Student Loans News

The White House
Feb, 18, 2013
Upcoming college students and their families just got a helping hand from the government—at least when it comes to determining where to send out college applications. The White House and Department of Education just unveiled the College Scorecard. The point of the College Scorecard is to help prospective students find a learning institution that meets their needs.
Senator with money
Feb, 15, 2013
A new report by the Center for Responsive Politics states that 46 Senators and House representatives have student loan debt. According to 2011 financial disclosure forms, each member listed student loan debt as a liability. The debts, for themselves or their children, add up to a total ranging between $1.8 million and $4.3 million. Exact amounts are unknown because Congressional members are allowed to report debts in ranges.
graduation cap on money
Feb, 11, 2013
Michigan high school students may want to start filling out college applications for Spring Arbor University. The Christian university unveiled plans to partner with the Loan Repayment Assistance Association to offer the incoming freshman class of 2013 the Loan Repayment Assistance Program (LRAP). LRAP gives financial assistance to students that graduate but are unable to earn sufficient income to pay for their college loans.
diploma and cap on money
Feb, 8, 2013
The University of Texas just launched four new financial aid programs that will help with the ever-increasing college loan debt that today’s students are burdened with. With nearly half of all undergraduates borrowing college loans prior to graduation, the University of Texas is no different. Marjorie Smith, executive vice president and provost, told loans.org that the average college loan debt for students graduating from the University of Texas is $26,097. To combat this, the University of Texas at Austin has introduced new aid programs that are open to students who complete certain requirements.
a woman with an empty wallet
Feb, 1, 2013
Unsurprisingly, there’s more bad news about the student debt crisis. FICO Labs and FICO Survey just released two reports that cast a dark and grim future for all of the borrowers affected by the student debt crisis.
shuttle rocket launching
Feb, 1, 2013
Get ready for a curveball in the student debt crisis. Upstart, a new company founded by Dave Girouard, the former President of Google Enterprise, is ready to offer indebted students a chance to shuck off their burdensome debt. However, they aren’t offering refinancing for college loans. Rather, Upstart is offering to give money to indebted students and grads in exchange for those recipients buckling down and pursuing their dreams.
Man offering blank business card
Jan, 9, 2013
The possibilities are limitless for Jason Madsen. Soon, he could be legally called “Bob’s Supermarket,” or his last name can be “.com.” He doesn’t mind, as long as his student loan debts are paid off. Madsen, an ex-law student, is among a small group of indebted students who are willing to do crazy stunts to repay their large outstanding student loan debts.
Student holding books
Dec, 18, 2012
Yesterday, the Consumer Financial Protection Bureau (CFPB) released new procedures the agency will implement for student loan lenders to ensure banking regulations are followed. The new procedures will impact lenders of both private student loans and the servicers for federally guaranteed loans who violate consumer protection laws. It will be used to examine both large banks and non-banks that authorize student loans.
young student yelling through loudspeaker
Dec, 11, 2012
Eleven art students barricaded themselves in the Peter Cooper Suite at Cooper Union College in New York on Dec. 3. The students, members of a group called Free Cooper Union, intended to remain there until their demands were met, which pertained to the college’s plan to change its tuition policy that could lead to the necessity for student loans.
Caution sign student loans
Nov, 29, 2012
Student loan delinquencies reached record highs according to data released yesterday by the Federal Reserve Bank of New York (FRBNY). The report shows that 11 percent of student loans were 90 days or more past due in the third quarter: a rise from 8.9 percent in the previous quarter. The rate was 8.8 percent a year ago. The current rate is the highest seen since the FRBNY started tracking student loan delinquencies in 2003.

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