by Micheal E. McKinnon, M.Ed., CCPS; College Planners of America, Ltd | Aug 19, 2025 | Federal Student Loans
The Affordable Loans for Students Act (the Act) was introduced in Congress on March 10 as an amendment to the Higher Education Act (HEA) of 1965 for the purpose of lowering Federal student loan interest rates to 2%. The rate reduction will apply to all borrowers,...
by Micheal E. McKinnon, M.Ed., CCPS; College Planners of America, Ltd | May 7, 2025 | Federal Student Loans
A Parent PLUS Loan (PPL) is a Federal student loan program that helps parents finance their dependent children’s college education, making it a vital resource for families facing rising college costs. Carrying a fixed interest rate of 9.08% for both the 2024-25...
by Micheal E. McKinnon, M.Ed., CCPS; College Planners of America, Ltd | May 1, 2025 | Federal Student Loans
Private student loans are financial products offered by private lenders to help students finance their college education. They are distinct from Federal student loans provided by the government. Private loans have the potential to fill funding gaps when Federal...
by Micheal E. McKinnon, M.Ed., CCPS; College Planners of America, Ltd | Apr 28, 2025 | Federal Student Loans
A student loan borrower may be contacted by the marketing arm of a Federal student loan service provider for the Education Department (ED) at any time during the term of the loan. The borrower will be asked to transfer their accounts to that provider in exchange for...
by Micheal E. McKinnon, M.Ed., CCPS; College Planners of America, Ltd | Apr 27, 2025 | Federal Student Loans
If a former student is past due on a Federal student loan, there is an obvious way to bring the loan account current. The borrower simply pays the past due amount and continues on with his or her payment plan. However, most delinquent borrowers are unable to do this,...
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