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Keyword: studentloans

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  • 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.
  • Republicans proposing revamp of federal student aid programs

    12/01/2017 6:43:53 PM PST · by Olog-hai · 9 replies
    Associated Press ^ | Dec 1, 2017 7:38 PM EST
    House Republicans are proposing to revamp federal student loan programs by putting caps on how much students and parents can borrow even as they call for simplifying the application process. The student aid provisions are part of a massive rewrite of higher education legislation introduced by Republican Reps. Virginia Foxx of North Carolina, chair of the House Committee on Education, and Brett Guthrie of Kentucky, chairman of the panel’s higher education subcommittee. “Unfortunately, today’s chaotic maze of federal aid programs, requirements and red tape has driven up college costs and made pursuing and finishing a postsecondary education unworkable for far...
  • Who Is More Likely to Default on Student Loans?

    12/01/2017 9:39:34 AM PST · by reaganaut1 · 19 replies
    Liberty Street Economics (Federal Reserve) ^ | NOVEMBER 20, 2017 | Rajashri Chakrabarti, Nicole Gorton, Michelle Jiang, and Wilbert van der Klaauw
    ... In the next chart, we categorize student loan holders by the selectivity of the college they attended and by the major they pursued. Using Barron’s Profile of American Colleges (2001) ranking of college competitiveness, we classify four-year colleges into two categories: “selective” (colleges ranked “competitive” or above by Barron’s) and “nonselective.” In addition, we classify students into one of four fields, based on their major: “Arts and Humanities” (majors such as languages, sociology, theater), “Business and Law” (economics, legal studies, management), “STEM” (science, technology, engineering, mathematics), and “Vocational” (aviation, cosmetology, welding). In analysis not reported here, we find that...
  • DeVos further freezes Obama's for-profit fraud protections

    10/24/2017 3:10:32 PM PDT · by Olog-hai · 1 replies
    Associated Press ^ | Oct 24, 2017 5:11 PM EDT | Maria Danilova
    The Trump administration is further delaying Obama-era protections for students defrauded by for-profit colleges, saying it needs more time to write new regulations. Tuesday’s announcement renewed criticism by Democrats and advocacy groups that the administration favors the interests of for-profit universities over students. The Education Department posted a notice in the Federal Register saying it wants to delay the borrower defense rule until July 1, 2019, while a new rule is being written. The department estimated that postponing the rule will save taxpayers $46 million. The regulation allows students to have their loans forgiven if their schools deceived them about...
  • App for paying off student loans

    10/13/2017 12:16:30 PM PDT · by Jerrybob · 4 replies
    self ^ | 10-13-17 | self
    Sounds like a good idea.
  • U.S. cracks down on debt collection of private student loans

    09/18/2017 12:25:28 PM PDT · by sparklite2 · 18 replies
    Reuters ^ | 9/18/2017 | Staff
    WASHINGTON (Reuters) - The U.S. Consumer Financial Protection Bureau said on Monday it had ordered National Collegiate Student Loan Trusts and their debt collector, Transworld Systems, Inc to pay at least $21.6 million in penalties and restitution for illegally filing debt collection lawsuits. According to the agency, the companies allegedly sued borrowers without being able to prove the debt was owed or pursued collection on loans that were too old to sue over, and relied on false and misleading legal documents. The CFPB said the trusts had filed at least 486 lawsuits on debt where the statute of limitations for...
  • $78,000 of Debt for a Harvard Theater Degree

    08/08/2017 9:50:37 AM PDT · by Theoria · 97 replies
    The New York Times ^ | 07 Aug 2017 | SOPHIE HAIGNEY
    Twelve years after finishing Harvard’s graduate theater program, Katierose Donohue still pays almost as much in student loans each month — about $650 — as for her share of the rent in Los Angeles. She recently stopped hosting her monthly sketch comedy show, “Ma’am,” because she didn’t always break even on her $200 budget. She’s now working side jobs as a dog walker and a social media copywriter, after past gigs serving at Starbucks and handing out free cigarettes for Camel. She’s never missed a loan payment, but there’s no end in sight: She borrowed nearly $75,000 to attend the...
  • $5 billion in student loans may be dismissed because the lender lost the paperwork

    07/18/2017 10:23:07 AM PDT · by bgill · 39 replies
    Business Insider ^ | July 18, 2017 | Tanza Loudenback
    Billions of dollars in student loans may be wiped out for tens of thousands of borrowers in the US because a lender didn't keep track of the paperwork verifying ownership of the loans, according to The New York Times. The National Collegiate Student Loan Trusts, which holds 800,000 private loans and is one of the country's largest owners of private student loans, is at the center of the legal dispute, the Times reported. Borrowers are failing to repay more than $5 billion of the $12 billion in private student loans held by National Collegiate, sending the loans into default. The...
  • Trump’s silence on student loan crisis is deafening

    06/26/2017 8:16:08 PM PDT · by GuavaCheesePuff · 106 replies
    The Hill ^ | March 1, 2017 | Alan Collinge
    The nation owes about $1.5 trillion in student loans today. Nearly $1 trillion of this was added during the last president’s term. Student loan debt has skyrocketed past credit card debt, and all other revolving consumer debt combined. By the end of next year, the country will pass the $2 trillion mark. This debt is strapped to 44 million people in the country, who carry an average debt of $34,000. Interest alone on this amount is about $90 billion per year. In President Trump’s joint session address last night, however, he said absolutely nothing about the student loan problem.
  • Fannie Mae Introduces Innovative Solutions for Borrowers with Student Loan Debt

    04/27/2017 8:33:12 PM PDT · by Lorianne · 13 replies
    Fannie Mae ^ | 25 April 2017 | Aleksandrs Rozens
    Fannie Mae (FNMA/OTC) announced new policies that will help more borrowers with student debt qualify for a home loan. These innovations address challenges and obstacles to homeownership due to a significant increase in student loan debt over the past decade and provide access to credit for qualified borrowers. The new solutions give homeowners the opportunity to pay down student debt with a mortgage refinance, allow borrowers to exclude non-mortgage debt paid by others as part of the loan application process, and make it more likely for borrowers with student debt to qualify for a mortgage loan by allowing lenders to...
  • Weekly Update: New Clinton Email Lawsuit

    03/25/2017 11:11:43 AM PDT · by jazusamo · 19 replies
    Judicial Watch ^ | March 24, 2017 | Tom Fitton
    JW Goes to Court for Accountability over Hillary Clinton’s Mishandling of Classified Emails JW Sues Over Obama Student Loan Scandal Special Presentation: Government Oversight Challenges’ JW Goes to Court for Accountability over Hillary Clinton’s Mishandling of Classified Emails Lawlessness was the modus operandi of the Obama administration. If it felt a law stood in the way of its intentions, it ignored the law. Seems the Obama intelligence agencies learned this lesson well. In the critical matter of Hillary Clinton’s illegal email practices, the Director of National Intelligence simply ignored a directive requiring a damage assessment and a report. So...