New Online Features Include Aid Summary and Loan Simulator
WASHINGTON — Delivering on U.S. Secretary of Education Betsy DeVos' promise to modernize and personalize customer experience with federal student aid, the Education Department announced today transformative upgrades to StudentAid.gov. The updated website now features new tools, which provide students with detailed information about the grants and loans they have received and guide them to a personalized recommendation for a loan repayment plan. Federal Student Aid (FSA) also launched a pilot that allows a subset of the office's 42 million borrowers, for the first time ever, to make student loan payments directly on http://StudentAid.gov.
These updates complement the President's fiscal year 2021 budget proposal, which includes calls to simplify student loan types, amounts, and repayment options and provide customers with access to an online portal with personalized information to help them easily understand their options and make informed decisions throughout the financial aid life cycle.