« »

Thursday, June 9, 2016

Who gets financial aid

Either lenders are becoming more generous or students need more money to go to school. The reality behind educational finance is student aid is on the rise as evident in the following infographic. There are two sides to this coin. In the late 1990's, federal student loans were excluded from traditional bankruptcy eligibility. Since then, numerous repayment plans that allow forgiveness of remaining debt after 20-25 years of repayment emerged. These payment plans are largely income driven and are profiled at the U.S. Department of Education.