Department of Education Student Loans
The Department of Education (ED) offers student loans to those needing financial assistance to attend college. These loans must be paid back with interest while the borrower is in school. However, the interest rate has recently decreased and now stands at 4.45% as of January 2018. These loans are meant for undergraduate students who have financial need and are unable to repay the loan on their own. The eligibility for these loans is determined by the college or university.
About the federal student loan program
The federal student loan program provides low-interest loans for students and parents. The lender for the loans is the U.S. Department of Education.
Borrowers
Borrowers of Department of Education student loans have a variety of options to settle their debt. These options include a forbearance program. These plans allow you to take a temporary break from repayment until your finances stabilize. Some student loan repayment …
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