Student loans in the United States

Secretary of Education Betsy DeVos has noted that Federal Student Aid's portfolio "is nearly 10 percent of our nation's debt."

On April 11, 2017, DeVos undid several Obama administration policy memos issued by John King Jr. and Ted Mitchell which were designed to protect student loan borrowers.

This provision, part of the Tax Cuts and Jobs Act of 2017, will sunset on December 31, 2025 unless renewed by Congress.

The act exempts the discharge of certain student loans due to the death or total permanent disability of the borrower from taxable income.

* Federal student loans made to students directly (Stafford and Perkins loans).

Operating as an auxiliary corporation of the California Student Aid Commission, EdFund processes more than $9.3 billion in student loans in the United States annually (including Consolidation loans) and manages a portfolio of outstanding loans valued at $29 billion.

Effective with discharges on or after January 1, 2018, debt discharged due to the death or total permanent disability of the borrower is no longer treated as taxable income.

In an effort to improve the student loan market, startups like LendKey, SoFi (Social Finance, Inc.) and CommonBond were founded to offer student loans and refinance loans at lower rates than traditional repayment systems using an alumni-funded model.

In an effort to improve the student loan market, startups like LendKey, SoFi (Social Finance, Inc.) and CommonBond were founded to offer student loans and refinance loans at lower rates than traditional repayment systems using an alumni-funded model.

Student loan debt in the United States has been growing rapidly since 2006, rising to $1.6 trillion by 2019,

On Nov. 13, 2014 US News reported that according to TICAS About 70 percent of 2013 graduates left college with an average of $28,400 in student loan debt in the United States.

Loans usually must be repaid, in contrast to other forms of financial aid such as scholarships, which never have to be repaid, and grants, which rarely have to be repaid.

Loans usually must be repaid, in contrast to other forms of financial aid such as scholarships, which never have to be repaid, and grants, which rarely have to be repaid.

The schools with the highest amount of student loan debt are University of Phoenix, Walden University, Nova Southeastern University, Capella University, and Strayer University.

The schools with the highest amount of student loan debt are University of Phoenix, Walden University, Nova Southeastern University, Capella University, and Strayer University.

The schools with the highest amount of student loan debt are University of Phoenix, Walden University, Nova Southeastern University, Capella University, and Strayer University.

The schools with the highest amount of student loan debt are University of Phoenix, Walden University, Nova Southeastern University, Capella University, and Strayer University.

The schools with the highest amount of student loan debt are University of Phoenix, Walden University, Nova Southeastern University, Capella University, and Strayer University.

Except for Nova Southeastern, they are all proprietary (profit-making) universities.

Student loan defaults are disproportionately concentrated in the for-profit college sector.

In 2018, the National Center for Education Statistics reported that the 12-year student loan default rate for colleges was 52 percent.

The 12-year student loan default rate for African Americans going to for-profit colleges was reported to be 65.7 percent.