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Higher Education Act of 1965
The Higher Education Act of 1965 (Pub. L. No. 89-329) (the “HEA”) was a legislation which was signed into law in the United States. The law was part of the then President Lyndon Johnson’s agenda and its aim was “to strengthen the educational resources of our colleges and universities and to provide financial assistance for
American Opportunity Tax Credit
The American Opportunity Tax Credit is a partially refundable tax credit given in the section 1004 of the American Recovery and Reinvestment Act of 2009. Originally proposed by President Barack Obama to help students and families pay for post secondary education, the act required a person to perform community service to avail of the tax
Private Student Loans
Private student loans are those that are provided by private entities or lenders without any backing. In federal loans the capital is backed or guaranteed by the government; however in private loans that is not the case. Such private loans are provided by banks and other financial institutions and advocates of these loans suggest that
Perkins Loans
Perkins Loans are arranged so that the interest of the loan does not accumulate whilst a student is attending school. Moreover, the interest on these loans do not mount up during a student’s grace period after finishing school, which widens for nine months after a student has either left school or finished it by graduating. In
Sallie Mae
SLM Corporation or Sallie Mae as it is commonly known is a publicly funded U.S corporation whose functions include originating, servicing, and collecting on student loans. Simply put, this corporation helps students in paying for their graduate and undergraduate programs. The corporation started in 1972 and primarily provides loans originated under the Federal Family Education
Loan Forgiveness: How It Works
Loan forgiveness is a plan in which student loans are entirely or moderately written down, provided a contender accomplishes certain requirements. In countries where students are obliged to finance their learning with student loans, loan forgiveness programs are planned to assist to make college handier ...
