Senate Republicans on Tuesday blocked legislation to freeze interest rates on need-based student loans , creating an election-year fight that could double loan costs for some college students .The motion to end debate secured only 52 votes, failing to meet the 60-vote threshold needed to move the bill to a final vote.( PICTURES: Mitt Romney’s Possible VP Picks ) Republicans and Democrats agree .. more …
A Republican bill that would keep interest rates on federal student loans low isn’t sincere, the White House said on Thursday, because it wasn’t part of the House Republican budget .”They all voted in favor of the Ryan budget, the Republican budget, their governing document,” White House press secretary Jay Carney said of House Republicans. A vote to keep rates low failed in committee .. more …
Could the next bubble to burst be student loans?The burden is big: U.S. college students borrowed $117 billion in federal student loans last year, and the Consumer Financial Protection Bureau reported earlier this year that debt from student loans exceeds $1 trillion, surpassing credit card debt for the first time.Tuition and fees at both public and private universities have been steadily .. more …
A big change is coming soon for graduate students who use federal student loans to fund their education .Currently, grad students with demonstrated financial need can take out subsidized Stafford loans, which don’t accrue interest until after graduation. Through school and six months after graduation, the government pays for the interest that accrues on subsidized loans.But starting July 1, .. more …
College students and their advocates are increasingly concerned about student loans, both those administered by the federal government and those made by private lenders.On Tuesday, students rallied on Capitol Hill to protest a pending interest rate increase in subsidized loans made to low- and moderate-income undergraduates under the federal Stafford program. The rate is scheduled to increase to .. more …
The Consumer Financial Protection Bureau announced on Monday that it had opened a student loan complaint system for issues regarding student loans. The system was put in place for students to voice their issues with lenders.The bureau promises to work with a student or former student and lender to resolve the issue.A representative from the bureau writes:For several years, federal student loan .. more …
Fifteen people were indicted Friday on charges they took out federal student loans to attend college for people who never intended to go to college. The defendants were charged with mail fraud, wire fraud and financial aid fraud, according to the indictment from the U.S. District Court of South Carolina, Charleston Division. More detailed information on those indicted was not available from the .. more …
NEW YORK (CNNMoney) — Attention college students: The interest rate on federal student loans is scheduled to double this summer unless Congress acts soon.Loans taken out for the current school year carried an interest rate of 3.4%, thanks to a 2007 law that phased in rate reductions for subsidized Stafford loans to undergraduate students. But the law did not specify the rate after this year. So .. more …
You won’t be able to get approved for any loan type as some loan requirements are either met or not. But other requirements can be overcome like credit requirements and income requirements. So, knowing exactly what you need will aid you in the process of finding the right student loan for you. Federal Loans And Subsidized Private LoansThough these loans have little to no credit requirements, they .. more …
The first place any prospective student should start is with federal student loans. Federal student loans are backed by the U.S. government and are available directly through your school or through banks and student loan lenders via the Federal Family Education Loan Program (FFELP). These loans typically have lower interest rates, multiple repayment options, longer repayment periods, and much .. more …
