Student Loans News

Boss watching intern
Jul, 19, 2013
Internships are an integral part of the collegiate transition from higher education to the work force.  But every experience is not rewarded financially, and sometimes not even academically. The future of unpaid internships could drastically change due to a recent court ruling.
overworked and stressed lawyer
Jul, 16, 2013
The Student Debt Crisis has reached massive proportions now that is has surpassed $1 trillion. However, one group of graduates is suffering more than any other. That group is the graduating class of law students around the country. While the average individual student loan debt per borrower is now in excess of $30,000, that figure doesn’t accurately depict how drastically high it can be for law students who frequently take on six figures worth of student loan debt to complete their studies.
student banging head against chalkboard
Jul, 2, 2013
Congress failed to agree on a deal to keep subsidized Stafford federal student loan interest rates from doubling on July 1. As a result, interest rates have risen from 3.4 percent to 6.8 percent. Stafford federal student loans are fixed-interest college financing that is only available to students who have filled out and submitted a Free Application for Federal Student Aid (FAFSA). There is only a limited amount of money available for Stafford college loans each year, hence the need for students to quickly fill out and submit FAFSAs once a year. 
Graduation cap on money
May, 21, 2013
Those with student loans who graduate this year will have an average of $35,200 in debt. According to a new study by Fidelity Investments, 70 percent of students who graduate with debt in 2013 will have a large balance made up of federal student loans, private student loans, state loans and credit card debts. Furthermore, the study found that half of survey recipients are surprised by the amount of debt they have accumulated.
Student staring at laptop
May, 10, 2013
On average, 60 percent of student loan borrowers regret their financing choices for higher education, according to a recent survey by the American Institute of CPAs (AICPA). According to 2012 statistics from the Federal Reserve Bank of New York, student loan debt impacts over 39 million adults in the United States. This is a 70 percent increase from 2004. Ernie Almonte, chair of the AICPA’s National CPA Financial Literacy Commission, said this difficult reality will become apparent to many new graduates in the coming weeks.
college affordability
May, 6, 2013
A new poll by Gallup found that only 8 percent of university presidents believe higher education is affordable for all students. The survey is the first in a series of quarterly studies on opinions of U.S. college and university presidents on key issues in higher education, including the affordability of higher education and the possibility of alternative education models. The results found that, on a scale of one to five, with one being strongly disagree and five being strongly agree, 16 percent of presidents strongly disagreed with the idea that higher education is affordable for everyone who needs it.
Downtown Detroit Michigan
May, 1, 2013
On Wednesday, a Michigan House panel began debating a new bill concerning student loan payments. The Michigan Competitiveness House Committee met to debate House Bill No. 4182, which was proposed by Michigan State Representative Andy Schor on Feb. 5, 2013.
Man viewing computer in the dark
Apr, 23, 2013
Nearly half of high school seniors do not understand the cost of college, according to a recent survey. The Credit Union National Association (CUNA) survey found that U.S. high school seniors lack the knowledge surrounding college costs and basic terms of student loans. The poll of 847 high school students across the country was conducted online. The survey found a disillusion among students: 70 percent are confident they will receive a high-paying job upon graduating. These students believe that high college costs will not affect their financial futures.
Google Glass
Apr, 22, 2013
A 26-year-old college graduate tried to resell his copy of Google Glass on eBay to repay his student loan debts, but removed the bid due to recent security restrictions. The bidder from Philadelphia, who, for security purposes, would only give the name Ed, said he did not know about Google Glass’s terms of service clause which includes a ban on reselling or loaning the products to others. Once he learned about the clause on Wednesday, he decided to take down the Glass bid which had climbed to over $90,000 in four days.
Student thinking of ideas
Apr, 17, 2013
Students from the University of Virginia (U. Va.) were awarded the first prize in a competition to spread awareness about the growing federal debt. The Up to Us competition, the first of its kind, offered students from 10 different universities to have open discussions with their peers about the federal debt problem. The separate campaigns led to multiple student events, social media efforts and several conversations with members of Congress. Currently, the federal debt is at $16.8 trillion.

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