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This week on a special episode of “Off The Cuff,” Justin is joined by U.S. Department of Education Under Secretary James Kvaal to discuss the administration's Saving on A Valuable Education (SAVE) repayment plan, a new income-driven repayment (IDR) plan that the administration has been heavily promoting as student loan repayments resume. The conversation dives into the benefits of the plan, the enrollment process, the timeline associated with its implementation, an overview of ED’s student loan portfolio, and more.
Update Note: This represents a change in NASFAA guidance that was recently highlighted by the FAFSA Simplification Act requirement to post all cost components on the school's website. Federal educational loan fees may not be included in the miscellaneous personal expense component of a student’s cost of attendance (COA). Section 472(a)(13) of the Higher Education Act of 1965 (HEA), as amended [20 USC 1087LL], lists the federal educational loan fee allowance as a separate COA component; therefore, it must be similarly itemized in the COA. View the full answer to this question to learn more.
There are still seats available during the current testing window, which remains open through the 21st of this month. Be sure to schedule your exam session soon to secure the time that works best for you. If you haven’t applied yet, take advantage of the waived application fee and complete your application online today. Learn more about the testing process and make sure you meet all of the technical requirements. Utilize these candidate resources to help you prepare for the exam. Can’t make it this time? The next testing window opens on October 1, 2023.