Federal Members of the family Student loan Apps: Federal Stafford Financing, Federal Also, and Federal Combination Mortgage Software – Default Prevention Measures
The top standard prevention tips, apart from thoseconcerning entrances guidance, is secured contained in this section. Therequirements to possess initial counseling out of college students is secured inSection ten, “Entrance Guidance.” Some requirements, such as for instance asmodification in order to deferment arrangements and you may alter so you can pupil andinstitutional qualifications criteria, is actually safeguarded within the particular sectionsof so it section. Margin cards flag this new guidance.
The fresh U. The fresh statutes are located regarding General Provisionsregulations (Part 668) plus in the brand new FFEL System statutes (Part682). Universities with high FFEL System cohort default rates was amajor interest of one’s standard reduction statutes as well as subsequentlegislation focusing on the brand new dilemma of defaulted money. These types of actionsby law and you will regulation require schools to incorporate pupils withadditional loan guidance also to take specific tips to reduce loandefaults. Read More