Student Loans News

fraud letters on a dollar
Nov, 19, 2012
The FBI has caught and charged two scam artist brothers from California in a crime to defraud banks out of student loans. The two brothers, Mordechay Altit from Elk Grove and Shay Din Altit of Los Angeles, conspired to falsely represent themselves to multiple banks in order to obtain student loans.
Young distressed student
Nov, 19, 2012
The problems surrounding the mortgage crisis have transferred to another important market: student loans. According to research by the Consumer Financial Protection Bureau (CFPB), not only are students growing an unfathomable number of debts, but they are finding it difficult to repay their loans. In an annual report by the Student Loan Ombudsman, about 2,900 private student loan complaints were received and analyzed. Private student loan borrowers complained of three major issues in the report.
University building
Nov, 14, 2012
Universities across the United States are reforming their loan programs to prepare for a monumental change in government student loan policy. North Carolina based Davidson College started an ambitious “no loan” policy. The college started the financial plan in 2007 and does not include loans in student financial aid award letters. Funding is provided through grants and student employment. In order for this radical plan to uphold, it must raise $70 million to permanently endow the financial policy. The college currently has 1,920 students: a small chunk of the nationwide student population.
debt ball and chain weighted down
Nov, 12, 2012
The news is rife with stories of young borrowers struggling with their student debt. However, another group is equally, and increasingly, burdened by student debt: parents. In New York, Michele Fitzgerald was no doubt ecstatic when her daughter, Jenni, went off to college. Then the inevitable—and possibly even bizarre—happened. Michele became the one crushed under debt.
grocery cart filled with food
Nov, 9, 2012
Students and graduates are having a hard time managing college loan payments, but now reports show they are having trouble eating. According to the Washington Post, an increasing number of students are being pushed to survive on food stamps. Across the country there are 47 million people on food stamps due to a weak job market and slow economy. Part of this tragic number are young students who wish to gain an education using college loans in order to have a better chance of success in their lives.
Money and handcuffs
Nov, 7, 2012
In the past week, two East-coast residents were found guilty and or charged for college loan fraud schemes: one involved a money-swindling company, and the other involved forged documents. Clearwater, Fla. Yesterday, a Clearwater woman was sentenced to a year in federal prison and three years of supervised release for conspiring to commit federal college loan aid fraud.  
Worker using laptop
Nov, 6, 2012
Despite the staggering prediction of 21.6 million American students attending higher education this year, a college degree is not always necessary. The Bureau of Labor Statistics reported that 25 percent of college graduates are in jobs that do not require a college degree. In fact, only seven out of the 30 fastest growing jobs in the U.S. require a bachelor’s degree.
hundreds in cash money
Nov, 5, 2012
On Nov. 1 the “Pay as You Earn” student debt payment plan was finalized. Under the plan’s features, some college graduates will have the ability to tie their federal college loan payments to 10 percent of their discretionary income. Following a period of steady payments, participants’ debt will be forgiven after 20 years. “This will give flexibility to graduates who are considering lower-paying jobs with the government, or nonprofits,” said Carly Robinson, a former University of Colorado student government leader, according to the Boulder Daily Camera.
three minority graduates
Nov, 2, 2012
A recent report has found that 40 percent of Latinos borrowed student loans compared to 43 percent of non-Hispanic whites and 51 percent of non-Hispanic blacks. These students contributed to the mounting $1 trillion student debt with the loans they borrowed. The report came from the Campus Progress and Center for American Progress and highlights how minorities are disproportionately affected by student debt.
University in Scotland
Oct, 31, 2012
Thousands of Scottish students have been left without student loans and scholarships by the Scottish government. About 6,000 students have not had a funding application processed by the Student Awards Agency for Scotland (SAAS), even though the semester is almost half complete. The SAAS funding issues have left students without student loans for tuition, rent or food money. Some students have even been forced to leave their schools.