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Great Lakes Higher Education Corporation was one of the largest student loan providers and guarantors in the United States. [1] Headquartered in Madison, Wisconsin, the corporation is non-profit. It was one of the four largest companies which service United States federal student loans: Great Lakes, Nelnet, Navient, and the Pennsylvania Higher ...
Federal student loan interest rates are established by Congress and listed in § 20 U.S.C. § 1087E(b). Because the interest rates are established by Congress, interest rates are a political decision. In 2010, the federal student loan program ran a multibillion-dollar "negative subsidy", or profit, for the federal government.
On July 14, the Biden administration announced it would automatically cancel $39 billion of debt for 804,000 student loan borrowers in the coming weeks. This follows the June 30 Supreme Court 6-3...
Around 44% of federal student loan borrowers who begin repayment in October have a new loan service provider. Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800 ...
HR 4170: “The Student Loan Forgiveness Act of 2012” would give relief to borrowers with both federal and private student loans. HR 4170 also includes the “10-10” programs, which allow borrowers to pay 10% of their discretionary income for ten years with the remaining balance forgiven afterwards. In April 2012, student loan debt reached ...
The Supreme Court is expected to rule on President Biden’s student debt relief plan as soon as Thursday, and one loan servicer in particular has been thrown into the center of the debate. The ...
It was created in 1963 by an Act of the Pennsylvania General Assembly, and engages in loan guaranty, loan servicing, financial aid processing, outreach and other student aid programs. It was announced on July 8, 2021 that the agency and the United States Department of Education would not continue their relationship, effective on December 14, 2021.
Student loan servicers are in a tough bind, dealing with reduced staff as they prepare for the unprecedented situation of 44 million borrowers returning to payments later this summer. Student loan ...