A new law to make private student loans eligible for discharge in a bankruptcy is being debated by the U.S. Congress. It is stands right now, no student loans — neither federal nor private — can be discharged in a bankruptcy. Unlike home loans, car loans and credit card debt, so-called “education loans” are exempt [...]
At least 50 colleges have signed a pledge that they will remain fully committed to meeting their students’ financial aid needs without necessitating student loans – regardless of the impact of the economic crisis on their endowments, reports the non-profit Project on Student Debt. Although there are thousands of colleges and universities across the United [...]
You probably already know about the major health care bill that passed the House on Sunday night. But did you know that tacked onto the end of that bill is a $60 billion student loan reform program. I’ve talked to you in the past about President Obama’s plans for overhauling student loans, and now those [...]
Hey all – We’ll have more on this later, but wanted to give you a head’s up on changes to the federal student loan program. The new legislation was attached to the health care bill, which passed on Sunday, March 21. The senate still must have its say but it appears the legislation will pass. [...]
USNews & World Report ran an interesting article last week with eight financial aid trends for American colleges in 2010. The bad news is that college will cost more in ’10 than ever before. But there is some good news, too. Here’s what USNews had to say (and what I think about it). 1. It [...]
Last week, a New York panel of judges ruled that a man with $400,000 in student loan debt didn’t deserve to be an attorney. The accrediting board determined that his heavy student loan burden disqualified him from being a lawyer. (Of course, without the right to practice, how that man is ever going to earn [...]
I have never hid my opinion from our readers that, if given a choice, federal student loans are far superior to private student loans. Federal student loans have lower interest rates, more favorable terms (such as income-based loan repayment), don’t require a co-signer, and freeze your repayments and interest while you’re in school. All these [...]
