The Project on Student Debt, an organization that works to identify cost-effective solutions to expand educational opportunity, has posted two borrower guides providing information about student loans.
The first guide provides student loan borrowers with information about loan changes coming on July 1. The second is a downloadable brochure providing information about income-based repayment and public service loan forgiveness options for borrowers.
A Borrower's Guide to July 1, 2008
The first of July is an important date for federal student loans: it's when interest rates and other terms change each year. This July 1, in addition to a drop in costs for many federal loans, thousands of borrowers in public service jobs can take a major step toward student loan forgiveness. Starting July 1, 2008, borrowers can:
- Consolidate to lock in lower interest rates for variable-rate Stafford loans
- Reconsolidate FFEL loans into the Direct Loan Program to become eligible for Public Service Loan Forgiveness
- Get $2,000 more in unsubsidized Stafford loans to undergraduates each year
- Enjoy lower interest rates on new subsidized Stafford loans to undergraduates, and lower origination fees on all Stafford loans.
The Project on Student Debt's new fact sheet tells college students, their parents, and people already repaying their student loans what they need to know about these and other important changes.
New Downloadable IBRinfo Brochure
The Project on Student Debt has produced an introductory brochure about Income-Based Repayment and Public Service Loan Forgiveness that you can share with your colleagues, students, employees, or anyone else who might be interested.
- You can download the full color, double-sided, legal-size brochure and distribute copies yourself; or
- You can email the Project at info@ibrinfo.org, and - while supplies last - they will send up to 100 copies to your school or office free of charge. (If you need more than 100 copies, let them know and we they'll try to accommodate.)
Posted 06/18/08 to www.NASFAA.org. Redistribution to non-NASFAA institutions is prohibited. Please submit Web Site questions or comments to Web@NASFAA.org.
