Feeds
Repaying a student loan could soon be a little less painful.
New York officials say the national association that writes and administers the SAT has resolved a two-state investigation into deceptive marketing of student loans.
Eight student loan companies agreed to adopt a code of conduct that bans deceptive marketing practices — such as offering prizes to students who sign up for loans — following an investigation by the state of New York, the state attorney general said Tuesday.
The supply of education loans is shrinking as credit tightens, creating an opportunity for Sallie Mae and some big banks to pick up market share as some lenders retrench. College-bound students are the ones who might get squeezed in the process.
The nation's largest student loan provider will stop offering perks to college employees as part of a settlement announced Wednesday in a widening probe of the student loan industry.
A Department of Education official who oversaw the student loan industry and owned at least $100,000 worth of stock in a student loan company has been placed on leave, a department spokeswoman said Friday.
New York state is offering colleges settlements in its investigation into student loan kickbacks if the schools promise to follow a code of conduct, according to published reports.
Student Loan Sinkhole? As with all the other aspects of our country's financial crisis, this should have also been obvious. Higher education costs like housing costs were rising higher than Americans could afford. The rise was fueled by credit, buy now and pay, and pay, and pay later.
College Saddles Students with Massive Debt & Little ValueIn these tough economic times, students are turning to online and for-profit colleges in bigger numbers than ever. Unfortunately, what they get in return is questionable.
Plan to Change Student Lending Sets Up a FightThe private student lending industry and its allies in Congress are maneuvering to thwart a plan by President Obama to end a subsidized loan program and redirect billions of dollars in bank profits to scholarships for needy students.
Economy clouds prospects for college-bound students"It's the middle-tier privates that are very, very concerned about what's happening, and about their enrollment," said Philip R. Day Jr., president of the National Association of Student Financial Aid Administrators.
Time for Iraq to Pay the Bill It is common knowledge that education is the key to upward mobility in the US economic mainstream and it is the key to maintaining the US superpower stature. Therefore, it is disquieting to think that the current banking crisis is now limiting who might get student loans.
The student-loan questionUntil recently, things were looking bad for students trying to find money for college. These days, credit is notoriously hard to come by, and the market for student loans is no exception. Many companies were thinking of getting out of the market.
Michigan pulls out of federal student loan programState government has temporarily pulled out of a federal student loan program because of the credit crunch, ending some benefits for the tens of thousands of students who use the program. Michigan officially suspended its participation in the Federal Family Education Loan Progra …
For The First Time in 40 Years, No Student Loan Backed Bonds Were Sold In The Last QuarterThe collapse of the $330 billion auction-rate securities market has brought debt sales by U.S. public student-loan agencies to a halt.
Student Aid Availability QuestionedThe federal education secretary told Congressional lawmakers Friday that despite tight credit markets, students would still be able to find a lender to help them borrow money for college.
Is College Education a Debt Trap? Yes, I am still paying for it and I finished college when I was 30" Just a quick reminder - he is in his early fifties. This is what he had to say, You know I was glad when I graduated. It felt like I had wings and I could reach new heights.
Iowa agency ends private student loansIowa Student Loan Liquidity Corp. will quit offering private student loans in April, which could jeopardize funding for approximately 26,000 college students in Iowa.
Panic is the EnemyRepeat after us: There is no federal student loan crisis. There is zero danger that federal Stafford loans will not be available in the foreseeable future. Zero danger.
Students pinched by credit marketsWhat started with hammers and nails has moved to caps and gowns. The havoc in credit markets, which started with housing last summer, has spread to college campuses across the nation this winter.
White House help sought on student loans Democratic members of the House are asking the Bush administration to shore up the shaken student loan market before the situation worsens and students are deprived of the chance to attend college.
Private student loan scandal yields reformsTo gauge what a year of scandal has done to the student loan business, look no farther than the Web site of Pennsylvania's Dickinson College. Its financial aid page now spells out, point-by-point, the arrangements between private lenders and colleges nationwide that were targete …
State student loan group fails to sell $300M in bondsThe Montana Higher Education Student Assistance Corp. was unable to sell $300 million of its "auction bonds" on Wall Street this week, as securities linked to student loans nationally became the latest victims of credit and liquidity problems.
New Hitches In Markets May Widen Credit Woes - WSJ.comA widening array of financial-market problems threatens to trigger a new phase in the global credit crunch, extending it beyond the risky mortgages that have cost banks and investors more than $100 billion in losses and helped push the U.S.
Law Seen as Step To Cut Students' Debt BurdensAs students confront rising tuition, a new federal law aims to help those who are borrowing more than ever to pay for college.
Senate Seeks Student Loan Firm's Data The Senate Finance Committee demanded yesterday that a Virginia-based student loan company provide documents explaining the way it operates and why it functions with not-for-profit status.
Sallie Mae reduces work force by 350Sallie Mae is cutting about 3 percent of its work force, or 350 jobs, as the struggling student lender deals with weakening credit markets and federal legislation that slashes subsidies to companies in its industry.
Subprime woes make a mess of student loansStudents relying on college loans will soon feel the pinch from the subprime mortgage crisis, according to a report by financial aid guide FinAid this week. Not only will subprime borrowers have more trouble securing a student loan, but all student borrowers will be subject to s …
Goldman Is Buying Stake in a Troubled Student-Loan CompanyGoldman Sachs on Friday agreed to buy a $260.5 million stake in the First Marblehead Corporation, shoring up the troubled student-loan company and sending its stock soaring.
SEC's probe cost Boehner office $110KFour staffers interviewed by SEC investigators were later issued clearance letters indicating no action would be taken against them, but the investigation is ongoing and the link to Boehner could highlight his political ties to the now-scandal-tarred student loan industry.
Audit Finds Misuse of $34 Million Student Loan SubsidyThe student loan corporation in Pennsylvania improperly exploited a subsidy program to collect $34 million from the government, said a report released yesterday by the inspector general of the federal Education Department.
Student Loan Bill Signed Into LawPresident Bush signed the sweeping new student loan bill into law, slashing federal subsidies to private loan companies and increasing grants for students. The college lending industry has fought the bill, saying that it will actually hurt students.
Log In | Register
