Student loan debt on the rise, says report
The amount of outstanding student loans is on the rise according to a report released in November by the Federal Reserve Bank of New York. Read More…
Obama signs student loan reform, ties interest rates to Treasury note
President Barack Obama signed a bipartisan bill to reform the federal government’s student loan system Friday afternoon, following the expiration of subsidies on some loans July 1 and a resulting month-long legislative battle in Congress. Read More…
Why financial literacy matters
Students must be able to make sound, informed fiscal decisions
More than 76 percent of college students report that they are not prepared to deal with the financial challenges of real life and wished that they had more help with making sound financial decisions. Despite the fact that financial decision-making is more complex today than ever before, 26 states have Read More…
Report compares private student loans to subprime mortgage crisis
The findings of the report indicated that student borrowing from private lenders “rapidly grew” from $5 billion in 2001 to $20 billion in 2008, followed by a “precipitous” decline to less than $6 billion in 2011. Read More…
Fall from grace
HIGHER EDUCATION: The federal government’s removal of the six-month interest grace period for student loans is detrimental and far-reaching.
Students have good news and bad news. Let’s start with the good news. On June 29, Congress reached an agreement to keep student loan interest rates at 3.4 percent, two days before they were scheduled to double. Then there’s the bad news. The federal government is removing the six-month interest grace period for student loans, undergraduate and graduate, and will no longer cover interest on graduate student loans. Read More…
New federal rules affect loan payments for graduate students
The federal government will no longer be covering interest on graduate student loans, and will also remove the six month interest grace period included with these student loans. Read More…
U.S. Senate reaches deal to keep student loan rates low
On Tuesday U.S. Senate leaders announced they have reached a deal that will allow them to avoid increasing student loan interest rates, just five days before the rates were set to double. Read More…
Obama, students push Congress to prevent student loan interest rate increase
President Barack Obama and college students around the country continue to push for congressional action to stop the doubling of student loan interest rates. Read More…
Obama calls for improvements to student loan repayment plan
President Barack Obama is pushing for college students to be more aware of, and have easier access to, income-based repayment of student loans. In a presidential memorandum issued Thursday, Obama directed Secretary of Education Arne Duncan to streamline the process for income-based repayment plans and improve Internet resources for loan Read More…
Loans present threat to families
A massive crisis is quietly building with rapidly burgeoning student college loans caused by equally snowballing increases in college costs: the inability of indebted college students to marry and raise children after graduation. Yet there is an answer to this problem. As noted in a recent article in the Wall Read More…