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Important Updates

News of Note

Explore affordable repayment plans, including the new Saving on a Valuable Education (SAVE) Plan (formerly the REPAYE plan). To learn more about the SAVE plan and other student loan benefits, use the Loan Simulator Tool at StudentAid.gov.

Be on the Lookout for Updates

In Spring 2024, you will see improvements to your experience in managing your federal student loans. Beginning March 11, 2024, we will release updates to the look and feel of our website and you will then need to visit us at our new web address, Edfinancial.StudentAid.gov. Additionally, our emails will now come from .gov email addresses. 

As you determine the best way to finance your education, you should consider the full range of student financial aid options available to you. Private loans are often used to supplement federal student loans, when federal loans are not sufficient to cover the full cost of education.

Private student loans also offer students flexibility in choosing a school or participating in a specialized course of study when federal student loans aren't an option. You will need to work with your school to make informed decisions about which sources of funding are right for you.

Private student loans are for students (at the age of majority), parents of students, other guardians or credit-worthy related co-signers or "co-makers". While many alternative student loan programs require strict, non-negative credit and evidence of repayment capacity, individuals can sometimes borrow from $2,000 up to $15,000 and more per academic year based on cost of attendance minus other financial aid awarded. Interest rates for private student loans are generally variable student loan interest rates adjusted quarterly based on an index plus some percentage.

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