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Keyword: studentloan

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  • MARK CUBAN: 'The Student Loan Bubble Is Going To Burst'

    06/20/2014 11:49:07 AM PDT · by SeekAndFind · 45 replies
    Business Insider ^ | 06/20/2014 | Myles Udland
    Screenshot via Inc.comMark Cuban thinks colleges are going to go out of business.In a clip on, Cuban talks about the student loan bubble, which he says will burst and end badly for colleges.The end of the student loan bubble, Cuban says, will be like the housing bubble, where tuition collapses the way the price of homes collapsed. These collapses will put colleges out of business.Cuban:"It's inevitable at some point there will be a cap on student loan guarantees. And when that happens you're going to see a repeat of what we saw in the housing market: when easy credit...
  • Education Secretary Arne Duncan: No, we don’t actually know the cost of our student loan program

    06/11/2014 3:10:24 PM PDT · by SeekAndFind · 8 replies
    Hotair ^ | 06/11/2014 | Erika Johnsen
    An unsurprising yet groan-inducing addendum to the empty gestureexecutive order President Obama so magnanimously introduced this week to allow millions of student-loan borrowers to cap their monthly payments at 10 percent of their current income and then be fully forgiven after 20 years — a “favor” to borrowers to lessen their burdens that will, in the long run, only serve to inflate future tuition prices and borrowing costs ever further. I missed this on Monday, but the WFB didn’t:CLICK ABOVE LINK FOR THE VIDEO SECRETARY OF EDUCATION ARNE DUNCAN: We actually don’t know the cost yet. Obviously we have...
  • Obama issues another executive order bypassing Congress

    06/09/2014 6:50:42 AM PDT · by SeekAndFind · 31 replies
    American Thinker ^ | 06/09/2014 | Rick Moran
    In a bid to give one of the Democrat's vital constituencies a lhand, President Obama will issue an executive order today that will cap student loan repayments at 10% of a borrower's monthly income.Politico: President Barack Obama said in his weekly address Saturday that he would take action on student loan issues in the coming days, but gave no details. The executive order, first reported by the New York Times, will expand on a 2010 law that capped borrowers’ repayment but left a hole in eligibility for people with older loans. Those left out of that relief include people who...
  • Weekly Address: Obama Vows to Go Around Congress on Student Loans (Video)

    06/08/2014 12:01:37 PM PDT · by blueyon · 38 replies
    Breitbart TV ^ | Breitbart TV/Pam Key
    White House: In this week's address, President Barack Obama underscored the importance of helping to lift the burden of crushing student loan debt faced by too many Americans and......
  • Student Loans Soar To Record $1.111 Trillion, Up 12% In Past Year

    05/13/2014 11:35:12 AM PDT · by SeekAndFind · 37 replies
    Zero Hedge ^ | 05/13/2014 | Tyler Durden
    When the Fed releases its quarterly household credit report, the one item most focused on is the amount of mortgages outstanding and originated in the prior quarter, since courtesy of its monthly consumer credit updates we know that US households have largely given up charging their credit cards at the expense of non-revolving student and car loans. So here is the summary.First, the good news: courtesy of ZIRP mortgage defaults and discharges tumbled in Q1, resulting in an increase in total mortgage debt balances of $8.17 billion, or an increase of $116 billion in the quarter.  Now, the bad...
  • Exploding student loan debt threatens the housing recovery. Here's why...

    02/21/2014 8:07:33 AM PST · by SeekAndFind · 45 replies
    Yahoo Finance ^ | 02/21/2014 | Bernice Napach
    It hasn't been a good week for the housing market. Sales of previously owned homes fell 5.1% in January -- the fifth drop in the past six months -- to a seasonally adjusted annual rate of 4.62 million, the lowest level in a year and a half. New home construction fell 16% in January compared to December -- the biggest percentage drop in almost three years -- and permits slipped by more than 5%. Homebuilders reported a 10-point decline in their confidence index for February to 46 -- below the key 50-point level which separates a growing market from a...
  • 3 Economic Stories That Get Blown Out of Proportion

    08/09/2013 5:38:41 AM PDT · by SeekAndFind · 6 replies
    Motley Fool ^ | 08/09/2013 | Morgan House
    "We exaggerate misfortune and happiness alike." Honore de Balzac wrote. "We are never as bad off or as happy as we say we are."How true, and how relevant to today's hyper-sensational media. Here are three economic stories I find overblown.Overblown story No. 1: Student loans now exceed credit card loansNearly every article on student loans these days carries the same statistic: Student debt now exceeds credit card debt.Is this supposed to be shocking? Am I supposed to be upset that more people are financing bachelor's degrees at 4% interest than plastic garden gnomes at 25% interest?Student debt has put...
  • Your Nosebleed Student Loan Debt Pays The Tuition Of The Classmate Next To You

    07/28/2013 1:01:49 PM PDT · by SeekAndFind · 55 replies
    Forbes ^ | 07/27/2013 | Prof. Mark Hendrickson
    Last year I wrote about some of the myths surrounding higher education in the U.S. You also have to beware of colleges acting to redistribute wealth. Following is an anecdote with which I am intimately acquainted: In the mid-‘90s, there was a family (a white family which you will see is a significant detail) whose daughter had a sterling high school record that guaranteed her acceptance at all but the very top colleges in the country. This girl had everything—a nearly perfect grade point average and strong SAT scores, leadership and citizenship awards, three MVP awards in two different sports,...
  • An Education in Debt (Nearly 37 Mill. Americans owe roughly $1 trillion total in student-loan debt)

    07/19/2013 12:43:43 PM PDT · by SeekAndFind · 20 replies
    Townhall ^ | 07/10/2013 | Tom Purcell
    I don't understand what they are thinking. I speak of the nearly 37 million Americans who owe roughly $1 trillion total in student-loan debt — most of it FEDERAL student-loan debt. And that's for loans taken out before the interest rate on new, federally subsidized student loans doubled a little over a week ago. The numbers are staggering. According to the informational nonprofit American Student Assistance, the average student-loan balance stands at around $24,300. A rough breakdown shows that: • 4.175 million borrowers owe more than $28,000. • 1.67 million borrowers owe more than $54,000. • 501,000 borrowers owe more...
  • Student Loan Debt: Now For The Really Bad News

    07/08/2013 5:04:31 AM PDT · by SeekAndFind · 10 replies
    Forbes ^ | 07/08/2013 | John Tamny
    At this point readers are well aware of the numbers behind student loan debt. As the cost of a college degree has risen, total debt has soared; $1 trillion the latest number. $1 trillion has predictably led to a lot of hand wringing, but as University of Georgia economics professor Jeffrey Dorfman has soberly noted, the median student loan debt balance is a mere $13,000. In short, for most graduating college students the manageable number is worth the door-opening credential that is a college degree. As for those individuals with debt that well exceeds $13,000, Dorfman points out that many...
  • Elizabeth Warren’s Student-Loan Demagoguery

    05/28/2013 8:08:02 AM PDT · by SeekAndFind · 12 replies
    National Review ^ | 05/28/2013 | Ian Tuttle
    "If the Federal Reserve can float trillions of dollars to large financial institutions at low interest rates to grow the economy, surely they can float the Department of Education the money to fund our students, keep us competitive, and grow our middle class.” That is the logic behind the first piece of legislation from Harvard Law School professor-cum-Massachusetts senator Elizabeth Warren, introduced in the Senate two weeks ago. The Bank on Students Loan Fairness Act seeks to extend to students the same loan interest rates allegedly offered to the country’s chief financial institutions. Among the problems with the bill? Said...
  • Obama's Proposed Student Loan Debt Remedy Carries a Hidden Trap

    04/18/2013 8:45:49 AM PDT · by SeekAndFind · 14 replies
    Daily Finance ^ | 04/16/2013 | by Bruce Watson
    America's student loan debt problem is nothing new: For years, the media has been offering up a flood of stories about people facing decades of debt repayment and crushing interest rates. But with tuitions still rising and employment options for college grads still stagnating, America's potential "student loan bubble" is making many experts increasingly jittery. President Obama's recent budget proposal includes a new plan to tackle the problem, but some critics worry that it could leave students in even worse shape. Pay As You Earn, President Obama's first stab at the student loan issue, came late last year. The...
  • The States With The Heaviest Student Loan Debts And Highest Delinquency Rates [Maps]

    04/14/2013 6:38:36 AM PDT · by SeekAndFind · 33 replies
    Business Insider ^ | 04/13/2013 | Rob Wile
    The St. Louis Fed has published two maps showing state averages for overall amount of student debt and delinquency rates on repaying it. A high delinquency rate is bad news because it makes it harder for the student to get credit in the future, which leads to a higher likelihood of the student defaulting on other kinds of debt. Here's the map for highest average student debt.
  • Student loan crisis getting worse (Need for bailout coming?)

    03/29/2013 3:51:35 PM PDT · by SeekAndFind · 31 replies
    American Thinker ^ | 03/29/2013 | Rick Moran
    You didn't think it was possible, did you? This CNBC article details how the snowball keeps picking up steam as it rolls downhill, threatening to crush the entire student loan program: Student-loan defaults surged in the first three months of 2013, while efforts to collect bad loans are faltering, according to credit analysts and government audits. It is the latest twist in a college debt crisis that is hanging over recent graduates and dragging on the broader economy.Credit-rating firm Equifax said $3.5 billion in government and private student loans went bad in the first three months of 2013, the...
  • Now You Can Short The Student Loan Bubble

    03/04/2013 8:12:32 AM PST · by SeekAndFind · 4 replies
    Business Insider ^ | 03/04/2013 | Tyler Durden
    Even as the gargantuan $1+ trillion student debt load has been the bubbly elephant in the room that few are still willing to talk about (as the ease of obtaining very fungible loans, with ultra-low interest rates, have become the primary source of lifestyle funding for a wide swath of Americans who are rotating out of high yielding credit cards into this latest Uncle Sam subsidy, and is thus just one more aspect of the status quo perpetuation), there have been until now zero opportunities for a the proverbial highly convex "ABX" short in the student debt space. This of...
  • How Ugly is the Student Loan Bubble?

    02/05/2013 1:29:39 PM PST · by SeekAndFind · 8 replies
    Wall Street Cheat Sheet ^ | 02/05/2013 | By Eric McWhinnie
    While the student debt bubble has yet to pop like housing, more cracks are appearing. New research shows that college loan debt is dramatically rising and becoming riskier than in past years.FICO (NYSE:FICO), a company that provides analytics including credit scores, recently conducted a study to examine changes in student loans since 2005. To little surprise, the results were quite sobering. The sky-rocketing costs of college have been outpacing inflation for years. As a result, more consumers are taking out student loans to pay for their education. FICO finds that approximately 12 million Americans had two or more open student...
  • Student Loan Crisis Solved -- Next Problem?

    12/30/2012 4:00:10 PM PST · by SeekAndFind · 20 replies
    Forbes ^ | 12/14/2012 | Raj Sabhlok,
    Economists fear we’re racing towards another trillion dollar bubble of student loan debt. But there is a simple way to stop the madness now, before we blow any more taxpayer dollars — or our kids pay an even bigger price. SNIP SNIP A simple solution Admittedly student loans are riskier than most since there is no tangible asset to collateralize (although there certainly is a non-tangible asset — the student’s education). However, all educations are not created equal and should be “appraised” by lenders as part of a student loan determination. College fees and student loan debt have a perverse...
  • This student-debt crisis is escalating quickly

    11/30/2012 8:44:13 AM PST · by SeekAndFind · 18 replies
    Hotair ^ | 11/30/2012 | Erika Johnsen
    Throughout his perpetual campaigning, President Obama has made a big point about being the champion of students and young people in helping to make college more accessible and affordable and helping out with student debt --- and yet, miraculously, here we are with student-loan debt and college tuition prices both quickly ballooning, and no end in sight. Could it be that perhaps the government trying to do more to "help" prospective-and-past students is actually what's dramatically worsening the student-debt problem? From the WSJ: Nearly all student loans—93% of them last year—are made directly by the government, which asks little or...
  • Approaching Crunch Time on the Student Loan Debacle (About to go the way of subprime mortgage mess)

    11/26/2012 11:10:43 AM PST · by SeekAndFind · 36 replies
    American Thinker ^ | 11/26/2012 | Gary Jason
    For a number of years now, a number of critics of the American system of higher education have rightly insisted that there is a "bubble" in the system, with more and more students running up loans in amounts they will find difficult to pay back. This bubble has been fueled by the federal government's lavish subsidization of the student loan program (which was nationalized four years ago), in a way similar to how the housing bubble was fueled by government agencies pushing subprime mortgages. This extensive government largess has produced a number of unintended -- though not necessarily unforeseeable --...
  • Un-PAYDE: Pay as You (Don’t) Earn

    11/02/2012 7:51:33 AM PDT · by eagleye85 · 3 replies
    Eagleye Blog ^ | November 2, 2012 | Bethany Stotts
    Student loans from the federal government cannot be discharged in bankruptcy and have severe consequences upon default. For example, upon default the federal government can garnish your wages and your credit will plummet as your loan account is assigned to a collection agency. With these consequences in mind, the Obama Administration has just recently finished its rules for the Pay As You Earn (PAYE) program. “Today the U.S. Department of Education issued final regulations that will help many more federal student loan borrowers lower their monthly payments and avoid default,” stated The Institute for College Access & Success (TICAS) on...
  • Don't buy myth of student loan 'crisis'

    09/30/2012 10:14:23 AM PDT · by SeekAndFind · 26 replies
    Columbia Tribune ^ | 09/29/2012 | TERRY SMITH
    Some myths are harmless. The myth of President Barack Obama's Kenyan birthplace is annoying but harmless. Some myths are not harmless. The student debt "crisis," sometimes known as the "bubble" or "bomb," is a myth that is inflammatory, misdirected and mischievous. You might have seen dramatic stories in the media about students who borrow $200,000 and wonder how they are going to repay their loans. Fact: One-half of 1 percent of all students borrow that much, according to the College Board. Much less newsworthy are the 43 percent who borrow between $1,000 and $10,000 or the 30 percent who borrow...
  • Student-loan debt: The next bailout?

    07/26/2012 2:02:46 PM PDT · by SeekAndFind · 5 replies
    Hotair ^ | 07/26/2012 | Ed Morrissey
    Haven't we seen this one coming for a while? Back in November at the height of the Occupy movement, when activists demanded a bailout on student loans, Reason TV offered this helpful reminder of all the reasons a bailout would do more damage than it would undo: CLICK ABOVE LINK FOR THE VIDEO Nevertheless, the newly-formed Consumer Financial Protection Board has proposed wiping out student-loan debt --- but only those debts from private lenders: A federal agency is asking Congress to consider letting people wipe out some of their student debt by filing for bankruptcy protection. Consumer advocates, however, say...
  • Rand Paul puts forward measure that would force the Senate to read bills

    07/03/2012 6:59:15 AM PDT · by opentalk · 14 replies
    The Hill ^ | July 2, 2012 | Pete Kasperowicz
    After blasting the Senate last week for passing a 600-page bill no one had time to read, Sen. Rand Paul (R-Ky.) introduced legislation that would force the Senate to give its members one day to read bills for every 20 pages they contain. "For goodness sakes, this is a 600-page bill. I got it this morning," Paul said Friday, just before the Senate approved a massive bill extending highway funding, federal flood insurance and low student loans rates. "Not one member of the Senate will read this bill before we vote on it," he added.
  • These Cities Are Offering Students Loan Repayments Of Up To $15,000

    06/19/2012 5:32:33 PM PDT · by SeekAndFind · 21 replies
    Business Insider ^ | 06/19/2012 | Willy Staley, MyBankTracker
    Many who rail against the costs of higher education and the massive debts that most graduates carry point out that this drives graduates toward high-paying but potentially socially irresponsible jobs, like investment banking or private equity or a hedge fund, or really anything that pays well in this day and age, but is probably slowly gutting our economy. And jobs like this are in New York, San Francisco and Boston and barely anywhere else, so these increasingly unaffordable cities are your only hope as recent graduate of extinguishing massive student debts, right? Have you considered rural Kansas? ABC News reports...
  • Calm Down -- Student Loan Bubble: Not as Bad as It Looks

    06/03/2012 7:33:35 AM PDT · by SeekAndFind · 16 replies
    Motley Fool ^ | 06/02/2012 | Morgan House
    Here's a scary headline from yesterday: "Student loans soar 275% over past decade." It's true. Total student loans outstanding were $241 billion in 2002. Today, it's $904 billion, and it shows no sign of slowing down. "Student loans could be the next housing bubble," former Labor Secretary Robert Reich said in March. He may very well be right, but there's another side to this story. Yes, total student loans have surged over the past decade. But what else happened during that time? The number of students enrolled in colleges jumped 40%: Source: National Center for Education Statistics. The rise in...
  • Student Debt Rises by 8% as College Tuitions Climb (Compared to last year)

    05/31/2012 4:51:32 PM PDT · by SeekAndFind · 6 replies
    Wall Street Journal ^ | 06/01/2012 | By JOSH MITCHELL
    Americans are borrowing more to pay for college while reducing other debt as a weak job market prompts more people to go to school and tuition keeps climbing, new Federal Reserve Bank of New York data show. Americans owed $904 billion in student loans at the end of March, nearly 8% more than a year ago, the New York Fed said Thursday in a quarterly report on consumer credit. That compares with the $679 billion they owed on credit cards at the end of the first quarter. Between the fourth quarter of 2008, when credit-card debt peaked, and the first...
  • Let's Drop the College-For-Everyone Crusade

    05/29/2012 4:08:47 AM PDT · by SeekAndFind · 41 replies
    RCM ^ | 05/29/2012 | Robert Samuelson
    The college-for-all crusade has outlived its usefulness. Time to ditch it. Like the crusade to make all Americans homeowners, it's now doing more harm than good. It looms as the largest mistake in educational policy since World War II, even though higher education's expansion also ranks as one of America's great postwar triumphs. Consider. In 1940, fewer than 5 percent of Americans had a college degree. Going to college was "a privilege reserved for the brightest or the most affluent" high-school graduates, wrote Diane Ravitch in her history of U.S. education, "The Troubled Crusade." No more. At last count, roughly...
  • Student Loan Crisis: Why So Many Colleges May Fail? (The profile of a typical at-risk college)

    05/21/2012 7:26:22 AM PDT · by SeekAndFind · 9 replies
    Sense on Cents ^ | 05/21/2012 | Larry Doyle
    “We know the model is not sustainable,” said Lawrence T. Lesick, vice president for enrollment management at Ohio Northern University. “Schools are going to have to show the value proposition. Those that don’t aren’t going to be around.” (The New York Times; May 14, 2012)Very few topics have received as much attention here at Sense on Cents as the student loan crisis.In my opinion, the size, scope, and impact of this problem is an enormous anchor weighing down our next generation and our nation’s economy.Make no mistake, this anchor is not only impacting thousands of students and families but...
  • Student loan debt for kindergarten? Demand increasing for pre-college tuition assistance: report

    03/28/2012 5:31:09 PM PDT · by SeekAndFind · 3 replies
    NY Daily News ^ | 03/28/2012 | BY RHEANA MURRAY
    When it comes to student loan debt, kindergarten might be the new college. Parents are turning to lenders earlier than ever before, seeking help to pay for their children's elementary, middle and high school educations, according to a report from The Wall Street Journal's SmartMoney. Lenders who specialize in pre-college loans are even available. One of them, Your Tuition Solution, says demand for the upcoming year is already up, according to the website. The requested amount of loans has increased 10% since last year, and its total funding is expected to rise to $20 million for 2012-13. Another company, First...
  • Student Loan Debt: Who Are the 1%? (Those with the most debt have graduate degrees)

    12/03/2011 8:50:46 AM PST · by SeekAndFind · 47 replies
    New York Times ^ | 12/03/2011 | Judith Scott-Clayton
    A continuing refrain of Occupy Wall Street protesters has been “student debt is too damn high,” as James Surowiecki wrote in The New Yorker. In some cases — like for the college graduate profiled in a recent article in the Chronicle of Higher Education who has $100,000 in debt and uncertain job prospects — this is unarguably true. But such cases make for dramatic reading precisely because they are so rare. The first thing to note is that most of those with that much debt have graduate degrees; it is difficult to accumulate that much debt in an undergraduate program....
  • Occupy Wall Street's Latest Plan: Refuse to Repay Student Loan Debt

    11/22/2011 2:49:48 PM PST · by 2ndDivisionVet · 43 replies
    The New American ^ | November 22, 2011 | Brian Koenig
    Occupy Wall Street’s latest grievance centers on student loan programs and higher education reform, and the group’s most recent campaign involves a movement-wide boycott on student loan debt repayment. Early Monday afternoon, a crowd of faculty and student organizers assembled at the southeast corner of New York City's Zuccotti Park to announce Occupy Student Debt, a national initiative directed at recruiting student loan borrowers and requesting that they willfully default on their loan payments. The campaign consists of three pledges: 1. A refusal to make loan payments. This pledge will take effect after a million debtors have signed on to...
  • Recent Grads Struggling to Pay Student Loans (Over 2/3 graduate with debt)

    10/26/2011 8:29:47 AM PDT · by SeekAndFind · 81 replies
    ABC News ^ | 10/26/2011 | Maggy Patrick
    Two-thirds of all college students now graduate with debt, and owe an average of $24,000, as student loans are quickly becoming the only way many Americans can afford a college education. As a result, thousands of young people -- who are also facing high unemployment -- are forced to tackle mountains of debt immediately after graduating, and many are uncertain about their futures. Shannon Johnson, who has been a lawyer at a small, family-owned firm in North Dakota for two years, said she owes more than $150,000 from her undergraduate degree and law school. "Because of my choice to attend...
  • 'Unpaid Student Loan' Raid Claim Refuted as Feds Target California Couple in Fraud Probe

    06/10/2011 7:51:40 AM PDT · by freedomwarrior998 · 213 replies
    Fox News ^ | 6-9-11 | Fox News
    A California man who initially claimed to a local television station that he was roughed up by "SWAT team" members who allegedly battered down his front door to execute a search warrant related to his estranged wife's unpaid student loans was targeted due to an ongoing probe into alleged financial aid fraud. Local law enforcement officials have thus far not commented on the Stockton man's claim to ABC News 10/KXTV that he was grabbed by the neck and placed in handcuffs in back of a patrol car for six hours as his three children looked on during execution of the...
  • SWAT team launch dawn raid on family home to collect unpaid student loans [O's Dept of Education]

    06/08/2011 4:35:31 PM PDT · by grundle · 78 replies
    The Daily Mail ^ | June 8, 2011
    A father was dragged from his home and handcuffed in front of his children by a SWAT team looking for his estranged wife - to collect her unpaid student loans. A stunned Kenneth Wright had his front door kicked in by the raiding party at 6 am yesterday before being dragged onto his front porch, handcuffed and led to a police car with his three children. He says he was then detained for six hours while officers looked for his wife - who no longer lives at the house. Mr Wright was later told by Stockton police that the order...
  • SWAT Team Raids Man's Home Over Student Loans

    06/08/2011 8:54:30 AM PDT · by RIghtwardHo · 92 replies
    Michelle Malkin ^ | 6-8-2011 | RightwardHo
    "Kenneth Wright does not have a criminal record and he had no reason to believe a S.W.A.T team would be breaking down his door at 6 a.m. on Tuesday."
  • College is a scam — so let’s make money off it (skyrocketing student-loan debt)

    05/29/2011 6:55:00 AM PDT · by TigerLikesRooster · 52 replies · 1+ views
    Market Watch ^ | 05/27/11 | James Altucher
    College is a scam — so let’s make money off it Commentary: Debt creates generation of indentured servants By James Altucher NEW YORK (MarketWatch) — We can’t deny it anymore: College is a scam and a bubble — and the reasons why appear below. But I’ll be the first to admit it’s going to take years for that bubble to burst. And while college tuitions are still skyrocketing and student-loan debt is creating a generation of indentured servants, we might as well benefit from it. Many stocks will continue to go up from the multidecade college bubble, even as it...
  • The 10 Most Expensive Colleges In America (Are they worth it?)

    05/17/2011 2:05:41 PM PDT · by SeekAndFind · 60 replies
    Business Insider ^ | 05/17/2011
    You want to give your child the best education money can buy. But is $235,000 for a bachelor's degree really worth it? The top dollar undergraduate program in America is Sarah Lawrence College in Bronxville, N.Y., which charges $58,716 per term for tuition, fees, room and board -- plus a few thousand dollars for textbooks. Sarah Lawrence president Karen Lawrence justifies the sticker price by pointing to the school's small classes where faculty have "twice the student contact as professors at other institutions." Of course, Sarah Lawrence isn't the only university charging students insane prices. We've rounded up the costliest...
  • A Short Course in Student Loan Management

    02/23/2011 7:53:58 AM PST · by Kaslin · 12 replies ^ | February 23, 2011 | Carrie Schwab Pomerantz
    Dear Carrie: I'm in college, and next semester my student loan goes directly to me for the first time. Since it must last the whole school year, I'm worried it won't make it. I've already written out a budget, but I've never been able to stick to one before, so I don't have much faith in myself. What else can I do to make this money last? -- A Reader Dear Reader: Great question -- and so important, not only for managing your school finances but also for preparing yourself for the not too distant future when you'll be out...
  • College Students This Is Your Future: High Unemployment And Student Loan Hell

    10/09/2010 7:54:12 PM PDT · by WebFocus · 47 replies
    The Economic Collapse ^ | 10/07/2010 | Michael Snyder
    Hundreds of thousands of college students all over the United States have just graduated and are getting ready for their first taste of the real world. Unfortunately for them, the real world is not always easy and it is not always fair. In fact, for large numbers of recent college graduates, the transition to a world of high unemployment, brutal student loan payments and lowered expectations can be extremely sobering. But the truth is that we have taught these young people to have a completely unrealistic view of the future. We have told them to take out gigantic student loans...
  • Student Loan Defaults Are Still Rising (defaults at for-profit colleges rising the fastest)

    09/13/2010 12:27:21 PM PDT · by SeekAndFind · 38 replies
    New York Times ^ | 09/13/2010 | Tamar Lewin
    The student loan default rate continued to rise in fiscal year 2008, the latest period for which data is available, with default rates for students at for-profit colleges — already the highest — rising the fastest. Education Secretary Arne Duncan announced Monday morning that the overall student loan default rate for fiscal year 2008 was 7 percent, up from 6.7 percent the previous year. The rates increased to 6 percent from 5.9 percent at public institutions, to 4 percent from 3.7 percent for private institutions and to 11.6 percent from 11 percent for for-profit institutions. The default rates represent a...
  • Default U

    07/19/2010 8:52:44 AM PDT · by AccuracyAcademia · 4 replies
    Accuracy in Academia ^ | July 19, 2010 | Bethany Stotts
    Default U Bethany Stotts, July 19, 2010 Student loan default rates are much higher than government data originally suggest, reports Kelly Field for the Chronicle of Higher Education on July 11. “Unpublished data” obtained by the education news outlet from the Department of Education show that one in five government education loans that have entered repayment since 1995 have gone into default, she reports. How bad, exactly, is this for the former students? “Borrowers who default on their student loans face significant personal and financial burdens,” writes Field. “They become ineligible for additional federal aid and may have their wages...
  • Obama student-loan mystery shrouded by 'politics' ( Eric Holder covering for Obama)

    07/14/2010 1:03:19 AM PDT · by Red Steel · 152 replies
    wnd ^ | July 13, 2010 9:33 pm Eastern | Jerome R. Corsi
    Attorney representing 9 federal employees slams Justice Department A defense attorney representing one of the nine individuals indicted in federal court for looking up President Obama's student loan records characterized the Department of Justice's actions as a political prosecution. "The only reason my client was prosecuted by the federal government was that happened to look up the student loan records of Barack Obama," attorney David R. Treimer of Davenport, Iowa, told WND. Treimer represents John Phommivong, a 29-year-old who is the son of parents who fled Southeast Asia during the Vietnam War. Phommivong has pleaded guilty in the case and...
  • 9 plead not guilty in Obama loan case

    05/24/2010 1:53:09 PM PDT · by Free ThinkerNY · 15 replies · 935+ views
    Associated Press ^ | May 24, 2010
    DAVENPORT, Iowa (AP) - Nine people charged with illegally accessing President Barack Obama's student loan records while working for a Department of Education contractor in Iowa have pleaded not guilty in federal court. The former employees of Vangent Inc. are accused of gaining access to a computer at the contractor's office in Coralville and getting into Obama's records while he was either a candidate for president, president-elect or president.
  • 9 indicted on charges of accessing Obama records

    05/12/2010 7:37:54 PM PDT · by Siena Dreaming · 14 replies · 2,366+ views
    AP ^ | May 12
    DES MOINES, Iowa — Nine people have been indicted in federal court on charges they accessed President Barack Obama's student loan records
  • 9 indicted on charges of accessing Obama records

    05/12/2010 5:16:01 PM PDT · by Free ThinkerNY · 229 replies · 12,046+ views
    Associated Press ^ | May 12, 2010
    DES MOINES, Iowa (AP) -- Nine people have been indicted in federal court on charges they accessed President Barack Obama's student loan records while employed for a Department of Education contractor in Iowa. The U.S. attorney's office says a grand jury returned the indictments Wednesday in U.S. District Court in Davenport.
  • Student loan company: Data on 3.3M people stolen

    03/26/2010 6:23:25 PM PDT · by Tulsa Ramjet · 35 replies · 2,664+ views
    Associated Press ^ | March 26, 2010 | AP
    A company that guarantees federal student loans says personal data on about 3.3 million people has been stolen from its headquarters in Minnesota.
  • Student Loan Bill Poised to Pass in Health Vote

    03/21/2010 9:01:01 PM PDT · by restornu · 14 replies · 672+ views
    NYT ^ | March 21, 2010 | By DAVID M. HERSZENHORN
    WASHINGTON — Along with the major health care legislation, the House on Sunday was poised to approve a major revamping of federal student loan programs that would eliminate fees paid to private banks to act as intermediaries. Instead, the government would expand a direct lending program, a step that the Congressional Budget Office said would save taxpayers $61 billion over 10 years, and use the money to increase Pell grants for students. The bill would set automatic annual increases in the maximum Pell grant, set to rise to $5,975 by 2017 from $5,350 this year. The new Pell initiative also...
  • Two Terrible Ideas in One! (Folding Student-Loan Reform Into the Health-Care Bill as a Package)

    03/16/2010 7:47:35 AM PDT · by SeekAndFind · 14 replies · 584+ views
    National Review ^ | 03/16/2010 | Mona Charen
    It’s interesting that the Democrats are attempting to roll two of their highest priorities into one bill this month. The labyrinthine legislative legerdemain called health-care reform now includes a reconciliation package that would fold in student-loan reform. And by “reform” the Democrats mean increasing direct lending to students by the federal government. Though the two issues may seem utterly unrelated, they do have this in common — both health care and higher education are realms of American life in which government has undermined the operation of market forces and caused artificially high prices. These are two arenas in which the...
  • House Democrats urged congressional budget leader to use outdated estimates of health care bill

    03/10/2010 10:15:37 PM PST · by Frankusa · 5 replies · 218+ views
    From the Washington Post: The projected cost of President Obama's plan to overhaul the federal student loan program has exploded over the past year, making it almost impossible to include the popular measure in the same deficit-reduction package that would be the vehicle for the final pieces of Obama's health care initiative, Democratic sources said on Wednesday. In the weak economy, demand for student loans has risen dramatically, driving up the cost of Obama's proposal to expand Pell Grants and provide them to all who qualify. Congressional budget analysts, meanwhile, have told Democratic lawmakers that they are likely to see...
  • Government takeover of student loan industry appears to be moving forward using pending budget bill

    01/21/2010 5:25:00 AM PST · by tunedin · 43 replies · 1,117+ views
    CNSNews ^ | January 20, 2010 | Matt Cover
    ( – A bill currently before the Senate would empower the Obama administration to nationalize the student lending industry, eliminating the federally subsidized private loans millions of university students rely on to finance their educations. The Student Aid and Fiscal Responsibility Act – currently being considered by the Senate Health, Education, Labor, and Pensions (HELP) Committee – would eliminate the Federal Family Education Loan (FFEL)program.