USA Funds, which are the nation’s leading education loan guarantor, has reported that it guaranteed more than $20 billion in federal education loans in order to help students and parents to pay college expenses for the fiscal year ending Sept. 30. A 17% increase is represented by the figure in the dollar volume of loans that are guaranteed by USA Funds as compared with the previous fiscal year.
USA Funds provide Stafford loans and PLUS loans
These loans include the total of more than $17.7 billion in Stafford loans for students and $2.3 billion in PLUS loans to graduate students and to the parents of dependent undergraduate students.
Increase in volume of unsubsidized Stafford loans and PLUS loans
USA Funds saw a significant growth in its volume of two categories of student loans that are affected by recent legislative changes.
