Student Loans News

Singing graduate
Jul, 19, 2012
Actress Jane Lynch, star of the hit series Glee, has formed a new nonprofit organization designed to help educate students, prospective students and families learn about college financing. Lynch’s new organization is aptly named the National College Finance Center, or NCFC for short. “There are billions of dollars owed by people that are over 60 years old. It follows you through life. So it’s a really important decision you make as you’re about to go to college,” said Lynch in a CBS News interview.
Graduation cap symbol
Jul, 17, 2012
New graduate students are in for a shock now that widespread changes have been implemented for federal college loans. As of July 1, 2012, all graduate students are no longer able to borrow subsidized Stafford loans. Before July, master’s students were allowed to borrow a maximum of $8,500 in subsidized loans. These college loans did not accrue interest while a borrower was a student, and it gave students a six-month grace period after they completed their studies.
Student suicide
Jul, 12, 2012
The economic recession has continued to follow the nation like a shadow. Child hunger has never been higher—despite America being the world’s leading global superpower and arguably the wealthiest country in recorded history— unemployment rates are at their highest since the Great Depression, and college graduates, indebted with college loans, are committing suicide in record numbers. Despite the benefits a college education was supposed to give them, graduates are among the throngs of the unemployed.
Bipartisan handshake
Jun, 28, 2012
On Tuesday the 26th of June, Senate leaders declared they had reached a deal that could prevent interest rates from doubling on student loans. If realized this could save money for over 7 million student loan borrowers. The agreement plans to freeze interest rates at 3.4 percent for one year, instead of reverting back to the 6.8 percent that would have gone into effect on July 1. This agreement would make student loans more affordable at a time when tuition costs have continued to rise. Before the agreement is finalized, it must pass a vote in the House of Representatives.
Niagara Falls
Jun, 15, 2012
Cities across the nation are feeling the economic effects of baby boomers retiring and passing away which dwindles populations and shrinks the labor force. But desperate times call for desperate measures and city officials certainly feel desperate in Niagara Falls, N.Y., where Seth Piccirillo, director of community development is attempting to court young professionals by offering to assist in paying off their student loans.
President Obama Official Portrait
Jun, 8, 2012
After participating in a series of fund-raisers in California, President Obama made a stop in Nevada where he chose to speak at the University of Nevada. At the college, he spoke in front of 2,500 students, who were roused into a chant of, “four more years,” after hearing the president's words. The topic that encouraged such support from the audience was that of student loans. “Making college affordable,” started President Obama. “That’s one of the best things we can do for the economy.” The president’s speech comes less than one month before federal student loan interest rates are scheduled to increase.
Sack of cash
Jun, 6, 2012
A University of Toronto law school graduate paid off his $114,000 student loan balance in one massive payment. Alex Kenjeev, who works for O’Leary Ventures, owned by Kevin O’Leary, the famous venture capitalist and creator of the hit television show, “Shark Tank,” made digital ripples across the internet last week when someone posted a picture of his final student loan payment receipt. The receipt, which gained notoriety after showing up on the social community website Reddit, revealed that Kenjeev forked over $114, 460.30 to satisfy his outstanding debt.
Political Standoff
Jun, 1, 2012
As July 1 fast approaches, the date that federal student loan interest rates are scheduled to double, the two major political parties have both struck down each other’s proposals at extending the artificial interest rate ceiling. The most recent failed vote came as a result of Republican lawmakers voting against a Democratic proposal to pay for the cost of keeping college interest rates low by raising certain businesses taxes.
Asperger's Syndrome
May, 29, 2012
A federal bankruptcy judge ruled in favor of discharging a debtor with Asperger’s Syndrome’s student loan debt, according to the Baltimore Sun. Carol Todd, a 63-year-old woman from Baltimore County, pursued multiple college degrees “as a stepping stone toward a measure of liberation… and perhaps to help her achieve something closer to a normal life,” said Judge Robert A. Gordon, the bankruptcy judge who ruled in favor of discharging Todd’s student loan debt.
May, 14, 2012
An interesting report by Reuters revealed that Ivy League colleges, such as Princeton and Harvard, are leaving graduates with less student loan debt than many public colleges. Ivy League costs continue to remain high, but their generous financial aid policies and the availability of large grants allow students to obtain an Ivy League degree for less than, say, UCLA.