New Tools for Student Loan Borrowers
The Department of Education announced new
tools that will help recent college grads better understand their loan
debt and stay on track in repayment.
These two new features include a Complete
Counseling Web page and a new Repayment Estimator that lets the borrower
easily compare monthly payment options under the seven repayment plans
available. Both tools are an ongoing
effort to help students and families make informed and sound financial
decisions throughout each step as they pursue their higher education
goals.
A College Scorecard is now available to help empower students and families with more transparent information
about college costs and outcomes. The Scorecard provides clear, concise
information on cost, graduation rates, loan default rates and the
amount families borrowed for every degree-granting institution in the
country. The College Scorecard, along with the resources from Federal Student Aid, will help students take the right steps, financially and academically, to achieve their college degree.
As many know, managing loans can often be
confusing and overwhelming for college students, and we want to ensure
that graduates have access to tools that will help them successfully
navigate this process. We encourage federal student loan borrowers to
log in at StudentLoans.gov to take advantage of these new resources today!
College Scorecard Example for University of Washington