What does NSLP do with the 1 percent federal default fee?
The law requires the fee to be deposited into a federally-owned reserve fund that can be used only to pay lenders for student loan defaults and to pay the guarantor for successful default prevention activities. Every guarantor must deposit the 1 percent fee on every Stafford and PLUS loan that is guaranteed. More.
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Related Questions
Why is NSLP collecting a ½ percent default fee when other guarantors are collecting 1 percent and some are not collecting a fee at all?
Does NSLP charge a federal default fee? Does the borrower have to pay it?
The SRF Federal program charges a closing fee on its loans. How is that fee accessed and when is that fee paid?
You live in Houston Texas and your wife wants you to be sixty percent beneficiary and our two adult children twenty percent beneficiary each How can you change this to where you get 100 percent?
What percent of 26 percent is 10 percent?
For a school or organization that is already participating in the NSLP or CACFP and now wants to provide afterschool snacks, does its agreement with the State agency need to be amended?