Student Loan Borrowers Will See Two New Changes from the Education Department Soon

"The U.S. Education Department is taking steps to forgive certain types of student loan debt under the Public Service Loan Forgiveness program. A recent investigation by NPR revealed that Income-Driven Repayment (IDR) plans for federal student loans have been “badly mismanaged.” New policies seek to rectify some of the issues and create more transparency when it comes to IDR payments and repayment options," GoBankingRates reports. 

..."While the new initiatives will make a big impact in student loan debt across the U.S., some don’t believe it is enough. Calling it a 'small step,' CEO and president of the National Association of Federal Student Financial Aid Administrators Justin Draeger told Inside Higher Ed., 'We urge the department to continue to evaluate how the federal government and its contracted servicers can make improvements to fairly and effectively administer the federal student loan programs.'"

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: 4/21/2022

View Desktop Version