Keyword: studentloans

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  • Time for Colleges to Get Some Skin in the Game

    09/17/2018 7:34:54 AM PDT · by reaganaut1 · 14 replies
    City Journal ^ | September 11, 2018 | James Piereson and Naomi Schaefer Riley
    When Education Secretary Betsy DeVos proposed revoking the “gainful-employment” rule last month, critics pounced, claiming that it would “pad the pockets of for-profit colleges,” in the words of Washington’s Senator Patty Murray. In fact, throwing out the rule—penalizing schools whose graduates have lots of debt relative to their earning power—will merely level the playing field. Why should for-profit colleges, the rule’s target, be held to a higher standard than nonprofits, when plenty of for-profit schools provide students with the skills necessary for employment, and plenty of nonprofit schools don’t? DeVos is on the right track. It’s time to stop using...
  • The Innovation Dilemma Facing Betsy DeVos

    09/14/2018 7:34:16 AM PDT · by reaganaut1 · 10 replies
    James G. Martin Center for Academic Renewal ^ | September 14, 2018 | Preston Cooper
    No one can accuse Education Secretary Betsy DeVos of inaction. Just within the past few weeks, her Department of Education announced the overhaul of two major Obama-era regulations. The next stage of DeVos’ agenda will review several of the rules governing which higher education institutions and programs are eligible for federal funding, with an eye toward giving colleges more flexibility. The changes DeVos will likely attempt highlight a dilemma all conservative higher-education reformers face: the tension between promoting innovation and protecting taxpayers. While still in development, DeVos’ agenda comes down firmly on the side of creating a more hospitable environment...
  • I'm 28, Have $100K In Student Loan Debt, & I Can't Find A Full-Time Job

    08/30/2018 9:12:49 AM PDT · by 11th_VA · 280 replies
    Yahoo Finance News ^ | August 29, 2018 | Ludmila Leiva
    For Alexandria Butler-McDow, 28, going to university didn’t provide the freedom and financial security she'd hoped for. After graduating with an associate’s degree from the California Culinary Academy (CCA) in San Francisco, CA, in 2008, Butler-McDow struggled to find a job that would allow her to support herself and her disabled mother while also paying off her enormous student loan bill. Hopeful that a more advanced degree would help her make more money and better manage her debt, Butler-McDow went on to pursue a bachelor’s degree in culinary nutrition, concentrating on clinical dietetics at Johnson and Wales University (JWU) in...
  • Nation’s top student loan official resigns [in protest of Trump]

    08/27/2018 10:37:21 AM PDT · by Red Badger · 48 replies
    AP ^ | 08/27/2018 | Staff
    NEW YORK (AP) — The government’s top official overseeing the $1.5 trillion student loan market resigned in protest on Monday, citing what he says is the White House’s open hostility toward protecting the nation’s millions of student loan borrowers. Seth Frotman will be stepping down as student loan ombudsman at the end of the week, according to his resignation letter, which was obtained by The Associated Press. He held that position since 2016, but has been with Consumer Financial Protection Bureau since its inception in 2011. Frotman is the latest high-level departure from the CFPB since Mick Mulvaney, President Donald...
  • Democrat and Republican voters agree that America faces a student-debt crisis

    08/12/2018 4:55:02 PM PDT · by SeekAndFind · 52 replies
    MarketWatch ^ | 08/11/2018 | Jillian Berman
    Whether the nation’s $1.5 trillion student-debt problem represents a crisis is a matter of debate among policy makers and experts. But ask regular voters what they think and the answer seems pretty clear. More than half of Republicans, 67% of Independents and 71% of Democrats agree that student debt is a crisis, according to a recent poll of 1,000 voters conducted by Lake Research Partners and Chesapeake Beach Consulting on behalf of Americans for Financial Reform and the Center for Responsible Lending, two consumer advocacy organizations. “It’s pretty clear that regardless of political orientation, people see it not just as...
  • Follow the Money: Why Do Universities Oppose the Higher Education Bill?

    06/24/2018 8:26:53 AM PDT · by Kaslin · 8 replies
    Townhall.com ^ | June 24, 2018 | Jane S. Shaw
    When 39 university associations send an open letter to Congress expressing “grave reservations” about proposed legislation, you can be sure that money is involved. No matter how they describe their concern about students, our colleges and universities have spent money at a pace well above inflation for decades, and they have raised tuition and fees in tandem. The federal student loan program has been their “enabler,” so they want to keep the money flowing.New buildings, new stadiums, fitness centers, luxury apartments, a “lazy river” at Louisiana State University, climbing walls at Notre Dame and Rutgers, and a $120 million refurbishing...
  • Disabled veterans invited to apply for tax-free student loan forgiveness

    05/11/2018 8:48:48 PM PDT · by 2ndDivisionVet · 13 replies
    Credible ^ | April 16, 2018 | Matt Carter
    Disabled veterans who may not have realized they can apply to have their student loans forgiven — or who were afraid of the tax implications of claiming the benefit — will soon be getting letters in the mail inviting them to apply for tax-free loan discharges. Until recently, the IRS treated student loan forgiveness granted to disabled borrowers as taxable income. The plight of retired Army 1st. Lt. Will Milzarski, an Afghan war vet who was received a $70,000 tax bill after having $223,000 in loans forgiven, helped inspire Congress to change the law. As part of the changes to...
  • He had $55,000 in student loans, now he owes $330,000 ... Here's how it happened

    05/06/2018 10:57:14 PM PDT · by Wally_Kalbacken · 46 replies
    MSN.COM/CNBC ^ | 5/6/2018 | Annie Nova
    Rick Tallini didn't worry much about the $55,000 in federal student loans he took out for law school in the 1990s. His future seemed bright. Yet in the decades since he graduated, he's struggled to find employment and pay the bills. His original student loan balance, meanwhile, has soared to well over $300,000. "They'll tack this thing to my coffin at this point," Tallini, 61, said.
  • The 10 states where student debt is a big problem

    05/01/2018 6:32:00 AM PDT · by GuavaCheesePuff · 33 replies
    CNBC ^ | April 6, 2018 | Annie Nova
    Student loan debt in America has been called a crisis. The loans many students take out to cover their education can impair them from owning houses and saving for retirement later in life. And many others can't even make their monthly payments. Some 40 percent of borrowers are expected to default on their loans by 2023. In some states, the situation is worse than others. That's the takeaway from a new project by The Urban Institute, a nonpartisan think tank, which has mapped student loan debt across the country. Here are 10 states hit hard by student loans.
  • Some Colleges Try to Burnish Student-Loan Default Rates

    04/27/2018 5:10:29 AM PDT · by reaganaut1 · 8 replies
    Wall Street Journal ^ | April 26, 2018 | Josh Mitchell and Michelle Hackman
    WASHINGTON—Some U.S. colleges and universities are inappropriately urging alumni to postpone payments on their student loans, causing their balances to rise while allowing the schools to skirt regulatory oversight, a government watchdog reported Thursday. The practice is one reason why some borrowers’ balances are rising and so few schools are sanctioned for leaving students in excessive debt, according to the Government Accountability Office report, released by Democrats on the House education committee. The report examines a decades-old law that assigns each college a “cohort default rate.” The law is designed to punish a college if a large share of its...
  • College Made Me a Conservative

    03/18/2018 8:08:50 AM PDT · by Oldpuppymax · 20 replies
    The Coach's Team ^ | 3/18/18 | Jay Stephens
    Have you ever heard the old saying that a conservative is just a liberal who got mugged? Well, I got mugged – to the tune of $60,000 a year. It’s called “tuition.” Like everyone who cons themselves into attending a liberal arts college, I was captivated by the idea of changing the world. I would immerse myself in a diverse pool of academic thought, theory, and action. Well…it didn’t quite work out that way. Over the course of four years, I was transformed from a plucky, free-thinking free spirit into a cranky, get-off-my-lawn conservative. The process started not long after...
  • In Colorado, 11.2 percent of borrowers default on student loans

    03/17/2018 8:16:50 AM PDT · by george76 · 15 replies
    Watchdog News ^ | Mar 15, 2018
    At Everest College in Everett, nearly 30 percent of borrowers who started repaying student loans in 2014 defaulted on those loans by the end of 2016, according to the latest disclosure from the U.S. Department of Education. The data includes students at schools receiving federal student aid who entered repayment on selected federal loans in 2014 and defaulted before the end of the second fiscal year. In Colorado, 82 institutions reported 100,449 students entered repayment on student loans. And 11,204 – or 11.2 percent – defaulted on those loans.
  • Banks Look to Break Government’s Hold on Student-Loan Market

    03/07/2018 5:44:58 AM PST · by reaganaut1 · 26 replies
    Wall Street Journal ^ | March 7, 2018 | Josh Mitchell and AnnaMaria Andriotis
    Private lenders are pushing to break up the government’s near monopoly in the $100 billion-a-year student-loan market. The banking industry’s main lobbying group, the Consumer Bankers Association, is pressing for the government to instate caps on how much individual graduate students and parents of undergraduates can borrow from the government to cover tuition. That would force many families to turn to private lenders to cover portions of their bills. While that could mean lower interest rates for some, it could constrain funding to households with blemished credit histories. A group of investors also is lobbying for legislation to provide a...
  • Anarchy Is Swallowing Up the Social Order

    03/03/2018 4:49:32 AM PST · by Kaslin · 52 replies
    American Thinker.com ^ | March 3, 2018 | E. Jeffrey Ludwig
    Government in the name of order, control, efficiency, organization, the greatest good for the greatest number, solidarity, social justice, and safety is instead ruling over a society that is increasingly disordered, crime-ridden, unjust, and disturbed to an extreme. A word that describes the direction of our acceleration through space and time is anarchy. The momentum toward anarchy began with the move toward federal government expansion. During Woodrow Wilson's presidency, we began to see the implementation of what is now called the administrative state. This was helped along by our participation in WWI, which created the need for more governmental controls....
  • The Rise of the Jumbo Student Loan

    02/20/2018 7:02:15 AM PST · by reaganaut1 · 58 replies
    Wall Street Journal ^ | February 16, 2018 | Josh Mitchell
    During the housing boom of the 2000s, jumbo mortgages with very large balances became a flashpoint for a brewing crisis. Now, researchers are zeroing in on a related crack but in the student debt market: very large student loans with balances exceeding $50,000. A study released Friday by the Brookings Institution finds that most borrowers who left school owing at least $50,000 in student loans in 2010 had failed to pay down any of their debt four years later. Instead, their balances had on average risen by 5% as interest accrued on their debt. As of 2014 there were about...
  • The "radical" case for abolishing student debt

    02/13/2018 10:15:29 AM PST · by Oldeconomybuyer · 52 replies
    CBS "News" ^ | February 13, 2018 | By AIMEE PICCHI
    The GOP tax bill is providing a $1.5 trillion windfall, which will mostly be enjoyed by the rich and corporations. But what if there were another way to spend that money that could benefit more middle-income Americans while eliminating some of the country's inequalities? Look no further than getting rid of America's student debt, argue researchers at Bard College's Levy Economics Institute. They examined the potential impact of canceling the $1.4 trillion in student debt that 44 million Americans are carrying. Erasing it would be a "radical" solution to the student debt crisis, but it would pay off in bountiful...
  • Student Loan Crisis: Another Obama Legacy of Failure

    02/13/2018 6:38:48 AM PST · by Liberty7732 · 75 replies
    There is indeed a student loan crisis. And the numbers show it is entirely the doing of President Obama, with an assist from his supporting cast in the Democrat-run Congress. The crisis has its origins in 2010, when President Obama essentially nationalized the national student lending program by signing a law he had proposed and Congress passed that muscled banks out of the picture as lenders. Banks had been providing government-backed student loans, but Obama, in all of his community organizer wisdom, figured distant government bureaucrats could do it better than bankers and save taxpayers money. It’s laughable, sure, but...
  • Taming the Tuition Tiger

    01/24/2018 9:22:20 AM PST · by Kaslin · 29 replies
    Townhall.com ^ | January 24, 2018 | Virginia Foxx
    Editor's Note: This piece was coauthored by Ed Feulner.You can’t put a price on education, the saying goes, but if you did, it would be very high. And the cost falls on everyone. Indeed, our economy is hampered by a two-pronged higher education problem: collectively, Americans have racked up some $1.4 trillion in outstanding student loan debt. At the same time, that debt has been amassed by those who drop out before earning a degree and by those earning degrees with limited utility in the market. Yet, despite growing evidence that generous federal subsidies have driven tuition increases, policymakers continue...
  • When Students Demand Relief From Their Loans, How Should The Feds Respond?

    01/15/2018 1:13:25 PM PST · by reaganaut1 · 147 replies
    Forbes ^ | January 15, 2018 | George Leef
    Education Secretary Betsy DeVos has kicked the hornets’ nest again, this time by changing the regulations for deciding if a student will be relieved of his or her obligation to repay federal college loans. The way our higher education finance system works, the federal government makes it easy for students to borrow money for college, no matter how academically weak and disengaged they might be. Many schools have been created to cash in on that money by providing educational programs (mostly with a vocational focus) for people who think they need some postsecondary education to land a job. All those...
  • The Student Loan Crisis Explained (Video)

    12/18/2017 2:42:58 PM PST · by jwesleybush · 15 replies
    Byte-Size Politics ^ | 12/18/2017 | Byte-Size Politics
    Students are going into massive student loan debt to enrich college administrators and Wall Street bankers, even while the quality of education declines. America is now paying $10-12,000 more than Germany, France, or the UK for a year of college.