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Tag: FedLoan
Students
Student Loan Service FedLoan Will Not Renew Federal Contract
Student loan servicer The Pennsylvania Higher Education Assistance Agency (PHEAA)— also known as FedLoan — will not renew its contract with the federal government when it expires in December, The New York Times reported. FedLoan oversees loans of 8.5 million student borrowers. It is one of the companies the Education Department pays to manage the […]
July 9, 2021
News Roundup
Report Reveals Department of Education Ignored Warnings About Public Service Loan Forgiveness
A new report by the House Committee on Education and Labor shows that the Department of Education disregarded signs that Public Service Loan Forgiveness wasn’t being implemented properly. The report – “Broken Promises: How the Department of Education Failed Its Public Servants” – reveals internal audits in 2016 and 2017 that raised concerns about FedLoan, […]
October 12, 2019
Home
House Committee Hearing Probes Problems with the Public Service Loan Forgiveness Program
Since the Public Service Loan Forgiveness program began in 2007, 99.6 percent of applications have been denied. In response, Congress passed the Temporary Expanded Public Service Loan Forgiveness to broaden the program in 2018. But the low acceptance rate held steady, according to a 2019 Government Accountability Office report.
September 19, 2019
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