The Higher Education Act of 1965, as amended, specifies a loan origination fee of 1 percent for all Direct Subsidized Loans and Direct Unsubsidized Loans, and a fee of 4 percent for all Direct PLUS Loans for both parent borrowers and graduate and professional student borrowers. Student loan origination fees, the hidden student loan tax, generated…

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…

Private loans are one of the riskiest ways to finance a college education. Like credit cards, these bank- and lender-originated loans typically have variable interest rates, and these rates are often higher for those who can least afford them. Private loans are not eligible for critical protections and supports that are afforded to federal student…

Title IV of the Higher Education Act of 1965 (HEA; P.L. 89-329, as amended) authorizes the primary sources of federal aid to support postsecondary education students. Title IV programs made over $118 billion in aid available to postsecondary students in FY2020 through Direct Loans and other forms of aid, including $27 billion in Pell Grants. The…

The Higher Education Act of 1965 (HEA; P.L. 89-329, as amended), authorizes numerous federal aid programs that provide support to both individuals pursuing a postsecondary education and institutions of higher education (IHEs). The FAFSA Simplification Act (FSA; Title VII, Division FF of P.L. 116-260) makes significant changes to the underlying…

Federal student loans are an important resource to help millions of individuals pay for higher education. As of March 2024, the Department of Education held $1.5 trillion in outstanding William D. Ford Federal Direct Loans and Federal Family Education Loans for nearly 45 million borrowers. In March 2020, in response to the COVID-19 pandemic,…

The "Student FAFSA Completion Report" (2024) is submitted pursuant to Education Article § 7-212, Annotated Code of Maryland, which requires the Maryland Longitudinal Data System (MLDS) Center to annually produce an annual report, on or before December 15th of each year, beginning in 2023 and ending in 2028, on the submission and…

Californians value higher education, but are concerned about college affordability. Tuition costs vary across California colleges, and nontuition expenses are substantial. Financial aid addresses college affordability, but nontuition costs remain a challenge. California students are less likely to take on student loans. Efforts are underway to…

Earlier this year, Representative Virginia Foxx (R-NC) introduced the College Cost Reduction Act (CCRA), a bill to reform higher education grant and loan programs and to establish new accountability rules for colleges. A key part of the bill would replace the myriad income-driven repayment (IDR) plans for federal student loans, including the Biden…

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,…

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…

The Concurrent Resolution on the Budget for FY2025 (H.Con.Res. 14) includes reconciliation instructions for the House Committee on Education and the Workforce (EDW) and the Senate Committee on Health, Education, Labor, and Pensions (HELP) to reduce spending within their jurisdictions by at least $330 billion and at least $1 billion, respectively,…

Despite the availability of income-driven repayment (IDR) plans--and significant improvements to program design and generosity over time--too many federal student loan borrowers?continue to struggle with repayment. Many struggling borrowers never enroll in an IDR plan; even for some who do,?income-based monthly payments can?still be too high.…