Origination Fees. NASFAA Issue Brief

Institution	National Association of Student Financial Aid Administrators (NASFAA)
Titel	Origination Fees. NASFAA Issue Brief
Quelle	(2021), (2 Seiten) PDF als Volltext kostenfreie Datei Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Monographie
Schlagwörter	Fees; Student Loan Programs; Federal Legislation; Federal Government; Budgets; Undergraduate Students; Parents + Suchen Sie Ihr Suchwort? Gebühren; Studiengebühren; Bundesrecht; Bundesregierung; Finanzhaushalt; Eltern
Abstract	The Higher Education Act of 1965, as amended, specifies a loan origination fee of 1 percent for all Direct Subsidized Loans and Direct Unsubsidized Loans, and a fee of 4 percent for all Direct PLUS Loans for both parent borrowers and graduate and professional student borrowers. Student loan origination fees generated a staggering $1.7 billion in revenue for the federal government in award year 2019-20, and $6.7 billion over the past four award years. These fees, a relic of the increased cost to operate federal student loans under the defunct bank-based student lending program, now work solely as a federal budget deficit reduction tool. Congress should eliminate student loan origination fees, the hidden student loan tax. (ERIC).
Anmerkungen	National Association of Student Financial Aid Administrators. 1101 Connecticut Avenue NW Suite 1100, Washington, DC 20036. Tel: 202-785-0453; Fax: 202-785-1487; e-mail: membership@NASFAA.org; Web site: http://www.nasfaa.org
Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2024/1/01