Student Loan Programs
February 27, 2015
Following a review of 22 private collection agencies, the U.S. Department of Education announced today that it will wind down contracts with five private collection agencies that were providing inaccurate information to borrowers. The five companies are: Coast Professional, Enterprise Recovery Systems, National Recoveries, Pioneer Credit Recovery, and West Asset Management.
February 4, 2015U.S. Departments of Education and Treasury Continue Raising Awareness of Income-Driven Repayment Options for Federal Student Loans
The U.S. Treasury Department and the U.S. Department of Education will continue working with tax preparers during the 2015 tax filing season to increase federal student loan borrowers' awareness of income-driven repayment plans.
August 29, 2014
As a result of President Obama’s executive actions to help make student loans more affordable, the U.S. Department of Education has announced several new steps to help federal student loan borrowers better manage their student debt.
January 24, 2014U.S. Departments of Education and Treasury Announce Collaboration with Intuit Inc. to Raise Awareness about Income-Driven Repayment Options for Students Loans
The U.S. Department of Education, the U.S. Department of Treasury, and Intuit Inc. announced today an innovative private-public collaboration to raise awareness about income-driven repayment plans and other repayment options for federal student loan borrowers.
July 31, 2013"I applaud the bipartisan compromise reached by President Obama and lawmakers on Capitol Hill, offering relief to millions of students and families across the country. The law will cut rates on nearly all new federal student loans and save undergraduates an average of more than $1,500 on loans taken out this year. It is an encouraging step forward in our effort to keep college affordable.
May 22, 2013
Our priority is to ensure that Congress doesn't allow federal student loan interest rates to double on July 1.
April 29, 2013Education Department Announces Changes to FAFSA Form to More Accurately and Fairly Assess Students' Need for Aid
Today the U.S. Department of Education announced that beginning with the 2014-2015 federal student aid form, the Department willfor the first timecollect income and other information from a dependent student's legal parents regardless of the parents' marital status or gender, if those parents live together.
April 26, 2013Webinar for College Seniors and Young Workers to Address Managing Student Loan Debt and Saving for a Secure Financial Future
An April 30 webinar will provide tips and tools to help college seniors and young workers learn to budget for today's needs and tomorrow's goals. "Start Early to Take Charge of Your Financial Future" will be held from 3-4 p.m. EDT on Tuesday, April 30.
January 31, 2013
Student loan interest payments are reported on the IRS Form 1098-E, Student Loan Interest Statement.
If you made federal student loan payments in 2014, you may be eligible to deduct a portion of the interest you paid on your 2014 federal tax return.
December 21, 2012
The U.S. Department of Education announced today that many borrowers are now able to take advantage of a new repayment plan that could lower their monthly federal student loan bills. The plan, known as Pay As You Earn, caps monthly payments for many recent graduates at an amount that is affordable based on their income.