"The White House is proposing tweaks to the student-loan program that could make the loans less costly for borrowers," MarketWatch reports.

... "Graduate students and parents using the government's PLUS program pay an even steeper origination fee of 4%. The average graduate student in a two-year program pays roughly $1,287 in fees if they're paying back the debt on a 10-year timeline, according to a 2023 analysis from the National Association of Student Financial Aid Administrators."

... "Justin Draeger, the chief executive of NASFAA, said the organization applauds the Biden administration's decision to include eliminating fees in its budget request."

"'These fees act as a hidden tax on student loans and make the process of borrowing money for school even more difficult for students,' he said."

NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.

Publication Date: 3/11/2024