In turn, the first part of this report provides a detailed look at the defunct FFEL program and the existing Direct Loan program
, including how each one evolved since the federal student loan program's inception in 1965.
President Obama argued that that subsidies paid to private lenders under FFELP were not needed and all of the loans could be made under the direct loan program
Federal Direct Unsubsidized Loans and Grad PLUS would continue to be made until June 30, 2019, to students with outstanding Direct loan Program
In the Worcester-area, officials of two colleges report having had no problems making the transition to the direct loan program
According to Tara Payne, vice-president of Corporate Communications for the New Hampshire Higher Education Assistance Foundation, "Since the Direct Loan program
's inception in 1993, roughly 1,600 schools have been converted over a 16-year timeframe." Somehow, this same task is expected to be completed at more schools in a significantly smaller time period.
If you have federal loans through the Direct Loan program
, you may qualify for an income-contingent repayment plan," she explains.
The direct loan program
has been quite effective for serving the lowest income homebuyers in rural communities, but the Guaranteed Loan Program has seen the biggest increase in funding over the past several years.
The FSA could use its power to simplify the confusing student-loan programs and advocate for more use of the Federal Direct Loan Program
, which cuts out private-lender middlemen to provide loans directly to students.
(107) The real concern would arise if the small business lenders were in fact forced out of the industry, larger lenders do not pick up the slack, and the government's Direct Loan program
is unable to fill the void.
VA's Home Loan Guaranty program and the Native American Direct Loan program
may also be used with the SAH benefit to purchase an adaptive home.
Anyone with federal student loans who works at least 10 years in public service professions and makes income-based payments through the Direct Loan program
would have any remaining loan balance completely forgiven after 10 years.
The Rural Housing Service provides direct loans to developers of affordable multifamily rental housing through the 515 direct loan program
. Funds from the 538 guaranteed loan program are used to construct new or rehabilitate existing rural apartment units for rural residents with low-to-moderate incomes.