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Federal Student Loan Customer Service In Need Of “Significant” Improvements

Last year, the Department of Education issued more than $96 billion in federal student loans to more than 9.1 million college students. Someday in the future these borrowers will begin repaying these debts, but a new report finds that limitations and a disconnect between the federal government and its contracted loan servicers can make this a daunting and sometimes costly task.  [More]

Apparently Not Many People Pay Off Their Student Loans In One Go

Apparently Not Many People Pay Off Their Student Loans In One Go

John had the money on hand to pay off the rest of his student loans all at once. Lenders don’t seem to get a lot of customers approaching them to do this, since student loan debt generally has lower interest rates than consumer debt. At least we’re guessing that they don’t get very many customers looking to rid themselves of all student loan debt, because they weren’t able to handle the request all that well. At least not without generating a teeny, tiny overpayment.

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Dept. Of Education's New Site Giving Headaches To Folks With Student Loans

Dept. Of Education's New Site Giving Headaches To Folks With Student Loans

Paying your student loan is enough of an annoyance without the Dept. of Education making it more difficult. Unfortunately, the new site for the Federal Student Loan Servicing Center has people tearing their hair out in frustration.

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New Law: All Students To Borrow Directly From Federal Government

New Law: All Students To Borrow Directly From Federal Government

President Obama signed the last piece of the health care legislation today — but it wasn’t actually health care legislation — it was, instead, an overhaul of the federal student lending operation. All students getting federal student aid will now borrow directly from the federal government instead of sometimes having to go through a subsidized private lender.

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