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Tip of the Week |
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December 13, 2017 |
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By the numbers |
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Most student loan borrowers owe less than $20,000 in federal student loans, according to one of the reports released yesterday by the Department of Education's Office of Federal Student Aid (FSA). In a December 12, 2017 Electronic Announcement, FSA announced they posted eight new reports to the FSA Data Center. The reports provide data on the Direct Student Loan Program, as well as other programs administered by FSA. FSA reports that the number of FAFSA applications increased slightly. As of Sept. 30, 2017, 17 million applications were submitted for the 2017-2018 school year – a 2.5 percent increase in the previous year. However, the report also cautions that the increase may be due to students and parents taking advantage of the earlier filing date. Overall FAFSA submissions have been declining since the 2011-2012 filing cycle. More than just interesting numbers, the reports may provide some insight into what's working and what's not working in the federal financial aid program. | ||||||||||||||||
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