant
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