Student Loans News

Democrat vs. Republican
Oct, 25, 2012
The 2008 election was greatly influenced by student voters, and if this upcoming election on Nov. 6 stays true to predictions, it will be no different. Mark Kantrowitz, the founder of and an expert on paying for college, said student voters have the potential to sway both the Presidential election as well as the Congressional races.
graduation cap on money
Oct, 22, 2012
The average student loan debt rose this year by 5 percent to an average amount of $26,500. In 2011 the average was only $25,350, according to a report from the Institute for College Access and Success’s Project on Student Debt. The same report revealed that roughly two-thirds of all bachelor degree earners had borrowed student loans. Within this group, one-fifth had borrowed private student loans, which feature fewer consumer protections and repayment options than federal loans.
broke student in front of Iranian flag
Oct, 19, 2012
American students aren’t alone in their ongoing struggle with debt and student loans. The economic sanctions against Iran have massively impacted the lives—and budgets—of the many young Iranians who study abroad. Take for example Neda, a 27-year-old young woman that was set to study communications in Cyprus. Unfortunately, monetary sanctions against Iran’s central bank have caused the rial—Iran’s currency—to plummet in value this month. Her $1,500 tuition costs are now out of her upper middle class family’s reach, according to a recent report by Reuters.
graduation cap on money
Oct, 10, 2012
A recent survey found that most admissions directors at both public and private colleges feel that it is perfectly acceptable for students to graduate with debt. The survey also found that public and private student loan debt in the five-figure range was deemed acceptable. Inside Higher Ed ran this latest survey, which was conducted by Gallup on their behalf, on Oct 3.
broke female student
Oct, 2, 2012
For the sixth straight year in a row college loan defaults have risen, according to a Department of Education report. Numbers released by the Department of Education reveal that of the 4.1 million borrowers that began making payments in late 2009 and early 2010, 9.1 percent defaulted within just two years. This is a 0.3 percent increase in defaults from the 8.8 percent seen one year ago.
Piggy bank on money
Sep, 24, 2012
Student loan debt, which has soared past $1 trillion, has taken center stage in the minds of students, parents and now financial aid officials. “What I’ve noticed a change in is people want to talk about debt. In the past, people were like, ‘This is my dream, we’ll figure it out later, and [debt] is a short-term band aid. [Now] they want to be more educated about strategies and financing,” said Carly Eicchorst, the associate director of financial aid at Augsburg College in Minnesota in an interview with US News.
Multiple hands putting puzzle pieces together
Sep, 24, 2012
The State University of New York (SUNY) System said that it will launch a five-point system wide plan to prevent student borrowers from defaulting on their college loans, reported Inside Higher Ed. This announcement comes in the wake of countless student loan debt stories hitting the internet, pleading for the government and our nation’s higher education institutions to make a change to the college financing system. SUNY’s effort, which will launch as a pilot program on six campuses this year, is expected to expand to all 64 community colleges, four-year colleges and universities across the state by next fall.
Money in a bear trap
Sep, 18, 2012
Consolidating student loans is a wise choice that many borrowers choose to undertake when they feel burdened by multiple loans or high interest rates. Unfortunately, student loan consolidation doesn’t always go smoothly. In a story found on the Chicago Sun Times, a borrower named Elizabeth Towle revealed the catastrophic results that can accompany a student loan consolidation processing error.
Man with magnifying glass looking at money
Aug, 27, 2012
The Consumer Financial Protection Bureau (CFPB) made a series of recent announcements hinting that the private student loan market may start to see more government oversight. According to Bloomberg, the CFPB has likened private student loans to the “subprime” loan of the college financing world. But not all private student loan borrowers are subprime, nor do they need to be treated as such.
Government Student Loans Cause Social Security Cuts
Aug, 24, 2012
The current student debt crisis has been centered on the impact it is having on young college-aged borrowers. But despite this emphasis on youth, America’s younger generations are not the only group affected by private and government student loans. The baby boomer generation, which is now reaching the age of retirement, has been keenly impacted by this debt crisis, yet is rarely mentioned amongst the onslaught of youth-centric student debt news.