Federal Student LoansTatiana Shohov Title IV of the Higher Education Act (HEA) authorises the major federal student aid programs, including the student loan programs, which are the largest source of aid for students. In FY2000, the Federal Family Education Loan (FFEL) programs and the Federal Direct Student Loan (DL) program supported an estimated USD33.1 billion in new loan volume. Several types of loans are available: Federal need-based subsidised Stafford loans (under which the government pays the interest while the borrower is in school, a grace period of deferment); unsubsidised Stafford loans; Federal PLUS loans (for parents of undergraduate students); and Federal Consolidation loans. Overall, student loan volume has been increased in recent years, from USD24 billion in FY1994 to USD33 billion in FY2000. The number of loans being made has increased over the same period going from 6,483,000 to 8,618,000. The average amount that individual students are borrowing in any given year has not increased as dramatically. This new book examines important issues related to this cornerstone of American higher education. |
Contents
Proposals for Reauthorization | 13 |
Student Loan Repayment Program for Federal Employees | 19 |
Flexible Agreements with | 51 |
Copyright | |
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4-year institutions accounts addition administrative agreements allocated amount Percent amount analysis annual apply Appropriations attending authorized average award banks benefits bill borrowers budget campus-based Center for Education changes considered costs Data default Department of Education Dependent determining Education Statistics effect eligible employees establish estimates families federal fees FFEL figure financial aid formula FSEOG full-time funds grants guaranty agencies House income increased independent students interest interest rate legislative lenders less limits loan program maximum National Center National Postsecondary Student Note Office participating payments Percent amount Percent percentage performance period Perkins Loan Postsecondary Student Aid projected public 4-year quartile received recruitment repayment program Representative revised Senate Source Stafford Loans Student Aid Study student loan repayment subsidized T-bill Table Third quartile Title tuition U.S. Department undergraduates unsubsidized loans