Keyword: studentloans

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  • What Do College Undergrads Spend Their Student Loans On: High-School Classes

    11/19/2014 7:55:12 AM PST · by SeekAndFind · 22 replies
    Zero Hedge ^ | 11/19/2014 | Tyler Durden
    Over the weekend we closed the chapter on the "mystery" of America's collapsing labor force and the record 90+ million Americans out of the labor force. As Pew reported, confirming what we had said all along, it has little to nothing to do with Boomers retiring - simply because under ZIRP they can't afford to retire - and everything to do with Millennials staying in school because they can't find the well-paying jobs they had expected, raking up $1.2 trillion (and exponentially rising) in government-funded student debt in the process. To wit: More and more Americans are outside the...
  • Obama Administration Announces Final Gainful Employment Rule

    10/30/2014 9:36:44 AM PDT · by Oldeconomybuyer · 12 replies
    The Huffington Post ^ | October 30, 2014 | By KIMBERLY HEFLING
    For-profit colleges with graduates unable to pay back their student loans could soon face scrutiny by the federal government. Schools with career-oriented programs that fail to comply with the new rule announced Thursday by the Obama administration stand to lose access to federal student-aid programs. To meet these "gainful employment" standards, a program will have to show that the estimated annual loan payment of a typical graduate does not exceed 20 percent of his or her discretionary income or 8 percent of total earnings. The Education Department estimates that about 1,400 programs serving 840,000 students won't pass. Ninety-nine percent of...
  • Grow Up, Millennials — And Stop Taking Money From Mom And Dad

    10/28/2014 11:48:39 AM PDT · by 2ndDivisionVet · 22 replies
    WBUR-FM's Cognoscenti ^ | October 28, 2014 | Amory Sivertson
    Last month — gulp — I turned a quarter-century old. To the boomers rolling your eyes right now and thinking, Twenty-five? You’re just a kid! I say this: Yes, by some standards, I am. By Beyoncé’s standards, I should have at least six albums and a fashion line under my belt. Regardless, 25 feels significant to me, so when I came across the headline “25 is the New 21” on The Atlantic’s website, I was intrigued — and soon, discouraged. Meet Emma, recent college graduate, daughter of the article’s author, Randye Hoder, and, apparently, exemplar of my generation’s extended childhood....
  • What Is With Our President?

    10/04/2014 3:58:52 PM PDT · by 2ndDivisionVet · 44 replies
    The National Review's Campaign Spot ^ | October 3, 2014 | Jim Geraghty
    From the last Morning Jolt of the week: What Is With Our President? Contemplating President Obama’s confident – and erroneous – assurance that Ebola was unlikely to reach America, and that if it did, America’s hospitals and doctors were prepared to diagnose and respond immediately — a veteran speechwriter for cabinet officials wrote in: In the times that I was involved in speeches for various folks in the previous administration they and those around him were highly attuned to hyperbole and statements such the one Obama made about Ebola. Now people can crack wise about Iraqi intelligence and the like,...
  • Another For-Profit College Bites The Dust

    08/30/2014 8:26:41 PM PDT · by 2ndDivisionVet · 6 replies
    The Daily Caller ^ | August 30, 2014 | Blake Neff
    Nearly 10,000 students across the country are facing an uncertain future following the sudden collapse of another for-profit college system this week. After a summer which saw the dramatic collapse of Corinthian Colleges, fellow for-profit education company Anthem Education is rapidly closing its doors after the company filed for bankruptcy this week. Prior to filing for bankruptcy, Anthem Education had no fewer than 34 different campuses around the country. That number is in rapid free fall, with nine campuses shutting down Friday after the Department of Education failed to approve a deal that would temporarily keep them open. Anthem’s collapse...
  • California couple struggling after being forced to pay deceased daughter’s student loans

    08/06/2014 6:47:14 AM PDT · by Innovative · 90 replies
    FoxNews ^ | Agu 6, 2014 | Fox News
    Lisa Mason had taken out close to $100,000 in student loans in order to pay for nursing school, and was making payments on the debt when she died. Steve Mason said he and his wife, who had co-signed the loans, were contacted immediately after his daughter’s death and were told they must start making payments. “We knew if she didn’t pay her debt we would be responsible by co-signing, but we didn’t know that if she died the debt would fall to us,” he said. Mason said his daughter’s debt has ballooned to $200,000 and the payments exceed $2,000 a...
  • Purchasing Power Sits Idle in the Basement

    07/30/2014 2:30:38 PM PDT · by SovereignSociety · 6 replies
    Economy and Markets ^ | July 29th, 2014 | Rodney Johnson
    Studying and understanding demographic trends is critical when predicting generational spending patterns and long-term economic trends in our economy and markets. The Pew Research Center estimates that in 2012, 57 million Americans lived in multi-generational households, which is defined as two or more adult generations under the same roof. This is more than twice the number of people in such arrangements in 1980. To be clear, no one thinks there’s a rush to bring the aging parents of boomers back into the family home. This is all about the kids who, at this point, have finished their education but...
  • Let Students Discharge College Debts In Bankruptcy? Yes, But...

    07/25/2014 5:42:54 AM PDT · by reaganaut1 · 46 replies
    Forbes ^ | July 24, 2014 | George Leef
    Ever since the obstreperous Occupy Wall Street protests of 2011, Americans have been getting an earful about the alleged crisis of student loan debt. Sensing a chance to appear both compassionate and pro-education, many lawmakers want to do something to ease the plight of indebted students. Senator Elizabeth Warren, for example, is pushing her populist plan of allowing students to refinance their loans at absurdly low interest rates. President Obama recently expanded the touchy-feely repayment system so that students would never have to pay more than ten percent of their discretionary income for 20 years before the rest of the...
  • What Liberals Really Want: 5 Goals for End of Obama’s Presidency (Voting, guns, student loans)

    07/18/2014 3:54:31 PM PDT · by 2ndDivisionVet · 8 replies
    ABC News ^ | July 17, 2014 | Caleb Jackson and Noah Weiland
    From reducing student loan debt to expanding voter rights to dealing with the scourge of violent crime, liberals have laid out an ambitious agenda for the waning years of the Obama presidency. At a day-long summit Wednesday organized by Generation Progress, the youth division of the influential Washington-based think tank Center for American Progress, speakers such as Vice President Joe Biden, Sen. Elizabeth Warren, D-Mass., and House Democratic Leader Nancy Pelosi articulated their goals to a Washington audience of more than 1,000. Here are five issues that came up again and again at the Make Progress National Summit, and the...
  • Student Loan Forgiveness May Be Coming In The Future

    07/06/2014 11:33:09 AM PDT · by Steelfish · 44 replies
    CNBC ^ | July 6, 2014 | Sharon Epperson
    Student Loan Forgiveness May Be Coming In The Future Sharon Epperson CNBC.com For many members of the class of 2014 who borrowed money to attend college, the clock is ticking on what is likely to be their biggest expense after graduation. They'll have to start paying back their federal student loans in November or December—as the six-month grace period that lenders give new grads comes to an end. But depending on their income—or lack of income, if they're still looking for work—some borrowers may be eligible for much lower payments than they'd anticipated. And eventually they could have their federal...
  • Debt Capital Diplomas: Many families facing the hefty price of sending their children to college

    06/23/2014 8:40:28 AM PDT · by SeekAndFind · 19 replies
    Townhall ^ | 06/23/2014 | Harry R. Jackson
    With high school graduation season out of the way, countless families are facing the hefty price tag of sending their children to college. Over the past five years, tuition rates for private four-year colleges have risen 14 percent, while rates for public colleges have risen 27 percent. If you look back thirty years, tuition has risen a shocking 1200 percent. There is plenty of speculation about the reasons for these rising costs, which have outpaced inflation for decades. But far more important to millions of parents is how to minimize and manage them. According to the National Center for Education...
  • The President and Michelle Obama on Work, Family, and Juggling It All

    06/20/2014 1:32:07 PM PDT · by 2ndDivisionVet · 15 replies
    Parade Magazine ^ | June 20, 2014 | Staff
    This week, America’s foreign policy is dominating the headlines, but it’s the White House’s second-term domestic agenda that’s the focus of our Parade cover story. On Monday, June 23, the President and Mrs. Obama will host a Working Families summit in Washington, D.C. to discuss the need for affordable childcare and paid family leave, raising minimum wage, and achieving equal pay for all. In an interview conducted by Parade Editor-in-Chief Maggie Murphy and contributing writer Lynn Sherr on May 20, the Obamas opened up about their personal connection to these issues and what they hope to accomplish during their remaining...
  • Chelsea Clinton: More community service needed

    06/16/2014 5:55:54 PM PDT · by Olog-hai · 38 replies
    Associated Press ^ | Jun 16, 2014 8:20 PM EDT | Christina A. Cassidy
    Chelsea Clinton, who has played an increasingly prominent role in her family’s foundation, used a speech Monday to call for more community service opportunities for a younger generation and said she supports efforts that would allow more college graduates to reduce their student loan debt through volunteering. Clinton, 34, who serves as vice chair of the Clinton Foundation, spoke to about 5,000 people gathered for the “Service Unites” conference sponsored by the Points of Light Foundation, and also participated in a panel discussion on inspiring young people to become more involved. “It is in all of our interests to ensure...
  • Help coming for student-loan borrowers, White House says

    06/16/2014 8:59:43 AM PDT · by SeekAndFind · 55 replies
    San Jose Mercury News ^ | 06/16/2014 | Katy Murphy
    The prospect of a lower monthly bill on his $70,000 student loans is music to Nathan Marken's expensively trained ears. A property manager by day and opera singer by night, the San Francisco resident has managed to pay the $500 bill awaiting him each month, at the expense of retirement savings and other investments. But a plan announced this week by President Barack Obama that would cap monthly payments as a percentage of a borrower's income could ease the burden for heavily indebted college graduates such as Marken. "Something has to be done," he said, "and I think the president...
  • Obama blasts GOP at high school graduation, tells students to vote Democrat

    06/12/2014 3:33:46 AM PDT · by 2ndDivisionVet · 41 replies
    The Washington Times ^ | June 11, 2014 | Ben Wolfgang
    <p>They’re barely old enough to vote, but graduating seniors at a Massachusetts high school were encouraged Wednesday by President Obama to boot Republicans from office and help the administration enact more of its agenda.</p> <p>Speaking at the commencement service at Worcester Technical High School in Worcester, Mass., the president slowly transitioned from delivering a pep talk to leading a political pep rally.</p>
  • Elizabeth Warren student loan bill stalls

    06/11/2014 8:52:17 PM PDT · by Republican Wildcat · 11 replies
    Politico ^ | 6/11/2014 | Maggie Severns
    ... Warren’s bill sparked a fierce debate in the Senate, where Republicans said Democrats are cynically capitalizing on student loan debt for election-year gains. “I’ve been calling on the majority leader to press pause on his party’s non-stop campaign,” Senate Minority Leader Mitch McConnell (R-Ky.) said Wednesday morning. President Barack Obama and second lady Jill Biden had thrown their support behind the bill in recent days, and Obama on Monday rolled out new executive actions to help address student loan debt alongside the action in the Senate. Senate Democrats “want an issue to campaign on to save their own hides...
  • Dem student loan bill fails

    06/11/2014 9:34:03 AM PDT · by jazusamo · 32 replies
    The Hill ^ | June 11, 2014 | Ramsey Cox
    Greg Nash Senate Republicans blocked consideration of a bill that would allow people to refinance their student loan debt in a 56-38 vote on Wednesday. Democrats needed 60 votes to advance the refinancing measure, but Sens. Susan Collins (Maine), Bob Corker (Tenn.) and Lisa Murkowski (Alaska) were the only Republicans to vote with Democrats. “In America today, millions of Americans are caught in financial quicksand, and they are looking for a helping hand to pull them to safety,” Senate Majority Leader Harry Reid (D-Nev.) said. “Instead, the Republican leader has reaffirmed his commitment to the status quo. Why reform...
  • Obama To Shift Student Debt Burden To Taxpayers

    06/10/2014 4:18:33 PM PDT · by jazusamo · 26 replies
    Investors.com ^ | June 10, 2014 | IBD Editorial
    Entitlements: President Obama's working feverishly with Senate Democrats to build political pressure to force taxpayers to pay for mounting student debt with loan forgiveness schemes. Hold on to your wallets. This week, Obama signed an executive order capping the payments that millions of student borrowers make on their school debt at 10% of their income, no matter how much they owe. After 10 years, their debts are entirely forgiven if they work for the government or a nonprofit. The plan would cost more than $7 billion in the first year alone. And later this week, Senate Majority Leader Harry Reid...
  • Tweaking the GOP, Obama signs memo to expand student debt relief; endorses Democratic bill

    06/10/2014 8:12:52 AM PDT · by SoFloFreeper · 7 replies
    US NEWS AND WORLD REPORT ^ | 6/9/14 | JOSH LEDERMAN
    Up to 5 million Americans struggling to make their monthly student loan payments could find relief under a program President Barack Obama expanded Monday, part of an election-year push by Democrats to paint Republicans as blocking common-sense steps that could help the middle class.....
  • Obama Calls Out ‘Millionaires’ to Pay for Student Loans

    06/10/2014 6:08:08 AM PDT · by LucianOfSamasota · 54 replies
    The Heritage Foundation The Daily Signal ^ | June 09, 2014 | Kelsey Harkness
    Using his pen again in “this year of action,” President Obama today signed an executive order to ease the burden of student debt at the expense of “millionaires.” The program, “Pay as You Earn,” expands an existing federal loan option available to undergrad and graduate students. It issues caps on monthly loan payments at 10 percent of the borrower’s discretionary income and forgives their remaining balance after 20 years. For those working in public service or the government, any remaining debt is forgiven after 10 years. An estimated 5 million more borrowers will become eligible under the new plan. Before...
  • The Latest Student-Loan Charade

    06/09/2014 5:02:26 PM PDT · by Oldeconomybuyer · 13 replies
    Wall Street Journal ^ | June 9, 2014
    You can tell an election is coming, because President Obama is promising more student-loan relief to young people who are growing less enthralled with his economic record. The latest exercise unveiled Monday is also supposed to make these young people forget the loan burden that earlier free lunches supposedly provided. The taxpayer losses will come on some other President's watch. The President also tried to help Democrats struggling to hold the Senate by endorsing still another expansion of student-loan subsidies. Majority Leader Harry Reid plans to hold a vote this week on Sen. Elizabeth Warren's bill to allow borrowers to...
  • King Obama Vows to Go Around Congress on Student Loans

    06/07/2014 12:16:26 PM PDT · by bestintxas · 51 replies
    breitbart ^ | 6/7/14
    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 highlighted the efforts he's taken to ensure we uphold America's commitment to provide a quality education for all who are willing to work for it.
  • Congratulations, class of 2014: You’re totally screwed

    05/19/2014 12:06:25 PM PDT · by QT3.14 · 38 replies
    Slate ^ | May 18, 2014 | Thomas Frank
    Welcome to the wide world, Class of 2014. You have by now noticed the tremendous consignment of debt that the authorities at your college have spent the last four years loading on your shoulders. It may interest you to know that the average student-loan borrower among you is now $33,000 in debt, the largest of any graduating class ever. According to a new study by the Pew Research Center, carrying that kind of debt will have certain predictable effects. It will impede your ability to accumulate wealth, for example. You will also borrow more for other things than people without...
  • Sallie Mae pays $100 million fine for overcharging military (Student loans)

    05/13/2014 4:30:36 PM PDT · by Libloather · 6 replies
    WTVR ^ | 5/13/14 | DeeVa Payne
    WASHINGTON (CNNMoney) — Some 60,000 active-duty service members could their get money back from lender Sallie Mae Bank for overpaying on their student loans, the Department of Justice said Tuesday. Sallie Mae agreed to pay nearly $100 million in fines to federal regulators for overcharging military members as far back as 2005 on government student loans. Federal law discounts interest rates on all student loans for active duty military service members, capping them at 6%. Sallie Mae not only failed to discount the rates, but also made it tough for some service members to prove they qualified for the lower...
  • Our Generous Uncle Sam: Lenient College Debt Rules Encourage Students To Keep Borrowing

    05/09/2014 10:03:47 AM PDT · by reaganaut1 · 6 replies
    Forbes ^ | May 8, 2014 | George Leef
    People keep talking about the high burden of college debt, which now surpasses credit card debt. And the federal government is doing something to help. Unfortunately, what it is doing makes the problem worse. Student loan debt has risen more than any other category, according to a February report by the Federal Reserve Bank of New York. That’s surprising because college enrollments (and also enrollments in many graduate and professional schools) have been declining. So why is that student debt mountain still growing? Instead of paying their debts down, many graduates are either keeping their loan balances steady or even...
  • College Gets Even More Costly: Federal Student Loan Rates Set To Rise [Obamanomics Fail]

    05/08/2014 4:52:29 AM PDT · by SoFloFreeper · 10 replies
    Forbes ^ | 5/7/14 | Maggie McGrath
    Bad news for students who need to borrow federal student loans: your interest rates for the 2014-2015 school year will be higher than they were during the 2013-2014 academic calendar.
  • Elizabeth Warren: Hey, let’s help students refinance their loans by raising taxes on the wealthy!

    05/07/2014 7:40:46 PM PDT · by SeekAndFind · 38 replies
    Hotair ^ | 05/07/2014 | Erika Johnsen
    The Democrats’ push to hike the national minimum wage is merely the crown jewel in the so-called “fair shot” agenda that they hope will erase ObamaCare from voters’ minds by the time they hit the ballot box this November; the next action item on their intellectually (not to mention fiscally) bankrupt list is a similarly redistributive and equally lame pander to the young people who have lately been electorally shuffling away from them. Sen. Elizabeth Warren, it’s your cue: Warren, a Massachusetts Democrat, is poised to introduce a bill which, in part, would allow people holding student loans financed at...
  • 94% Of March Consumer Credit Was For Student And Car Loans

    05/07/2014 12:45:27 PM PDT · by SeekAndFind · 34 replies
    Zero Hedge ^ | 05/07/2014 | Tyler Durden
    Another month, another confirmation that when it comes to the US consumer, it is all about student debt (and to a lesser extent, car loans). Moments ago the Fed reported that consumer credit number for March: at $17.5 billion, it not only blew out the expectation of a $15.5 billion increase (although when one adds last month's $3.5 billion downward revision to $13.0 billion the two month total actually missed), but was the highest monthly increase since February 2013. That's the good news.  The bad news was once again in the composition: of this $17.5 billion $16.4 billion was...
  • College Isn't For Everyone

    04/06/2014 5:26:49 AM PDT · by Kaslin · 85 replies
    Townhall.com ^ | April 6, 2014 | Kevin Glass
    In his first address to Congress after being sworn in as President of the United States, President Obama laid out an aggressive progressive agenda for increasing the number of Americans with college degrees over the next ten years. "We will provide the support necessary for you to complete college and meet a new goal," he promised Americans, "by 2020, America will once again have the highest proportion of college graduates in the world." President Obama's goal here completely misdiagnoses what ails our higher education system. A culture that encourages and a government that and subsidizes higher education has driven up...
  • The College Education Scam

    04/01/2014 8:32:34 PM PDT · by rightwingerpatriot · 21 replies
    Rightwingpatriot.com ^ | April 1, 2014 | Rightwingerpatriot
    For the last few decades, students have been fed a whopping lie. This falsehood is that you'll need a college education to succeed in the marketplace and have a successful job or career. To that end, enrollment has skyrocketed, and along with that surge has been the increase of price of going to college. To pay for college, students take out student loans and go massively into debt. The sad fact is that after graduation, they find themselves with a normally worthless degree and tens of thousands in the hole. They've fallen prey to the college education scam. From 1985...
  • HHS (Dept. of Ed.)Swat Team Raids Home Over Student Loans

    03/16/2014 8:58:56 AM PDT · by wildbill · 52 replies
    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... Mr Wright was later told by Stockton police that the order to send in the SWAT team came from The U.S. Department of Education who were looking for his estranged wife to collect defaulted loan payments. 
  • Students and parents rejecting costly college loan burden

    03/08/2014 5:14:01 PM PST · by usalady · 10 replies
    Examiner ^ | March 8, 2014 | Martha
    Students and parents rejecting costly college loan burdens Higher education accompanied by student debt is losing its appeal for many college-age Americans and their parents. The result could be a move by many colleges and universities to find ways to cut costs and even offer tuition discounts.
  • Student Loans Entice Borrowers More for Cash Than a Degree

    03/03/2014 10:14:42 AM PST · by reaganaut1 · 33 replies
    Wall Street Journal ^ | March 2, 2014 | JOSH MITCHELL
    Some Americans caught in the weak job market are lining up for federal student aid, not for education that boosts their employment prospects but for the chance to take out low-cost loans, sometimes with little intention of getting a degree. ... A number of factors are behind the growth in student debt. The soft jobs recovery and the emphasis on education have driven people to attain more schooling. But borrowing thousands in low-rate student loans—which cover tuition, textbooks and a vague category known as living expenses, a figure determined by each individual school—also can be easier than getting a bank...
  • Student Loans Are Ruining Your Life. Now They’re Ruining the Economy: Over One Trillion in Debt

    03/01/2014 6:51:40 PM PST · by SeekAndFind · 44 replies
    TIME ^ | 02/27/2014 | By Sam Frizell
    Chris Rong did everything right. A 23-year-old dentistry student in New York, Chris excelled at one of the country’s top high schools, breezed through college, and is now studying dentistry at one of the best dental schools in the nation. But it may be a long time before he sees any rewards. He’s moved back home with his parents in Bayside, Queens—an hour-and-a-half commute each way to class at the New York University’s College of Dentistry—and by the time he graduates in 2016, he’ll face $400,000 in student loans. “If the money weren’t a problem I would live on my...
  • The Student Debt Debacle

    02/19/2014 11:44:00 AM PST · by rightwingerpatriot · 17 replies
    Rightwingpatriot.com ^ | February 19, 2014 | Rightwingerpatriot
    Student debt is spiraling out of control and has been for some time. Many people borrow money in order to go to college, but the actual numbers are rather astounding when you look at them. Personally, I think that this is a ticking time bomb that will have a major impact upon the economy in the future. Earlier this week, I came across a news story talking about how first time homebuyers were being turned away due to their student loan amounts. It seems that they're learning that borrowing heavily actually has an impact upon your credit. (Surprise and welcome...
  • [O]bama administration cooked the books, used student loan profits to make Obamacare look good

    01/05/2014 1:53:16 PM PST · by T Ruth · 7 replies
    Daily Caller ^ | Jan. 5, 2014 | Ginni Thomas / Grae Stafford
    Cato education scholar Neal McCluskey revealed how a little-reported feature of the Affordable Care Act uses shady accounting to hide its overall cost. “The change in student loans was part of Obamacare — and why was it part of Obamacare?” McCluskey said in an exclusive interview with The Daily Caller. “So that the profit they were supposedly making from the student loans could then be plugged into how much money would come from Obamacare, so it didn’t look like it cost as much.” In the last days of Obamacare’s formulation, the projections had student loans folded into them to make...
  • Fighting Against the Fight against Rising Tuition Costs

    12/19/2013 9:08:16 AM PST · by Kaslin · 15 replies
    Townhall.com ^ | December 19, 2013 | Derek Hunter
    Remember when the federal government took over student loans? That power grab was part of the Democrats’ push to make college ‘affordable.’ It didn’t work because it was never really designed to work, just to make people think they were ‘doing something’ to address the issue. But failure has never stopped our liberal/progressive friends from striving ‘forward.’ When it comes to soaring college costs, as President Reagan famously said, "Government is not the solution to our problem; government is the problem." Since the government isn’t going anywhere anytime soon, cost savings in higher education have to be found elsewhere....
  • Public Service Loan Forgiveness (PSLF) Student Debt forgiven starting in October 2017....

    11/30/2013 9:05:39 PM PST · by goodnesswins · 13 replies
    Office of the US Dept of Education ^ | unknown | Office of the US Dept of Education
    nyone heard about this....student has to pay back for 10 years, and then loan can be forgiven....??? 501c3's and government work qualify...
  • U.S. to Contact Borrowers With New Options for Repaying Student Loans

    09/25/2013 5:23:46 AM PDT · by reaganaut1 · 10 replies
    New York Times ^ | September 24, 2013 | TAMAR LEWIN
    When President Obama last month announced proposals to make college more affordable, many critics focused on his plan to rate colleges based on measures like tuition, graduation rates, and the debt and earnings of graduates, and eventually to link financial aid to those ratings. Largely overlooked was a more immediate change that could make a dent in the rising number of student-loan borrowers going into default. Starting next month, the Department of Education will contact borrowers who are struggling to repay their federal loans to make sure they know all the options available to them. “We think there are lots...
  • Relief From Student Loan Debt for Public Service Workers

    09/11/2013 12:38:49 PM PDT · by reaganaut1 · 43 replies
    New York Times ^ | September 10, 2013 | ANN CARRNS
    Raha Wala, a 30-year-old lawyer for an international human rights organization, is facing $200,000 in student loan debt. But if all goes according to plan, most of that burden will be forgiven after 2020 under a federal program aimed at helping those who enter public service jobs. “It’s enabling me to do the work that I love,” said Mr. Wala, who graduated in 2010. “It wouldn’t be possible, otherwise.” The federal government is trying to encourage more participation in the Public Service Loan Forgiveness program, which was created in 2007. The program and other debt assistance options have been underused...
  • Why Does College Cost So Much?

    09/07/2013 6:00:22 AM PDT · by Kaslin · 71 replies
    Townhall.com ^ | September 7, 2013 | John C. Goodman
    We spend about twice as much as other developed countries as a fraction of national output. Yet our results are mediocre. Public and private spending is growing much faster than our income ? putting us on a course that is clearly unsustainable. It appears we are buying quantity instead of value. Outcomes vary wildly from state to state. And programs that target the poor seem to be backfiring instead. I could easily be talking about health care. Instead, I'm speaking about higher education ? making some of the same points that President Obama made the other day. Unfortunately, both fields...
  • Government Urging 25% of U.S. Workforce to Strive for Student Loan Forgiveness

    08/29/2013 9:55:26 AM PDT · by Olog-hai · 27 replies
    Cybercast News Service ^ | August 29, 2013 - 10:16 AM | Susan Jones
    There’s no student loan forgiveness program for mothers who raise their own children, but there is for some daycare workers; and student loan forgiveness may be yours if you work for the government in some capacity, but not if you earn a low salary in the private sector. The federal Consumer Financial Protection Bureau (CFPB) is trying to make it easier for people in certain jobs—teachers, nurses, social workers, police and firefighters, and federal, state and local government workers—to understand the route to student loan forgiveness. On Wednesday, the CFPB released a “toolkit” to “empower” school districts and other public...
  • No Debt Help for Students' Parents in Loan Crisis

    08/23/2013 7:52:30 AM PDT · by William Tell 2 · 15 replies
    MainStreet.com ^ | 8-23-13 | Michael P. Tremoglie
    NEW YORK (MainStreet)—The government is providing assistance for student debtors in creating default avoidance plans for them. But what about the parents who borrowed money through the PLUS program? What options have they? Not many it seems.
  • The Rolling Student Loan Bailout: A consumer guide to all the ways you can avoid repaying Uncle Sam.

    08/10/2013 9:30:26 AM PDT · by reaganaut1 · 32 replies
    Wall Street Journal ^ | August 10, 2013
    The Consumer Financial Protection Bureau performed a genuine public service this week by alerting taxpayers to the tidal wave of student loan defaults coming their way. Too bad the intention was also to alert student borrowers to ways they can avoid repaying those loans. A new analysis by the bureau shows federal-backed student loan debt surpassing $1 trillion, which is nearly double what it was at the start of the Obama Presidency. As college costs have continued to balloon in tandem with federal loan and grant subsidies, students have assumed more debt. Many jobless Americans have also sought asylum from...
  • What Happened to the $1 Trillion of Student Debt?

    08/08/2013 11:29:20 AM PDT · by William Tell 2 · 11 replies
    MainStreet.com ^ | 8-8-13 | Michael P. Tremoglie
    NEW YORK (MainStreet)— The Consumer Financial Protection Bureau (CFPB) Student Loan Ombudsman Rohit Chopra recently responded to those who asked the CFPB about the status of the $1 trillion that has already been borrowed to pay for college tuition. An August 5 article by Chopra paints a bleak portrait. Chopra found ...
  • SWAT-like Raid Over Student Loans

    08/05/2013 6:48:50 AM PDT · by swampthang77 · 13 replies
    USBC News ^ | 13, 08,05 | USBC News Wire
    Abuse of law enforcement officers and even officers not intended forlaw enforcement by the current administration is reachingunprecedented levels. Despite campaign promises of greatertransparency, clear violations of accepted practices and even lawbreaking are stonewalled or spun away by the current Democratic administration. While the legal and constitutional controversies seem to be popping up with an ever increasing frequency, scandals are nothing new to this administration.
  • Privatize Student Loans: Better to address the underlying causes of tuition inflation

    07/24/2013 7:36:16 AM PDT · by SeekAndFind · 24 replies
    National Review ^ | 07/24/2013 | The Editors
    A bipartisan group of senators has signed off on a compromise bill that will keep the interest rates on student loans from going up significantly this fall. The bill would tie the interest rates on college loans to those on U.S. Treasury bonds, an improvement to the extent that it links the cost of borrowing to something other than political expediency, but undesirable in that it keeps Congress actively engaged in the college-loan racket. And a racket it is. The cost of college at both the undergraduate and the graduate levels has climbed far faster than the rate of inflation...
  • Loans Organized Crime Might Envy, Part 2

    07/23/2013 11:06:56 AM PDT · by William Tell 2 · 3 replies
    MainStreet.com ^ | 7-23-13 | Michael P. Tremoglie
    NEW YORK (MainStreet) — As we said in Part 1, the terms for lending money to college students for their tuition are such that they would make loan sharks green with envy. One aspect of these loansthat make them very attractive to private lenders is the near impossibility of them being discharged in bankruptcy. "They are almost guaranteed to be collected, so it is easy to sell the notes," said Barmak Nassirian, formerly an official with the American Association of Collegiate Registrars and Admissions Officers. [Read: Avoid Popular Stocks like the Devil] More bluntly, Clare Law, a certified educational planner,...
  • Loans Organized Crime Might Envy

    07/18/2013 7:10:13 AM PDT · by William Tell 2 · 3 replies
    MainStreet.com ^ | 7-17-13 | Michael P. Tremoglie
    NEW YORK (MainStreet)—It is an arrangement that organized crime might envy - the lending of money with less concern about the ability to repay than is normally required for other loans, yet an almost absolute certainty that the debt will be repaid. Sounds too good to be true? Maybe, but it...
  • Senators Reach Deal on Student Loans

    07/17/2013 6:04:33 PM PDT · by Perdogg · 22 replies
    AP ^ | 07.17.13 | By PHILIP ELLIOTT Associated Press
    Heading off a costly increase for returning college students, a bipartisan group of senators reached a deal Wednesday that would offer students better rates on their loans this fall but perhaps assign higher rates in coming years. The deal would offer students lower interest rates through the 2015 academic year, but then rates were expected to climb above where they were when students left campus this spring. The interest rates would be linked to the financial markets, but Democrats won a protection for students that rates would never climb higher than 8.25 percent for undergraduate students. Graduate students would not...