Student Loan Programs
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August 29, 2014

U.S. Department of Education Strengthens Federal Student Loan Servicing

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, 2014

U.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

Statement by U.S. Secretary of Education Arne Duncan on the Student Loan Compromise

"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

Statement from Secretary Duncan on Preventing Student Loan Interest Rates from Doubling on July 1

Our priority is to ensure that Congress doesn't allow federal student loan interest rates to double on July 1.

April 29, 2013

Education 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 will—for the first time—collect 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, 2013

Webinar 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.

1098-E Tax Form

Student loan interest payments are reported on the IRS Form 1098-E, Student Loan Interest Statement.

If you made federal student loan payments in 2013, you may be eligible to deduct a portion of the interest you paid on your 2013 federal tax return.

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December 21, 2012

Education Department Launches 'Pay As You Earn' Student Loan Repayment Plan

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.

September 28, 2012

First Official Three-Year Student Loan Default Rates Published

The U.S. Department of Education today released official FY 2010 two-year and official FY 2009 three-year federal student loan cohort default rates. This is the first time the Department has issued an official three-year rate, which was 13.4 percent nationally for the FY 2009 cohort, a slight decrease from the trial three-year rate of 13.8 percent for the FY 2008 cohort.

July 20, 2012

Education Department Launches New Website and Social Media Tools to Help Students Navigate Financial Aid Process

Today, the U.S. Department of Education announced a new streamlined website and several social media tools that will make it easier for students and families to navigate the financial aid process and make informed decisions about paying for college. The launch of the new website,, follows a report from the U.S.

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