Announcements
***Important Detail on Federal Loan Forgiveness***
Federal Announcement: https://studentaid.gov/debt-relief-announcement/
For more information and eligibility details, sign up for Federal Student Loan Borrower Updates at https://www.ed.gov/subscriptions. Federal loan forgiveness, including determining eligibility, is through the U.S. Department of Education, not EWU.
What We Know So Far: https://studentaid.gov/debt-relief-announcement/one-time-cancellation
Biden capped the loan cancellation at $10,000 for single borrowers making less than $125,000, or households earning less than $250,000. The relief includes current students and borrowers who have federally-held undergraduate, graduate, and Parent PLUS loans where the first disbursement was on or before June 30, 2022. Additionally, borrowers who were dependent students in the 2021-22 year will be eligible for relief based on parental income, rather than their own income. Borrowers who fall under the income caps and who received Pell Grants in college will receive an extra $10,000 — totaling $20,000 in forgiveness. The student debt relief is a one-time, pandemic-related loan cancellation, according to the US Department of Education.
Accessing the StudentAid.gov Website:
The announcement has generated significant interest in the StudentAid.gov website. To manage the high volume of visitors and prevent login errors, a Waiting Room has been activated for StudentAid.gov. The Waiting Room is a “Please Wait” screen. Based on site traffic, the average wait time has been one to two minutes. After the brief wait, visitors can access StudentAid.gov.
Has your family income changed due to COVID-19?
We may be able to help. Financial Aid rules allow us to review your income changes, which may impact your financial aid eligibility. Call 509.359.2314 to schedule an appointment with a member of the financial aid team and discuss your situation.
2022-2023 FAFSA and WASFA
The 2022-2023 Free Application for Federal Student Aid (FAFSA) is available and can be completed any time between now and June 30, 2023, for the 2022-2023 academic year. The Washington Application for State Financial Aid (WASFA), for students unable to submit a FAFSA, is also available. Be sure to submit your application for aid as soon as possible ahead of the term for which you are seeking aid.
Default Rate
As of September 2021, EWU graduates’ default rate on direct loans is 4.0%. This compares favorably with the 5.4% national rate for graduates of four-year public universities and the 7.3% national average for all higher education institutions.