The office of Federal Student Aid is responsible for directly managing or overseeing an outstanding federal student loan portfolio comprised of billions of dollars in Title IV loans and representing millions of borrowers.
Besides, are federal student loans forgiven after 25 years?
The first program to offer student loan forgiveness was the Income-Contingent Repayment (ICR) plan made available in 1993. It offers lower federal loan payments based on discretionary income. On this plan, the remainder of the loan balance is forgiven after 25 years.
Likewise, people ask, is Sallie Mae a predatory lender?
But those accusations have overshadowed broader claims, detailed in two state lawsuits filed by the attorneys general in Illinois and Washington, that Sallie Mae engaged in predatory lending, extending billions of dollars in private loans to students like Ms. Hardin that never should have been made in the first place.