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|Require APR for Federal Student Loans|
Require the Disclosure of APR for Federal Student Loans
EFC is strongly in favor of requiring the disclosure of annual percentage rates (APR) for federal student loans. The federal government is currently not subject to the same disclosure requirements as private lenders, and, as a result, consumers are often unaware of the total expense associated with a federal student loan, including origination fees and the potential effects of deferment, forbearance, and interest capitalization on the total cost of their loan.