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☆ The Federal Reserve cuts interest rates by a quarter point after election. Here's what that means for you
▼ + stars: | 2024-11-07 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

Mortgage ratesHousing affordability has been a major issue due in part to a sharp rise in mortgage rates since the pandemic. Trump has said he'll bring down mortgage rates — even though 15- and 30-year mortgage rates are fixed, and tied to Treasury yields and the economy. Mortgage rates are unlikely to fall significantly, given the current climate, explained Jacob Channel, senior economist at LendingTree. Federal student loan rates are fixed, so most borrowers won't be immediately affected. But refinancing a federal loan into a private student loan will forgo the safety nets that come with federal loans, such as deferments, forbearances, income-driven repayment and loan forgiveness and discharge options.

Persons: Joshua Roberts, Matt Schulz, Trump, Jessica Caldwell, Edmunds, Trump's, Caldwell, Michele Raneri, Jacob Channel, Mark Kantrowitz Organizations: Federal, Reuters, Auto, Fed, Treasury, TransUnion, Mortgage, Association . Locations: Washington ,, Edmunds, U.S

☆ Military leaders who served under Trump sound the alarm about him winning a second presidency
▼ + stars: | 2024-10-19 | by ( Peter Bergen | ) edition.cnn.com time to read: +5 min

And it is senior military leaders who served under him that have most clearly sounded the alarm about Trump. When he became president, Trump staffed his cabinet with senior generals. Despite Trump’s bromance with the military, senior retired generals and admirals haven’t loved him back. We found that five times more flag officers, 255, were critical of Trump, while 54 supported the Trump administration. Given his longstanding loyalty to Trump, Kellogg will likely return to some senior role if Trump wins in November.

Persons: Donald Trump’s, Mark Milley, Bob Woodward, “, Woodward, Jim Mattis, Milley, Trump, ” Trump, George Patton, Douglas MacArthur, Mattis, John Kelly, Michael Flynn, Trump’s, haven’t, ”, Donald Trump, Kelly, CNN’s Jake Tapper, McMaster, …, Gen, Stanley McChrystal, Osama bin Laden, Kamala Harris, ” Unstated, McChrystal, Bill McRaven, —, Mike Mullen, George Floyd “, Keith Kellogg, Mike Pence, Kellogg, Benjamin Netanyahu, ” Kellogg, didn’t, wouldn’t Organizations: CNN, Trump, Joint Chiefs of Staff, Pentagon, McMaster, Trump White House, Operations Command, The New York Times, Washington Post, Joint Chiefs, Israeli, “, Fox News Locations: ”, New York, Vietnam, Washington , DC, Washington, New America

☆ The Federal Reserve just cut interest rates by a half point. Here's what that means for your wallet
▼ + stars: | 2024-09-18 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

"Interest rates took the elevator going up, but they'll be taking the stairs coming down," he said. That makes paying down high-cost credit card debt a top priority since "interest rates won't fall fast enough to bail you out of a tight situation," McBride said. "Many Americans have been holding off on making vehicle purchases in the hopes that prices and interest rates would come down, or that incentives would make a return," Caldwell said. Student loansFederal student loan rates are also fixed, so most borrowers won't be immediately affected by a rate cut. Eventually, borrowers with existing variable-rate private student loans may be able to refinance into a less expensive fixed-rate loan, he said.

Persons: Spencer Platt, APRs, McBride, they'll, Jacob Channel, Jessica Caldwell, Edmunds, Caldwell, Mark Kantrowitz Organizations: Getty, Treasury, Auto, Fed Locations: New York City, Edmunds

☆ Fact check: Trump falsely claims Harris is talking about bringing back the military draft
▼ + stars: | 2024-09-15 | by ( Daniel Dale | ) edition.cnn.com time to read: +2 min

Washington CNN —Former President Donald Trump has conjured up an inflammatory false claim about Vice President Kamala Harris’ policy positions — baselessly saying Friday that Harris is talking about forcing Americans to serve in the military. Harris is not talking about bringing back the draft and has not put forward any proposals to bring back the draft. (Trump received five draft deferments during the Vietnam War draft, four because he was a college student and a fifth on account of a doctor’s diagnosis of bone spurs in his heels.) It’s entirely unclear what prompted Trump to make his Friday claim, but there has been some media coverage related to the Selective Service System in recent months. Regardless, they are not proposals to revive the draft, and, more to the point here, Harris herself certainly hasn’t called to revive the draft.

Persons: Donald Trump, Kamala Harris, — baselessly, Harris, Trump, “ Organizations: Washington CNN, Selective Service Locations: Las Vegas, Russia, Vietnam

☆ Don't expect 'immediate relief' from the Federal Reserve's first rate cut in years, economist says. Here's why
▼ + stars: | 2024-09-13 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

The federal funds rate, which the U.S. central bank sets, is the rate at which banks borrow and lend to one another overnight. Home loan rates have already started to fall, largely due to the prospect of a Fed-induced economic slowdown. Student loansFederal student loan rates are also fixed, so most borrowers won't be immediately affected by a rate cut. Eventually, borrowers with existing variable-rate private student loans may also be able to refinance into a less expensive fixed-rate loan, according to higher education expert Mark Kantrowitz. However, refinancing a federal loan into a private student loan will forgo the safety nets that come with federal loans, he said, "such as deferments, forbearances, income-driven repayment and loan forgiveness and discharge options."

Persons: that's, McBride, Jacob Channel, it's, Matt Schulz, Bankrate's McBride, Mark Kantrowitz Organizations: Treasury, Mortgage, Association, Auto, Consumers Locations: U.S

☆ After various degrees and a brain injury, I owe $150,000 in student loans. The lawsuits and election only make it worse.
▼ + stars: | 2024-08-04 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +6 min

I wasn't prepared for the reality of my teaching salary or complicated nature of interest on student loans. I'm 35 now and have a long, winding history with my student debt, from income-driven repayment plans, to in-school deferments, to the SAVE plan, which an appeals court just blocked. And with the lawsuits and delays, my $150,000 of worth of debt in private and federal loans is now in limbo. AdvertisementThe lawsuits feel political to me, but I just don't see why politicians are interested in hindering my ability to survive. The election looms before me, with my financial future depending on who occupies the White House and how they feel about student debt.

Persons: Shanna Hayes, I'd, wasn't, I've, deferments, —, it's Organizations: Service, New England College, SAVE, House Locations: New York, New Hampshire

☆ The Federal Reserve sets the stage for a rate cut — here's what that means for your money
▼ + stars: | 2024-07-31 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

In the wake of the rate hike cycle, the average credit card rate rose from 16.34% in March 2022 to more than 20% today — nearing an all-time high. A recent report from the Philadelphia Federal Reserve showed credit card delinquencies at an all-time high, according to data going back to 2012. The best move for those with credit card debt is to take matters into their own hands, advised Matt Schulz, chief credit analyst at LendingTree. Home loan rates have already started to fall, largely due to the prospect of a Fed-induced economic slowdown. Student loansFederal student loan rates are also fixed, so most borrowers aren't immediately affected by the Fed's moves.

Persons: Greg McBride, McBride, Matt Schulz, Jacob Channel Organizations: Philadelphia Federal, Treasury, Auto, Consumers

☆ JD Vance, Trump's 2024 running mate, would likely be the first Marine veteran to serve as vice president if elected
▼ + stars: | 2024-07-18 | by ( Drew F. Lawrence | ) www.businessinsider.com time to read: +10 min

Read previewRepublican presidential nominee Donald Trump on Monday selected Ohio Sen. JD Vance — a Marine veteran, author, and once-critic of the former president — as his running mate for the 2024 election. Military.com could not find any evidence that any vice president served in the Marine Corps . Donald Trump elevated JD Vance to the national stage as his running mate on Monday — and Ukraine is likely worried. The last enlisted vice president was Al Gore, who similarly deployed to Vietnam for six months as an Army correspondent. In April, he used the Iraq War as a historical example against intervention.

Persons: —, Donald Trump, Ohio Sen, JD Vance —, Vance, John McCain, Military.com, Allison Jaslow, Jaslow, Trump, JD Vance, Drew Angerer, Lindsay Chervinsky, George, Dwight D, Eisenhower, Richard, Aaron Burr's, Chervinsky, Dan Crenshaw, Jason Crow, Alex Wong, Joel K, Goldstein, Sen, Ohio, Donald Trump's, Carolyn Kaster, Hugh Hewitt, Joe Biden, Biden, Trump's, Al Gore, Jeffrey Dean, America's, Tucker Carlson, Byron Donalds of, US Sen, Andrew Caballero, Reynolds, George W, Bush, Saddam Hussein Organizations: Service, Monday, Ohio, Marine, Business, National Guard, US Navy, Army, Marine Corps, Afghanistan Veterans, George Washington Presidential Library, Continental Army, American, Terror, Saint Louis University, Washington Post, Military, Trump didn't, Associated Press, Corps, Navy, Iraq, AP, Marines, Ohio State University and Yale Law School, Rep, US, Republican National Convention, Senate Locations: Iraq, Afghanistan, America, —, Ukraine, Vietnam, Texas, Milwaukee, Ohio, Byron Donalds of Florida, Pennsylvania

☆ Finance jobs are more competitive than ever, so some college students are sitting for the industry's most grueling exam before they even graduate
▼ + stars: | 2024-07-15 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

About one in five people who start the CFA process are students, Rob Langrick, chief product advocate at the CFA Institute, told Business Insider. The increase in college students starting the CFA process comes as fewer people overall are taking the exams. CFA Level I sign-ups first dropped in late 2020, given pandemic-induced cancellations and exam deferments. Related storiesIn 2018 and 2019, an average of about 162,000 people took the Level I exam each year. He thought his economics degree didn't cover enough applied finance for the kinds of jobs he wanted to do.

Persons: —, Rob Langrick, Langrick, Eric Wye, Wye, hasn't, shubhangigoel@insider.com Organizations: Service, Chartered Financial, Institute, CFA, Business, CFA Institute, National University of Singapore, Singapore Management University Locations: Wye

☆ Student loan forgiveness deadline is June 30. Here's what borrowers need to know
▼ + stars: | 2024-06-20 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

Those with several student loans who apply for so-called loan consolidation by June 30 — a move that packages multiple federal student loans into a single new loan — may benefit from the temporary policy. Student loan borrowers have until the end of June to meet a deadline that could lead to quicker debt forgiveness. Many student loan borrowers have multiple education loans, either because they borrowed repeatedly throughout college or returned to school at some point. "Many borrowers will get complete debt cancellation, particularly those who have been paying for over twenty years," Fox said. Usually, a student loan consolidation restarts a borrower's forgiveness timeline to zero, making it a terrible move for those working toward cancellation.

Persons: Biden, Jane Fox, Fox Organizations: CNBC, Finance, Treasury Department Locations: deferments

☆ Donald Trump turns 78, a birthday he wishes ‘doesn’t exist’
▼ + stars: | 2024-06-14 | by ( Steve Contorno | ) edition.cnn.com time to read: +9 min

Trump is now 78 years old. “Just remember what I’m telling you: 78 is not old,” Trump asserted to a New York Post gossip columnist almost two years ago. “This is a degraded version of an already horrible person,” Emhoff said in reference to Trump’s Vegas speech. The Biden campaign called Trump “feeble” on social media when the former president ended a post-meeting news conference after five minutes without taking questions. But the observations about Trump’s age and mental state are not just coming from inside the Biden campaign.

Persons: Donald Trump, ’, “, ” Trump, Ivanna, Joe Biden, Biden, –, J.B, Pritzker, deferments, They’re, Trump, ”, Nikki Haley, Nancy Pelosi, Barack Obama, Haley, Ron DeSantis, Trump “, ” DeSantis, can’t, I’m, pounced, Doug Emhoff, ” Emhoff, Taylor Swift, Pelosi’s, Steven Cheung, Biden “, ” Cheung, Alyssa Farah Griffin, ” Griffin, Trump’s, Jonathan Turley, ” Turley, ” CNN’s Edward, Isaac Dovere, Ariel Edwards, Levy, Kristen Holmes, Annie Grayer, Melanie Zanona, Lauren Fox, Kit Maher Organizations: CNN, Las, New, New York Post, Trump, White, ”, Wisconsin Democratic, South Carolina Gov, Republican, GOP, Florida Gov, Congressional Republicans, Wisconsin Republicans, Biden, House, George Washington University Law School Locations: New York, ” Illinois, Wisconsin, Vietnam, Florida, Washington, Milwaukee

☆ Biden administration extends key deadline for student loan forgiveness
▼ + stars: | 2024-05-15 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

The U.S. Department of Education is giving borrowers more time to meet a key student loan forgiveness deadline. "The Department is working swiftly to ensure borrowers get credit for every month they've rightfully earned toward forgiveness," U.S. Borrowers pursuing the popular Public Service Loan Forgiveness program can also receive additional credit from the payment count adjustment, as long as they certify their qualifying employment for those months. The payment count adjustment is an attempt to rectify longstanding issues for student loan borrowers. The Consumer Financial Protection Bureau also found borrowers were needlessly steered into expensive forbearances, during which interest accrues and credit toward forgiveness is paused.

Persons: —, Biden, Education James Kvaal, weren't Organizations: U.S . Department of Education, Education, Finance, Public, Government, Office, Consumer Financial Locations: U.S, deferments

☆ The Federal Reserve holds interest rates steady, offers no relief from high borrowing costs — what that means for your money
▼ + stars: | 2024-05-01 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

"If Americans want lower interest rates, they're going to have to do it themselves," he said. "Going forward, mortgage rates will likely continue to fluctuate and it's impossible to say for certain where they'll end up," noted Jacob Channel, senior economist at LendingTree. Auto loansEven though auto loans are fixed, payments are getting bigger because car prices have been rising along with the interest rates on new loans, resulting in less affordable monthly payments. Student loansFederal student loan rates are also fixed, so most borrowers aren't immediately affected. Interest rates for the upcoming school year will be based on an auction of 10-Year Treasury notes later this month.

Persons: Brett House, aren't, Matt Schulz, Schulz, Jacob Channel, there's, Ivan Drury, Edmunds, Drury Organizations: Columbia Business School, Treasury, Fed Locations: Edmunds

☆ Israeli Supreme Court orders government to stop funding religious schools that defy enlistment
▼ + stars: | 2024-03-28 | by ( Mick Krever | Lauren Izso | ) edition.cnn.com time to read: +2 min

CNN —The Israeli Supreme Court on Thursday ordered the government to stop funding religious schools whose students defy the country’s mandatory military service, posing one of the most serious threats to date for Prime Minister Benjamin Netanyahu’s governing coalition. Netanyahu relies on two Ultra-Orthodox parties – Shas and United Torah Judaism – to maintain a governing coalition. But the exemption has never been enshrined in a law that the Supreme Court views as equitable, and for years has been carried out by patch-work government mandates. After decades of rulings on the subject, the Supreme Court told the government that it was illegal for the government to both fund yeshivas and exempt their students from conscription. In a ruling late Thursday, the Supreme Court said that starting on April 1, the government could no longer transfer funds to yeshivas whose students did not receive legitimate deferments.

Persons: Benjamin Netanyahu’s, Netanyahu, Yoav Gallant, Benny Gantz, “, Ariyeh Deri, ” Young, Yitzhak Goldknopf, ”, Gantz Organizations: CNN, Shas, United, –, National Unity Party, Justice, Court Locations: Israel, The State

☆ The Fed holds interest rates steady. What that means for your money
▼ + stars: | 2024-03-20 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

Annual percentage rates will start to come down when the Fed cuts rates, but even then they will only ease off extremely high levels. That's up from 4.4% when the Fed started raising rates in March 2022 and 3.27% at the end of 2021, according to Bankrate. Doug Duncan, chief economist at Fannie Mae, expects mortgage rates will end the year at 6.4%, but that won't provide much of a boost for would-be homebuyers. If rates come down and it ramps up demand and there's no supply, the only thing that happens is that home prices go up." Once the Fed cuts rates, "that gives people a little more breathing room," Drury said.

Persons: Brett House, Ted Rossman, Doug Duncan, Fannie Mae, Duncan, Ivan Drury, Edmunds, Drury Organizations: Columbia Business School, Treasury, Fed Locations: Edmunds

☆ The Federal Reserve may not cut interest rates just yet, here's what that means for your money
▼ + stars: | 2024-03-18 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

"Interest rates took the elevator going up; they are going to take the stairs coming down," he said. Annual percentage rates will start to come down when the Fed cuts rates but even then, they will only ease off extremely high levels. "The reality of it is, a lot of borrowers are paying double-digit interest rates on those right now," McBride said. Federal student loansFederal student loan rates are also fixed, so most borrowers aren't immediately affected by the Fed's moves. But undergraduate students who take out new direct federal student loans are now paying 5.50% — up from 4.99% in the 2022-23 academic year and 3.73% in 2021-22.

Persons: Chris Wattie, Greg McBride, McBride, Sam Khater, Freddie Mac's, that's, Ivan Drury, Edmunds, Drury Organizations: Reuters, Treasury, Fed Locations: Edmunds

☆ Americans making student loan payments have up to 36% less saved for retirement
▼ + stars: | 2024-02-19 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +4 min

The study examined the retirement savings habits of more than 50,000 participants between 2017 and 2019 to see how student loan payments affected their contributions. While a higher salary does correlate with higher 401(k) balances and contribution rates overall, it doesn't close the gap between those making student loan payments and those who aren't making such payments. For employees earning less than $55,000 a year, those without student loan payments had balances about 4.5% higher on average than those with student loan payments, regardless of tenure. Lower earners were also less likely to reduce their contributions when they started making student loan payments. "[It's] less disposable income that [borrowers] have, so it's likely a fear reaction," Sam Silberstein, a certified financial planner and certified student loan professional with Student Loan Planner, tells CNBC Make It.

Persons: aren't, Sam Silberstein Organizations: Research Institute, CNBC

Trump told a crowd in Conway, South Carolina, as he and Haley held events across the state ahead of its Feb. 24 Republican primary. Michael Haley began a yearlong stint in June with the South Carolina Army National Guard. Haley is being deployed as a staff officer with the 218th Maneuver Enhancement Brigade, which the National Guard says is providing support in the Horn of Africa. “Donald, if you have something to say, don’t say it behind my back. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues.

Persons: GILBERT, S.C, Donald Trump, Nikki Haley’s, wasn't, Trump, Haley, He’s, ”, Michael, Sen, John McCain, weren’t, Michael Haley, Trump's, Nikki Haley's, Melania Trump, “ Donald, Haley’s surrogates, Chris Wooten, —, Pollard Organizations: National Guard, Republican, South Carolina Army National Guard, 218th, Enhancement Brigade, Associated Press, America Statehouse News Initiative, America Locations: Conway , South Carolina, Vietnam, Horn of Africa, Afghanistan, America

The law has been activated in the wake of the army’s biggest setbacks since the countrywide conflict erupted after the takeover. The rout inspired resistance forces in other parts of the country to launch their own attacks. The military government’s forces were stretched thin by the recent upsurge in resistance activity. The 2021 military takeover was met by widespread nonviolent protests and civil disobedience. But the confrontations escalated into violence after security forces used deadly force against the protesters, giving birth to organized armed resistance that has spiraled into civil war.

Persons: —, extendable, Aung, Suu Kyi, Zaw Min Tun, ”, Min Tun Organizations: Service Law, State Administration Council, National Unity Government, Frontier Myanmar Locations: BANGKOK, State, Suu, Myanmar, Rakhine, Bangladesh, Maj, Zaw, Yangon

☆ How to figure out your timeline to student loan forgiveness, as more borrowers become eligible
▼ + stars: | 2024-01-17 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

Chris Tobin | Digitalvision | Getty ImagesBeginning in February, certain student loan borrowers who have spent a decade in repayment will get their federal student loan debt forgiven, the Biden administration recently announced. Most borrowers need to make payments for 20 years or 25 years on an income-driven repayment plan before their debt is erased. To qualify for the aid, you'll also need to make sure you have eligible federal student loans and that you're enrolled in the SAVE plan. Pandemic-era payment pause countsOther forbearances, deferments may count, tooThe Department of Education gives federal student loan borrowers several options to pause their payments. Due to the timeline of regulatory changes, borrowers may have to wait for some of these periods to be credited to their forgiveness timeline under the SAVE plan.

Persons: Chris Tobin, Biden, you'll, deferments Organizations: Digitalvision, U.S . Department of, Valuable Education, Education, SAVE, of Education, CNBC, Time

☆ Why it's now easier for student loan borrowers to get rid of their debt in bankruptcy court
▼ + stars: | 2023-11-20 | by ( Annie Nova | ) www.cnbc.com time to read: +4 min

Richard Levine | Corbis News | Getty ImagesFor decades, it was nearly impossible for student loan borrowers to walk away from their debt in bankruptcy court. Congress has set a high bar for discharging student loan debt in bankruptcy. Under the new process, student loan borrowers complete a form to assist the government in evaluating their discharge request. "It makes it easier for student loan borrowers to qualify for bankruptcy discharge by clearly setting out the policy," said higher education expert Mark Kantrowitz. Federal student loan borrowers have several ways to reduce their debt burden, including payment plans with $0 monthly payments and economic hardship and unemployment deferments.

Persons: Richard Levine, That's, Biden, —, Mark Kantrowitz, Kantrowitz Organizations: United State Bankruptcy Court Southern District of NY, Corbis, U.S . Department of Justice, U.S . Department of Education, American Bar Association, Consumer, Federal

A student loan is reported as an installment loan on your credit report and can affect your credit score. How to build credit with your student loanPracticing good student loan management can positively affect your credit score. Monitor your credit report — Regularly checking your credit report helps you spot inaccuracies and stay on top of your credit. Consolidate or refinance federal student loansYou can apply for student loan consolidation if you need help managing multiple federal student loans. How student loans affect credit scores frequently asked questionsHow much do student loans affect credit scores?

Persons: servicers, isn't, —, you've Organizations: Federal Locations: Federal

☆ Some student loan borrowers have extra time before payments restart. Here's why
▼ + stars: | 2023-09-21 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

Many people made their usual student loan payment in March 2020, before former president Donald Trump first announced the pause on federal student loan bills and interest accrual, he explained. Depending on when their loan servicer received those funds, it may have been considered an extra payment that has now pushed back their due date. You can contact your loan servicer or log in to StudentAid.gov to learn your exact due date, said higher education expert Mark Kantrowitz. The typical federal student loan bill is $350 a month. If you were enrolled in the standard 10-year repayment plan prior to Covid and still are, your monthly payment should not have changed.

Persons: Buchanan, Donald Trump, servicer, Mark Kantrowitz, they're, Kantrowitz, Grace Locations: StudentAid.gov

☆ Student loan interest resumes today — what that means for borrowers
▼ + stars: | 2023-09-01 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

The interest rates on federal student loans are fixed once disbursed, but vary depending on when they're taken out. "Millions of federal student loan borrowers are starting to adjust to the reality of having to figure out how to bake their student loan payments into their budget once again," said Betsy Mayotte, president of The Institute of Student Loan Advisors, a nonprofit. The typical monthly student loan bill is around $350. As a result of the policy, the average borrower likely saved around $15,000 in student loan payments during the pause, including around $5,000 in interest charges. Student loan borrowers can check their interest rate at Studentaid.gov or with their servicer.

Persons: they're, Betsy Mayotte, Mark Kantrowitz Organizations: The, Student Loan Advisors, Finance

☆ Student loan interest resumes Sept. 1. What that means for subsidized vs. unsubsidized debt
▼ + stars: | 2023-08-31 | by ( Greg Iacurci | ) www.cnbc.com time to read: +2 min

Srdjanpav | E+ | Getty ImagesHow interest accrues on loansDirect Subsidized Loans are available to undergraduate students who demonstrate a financial need. Unlike that of subsidized loans, interest on unsubsidized loans starts accruing immediately upon disbursement and accrues even during deferments or grace periods, making this debt more expensive. The term Stafford Loan is an informal way of referring to Direct Subsidized Loans and Direct Unsubsidized Loans made via the Direct Loan Program. It also refers to subsidized or unsubsidized Federal Stafford Loans made via the Federal Family Education Loan, or FFEL, program. During that time, interest wasn't accruing on any loans — meaning unsubsidized loans essentially became subsidized debt for some borrowers.

Organizations: U.S . Department of Education, Stafford Loans, Department, Education Department, Program, Federal Stafford Loans, Federal Family Education Locations: disbursement, Stafford

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