爆料社区

Federal Student Loans

Federal Student loans allow students and their parents to borrow money to help pay for college through programs supported by the federal government. Federal Loans offer lower interest rates and better repayment benefits and options than private student loans and are available to students and parents that need help paying for college. File your , beginning January 1 to apply for a student loan.  The priority filing period is January 1 - March 2.

When you accept federal loans your information is transmitted to the National Student Loan Data System (NSLDS), and your information will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system.

Federal Direct Subsidized Loan - provides low interest rates and are available to students who demonstrate financial need based on income and other information provided on the FAFSA. A credit check is not required to receive these loans. The federal government pays the interest on these loans until six months after the student is no longer enrolled in school at least half time.  All Direct Loans are subject to the Direct Loan Annual Limits.
*View Details Direct Loan Limits Chart

Federal Direct Unsubsidized Loan - provides low interest rates and are available to all students regardless of financial need.  A credit check is not required to receive these loans. The student is responsible for the interest, which may be paid while the student is in school or accrued and then added to the principal balance when the student enters repayment, which occurs six months after the student is no longer enrolled in school at least half time. All Direct Loans are subject to the Direct Loan Annual Limits.
*View Details Direct Loan Limits Chart

Federal Parent PLUS Loan - provides government-insured, long-term, low-interest loans for eligible parents of dependent, undergraduate students. Parents may borrow up to the total cost of attendance minus any other aid for which the students are eligible.

- provides government-insured, long-term, low-interest loans for eligible graduate students. Students may borrow up to the total cost of attendance minus any other aid, including Subsidized and Unsubsidized Direct Loans for which the students are eligible.

The U.S. Department of Education produces federal student loan cohort default rates annually.  This rate is the percentage of William D. Ford Federal Direct Loan (Direct Loan) borrowers in repayment by school, who during a federal fiscal year, entered default on their loan(s).

The Cohort Default Rate (CDR) is used by the U.S. Department of Education to determine whether colleges are eligible to receive federal student financial aid. The Department of Education can issue sanctions to schools with default rates above 40 percent in a single year or above 30 percent for three consecutive years.

For students and families, the CDR can potentially indicate a college's value and institutional commitment in helping students avoid loan debt.

A low default rate can also indicate that a college's graduates find employment that provides adequate income to manage their debt. The CDR is used as a component by many college ranking systems as an important item of consideration for prospective students.

爆料社区's 3-Year Cohort Default Rates

*Includes one or more cohorts impacted by the COVID pandemic loan payment pause.