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 [...]
Student Loans Info
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 [...]
Did you know that soldiers who are serving in active duty are charged interest on their student loans? Going to graduate school will free your student loan interest accrual, but serving in Iraq? No. A group of 15 senators is introducing a new bill to change this, providing immediate student loan debt relief to active-duty [...]
The House of Representatives approved a sweeping overhaul of the federal government’s student lending practices last Thursday. The Student Aid and Fiscal Responsibility Act of 2009, now being debated by the Senate, will cease subsidies to private banks providing federal student loans. Instead, the federal government will directly make loans to student, saving some $40 [...]
The U.S. Education Department recently released numbers showing that the total amount of money borrowed by students in the 2008-2009 grew by 25%, to $75.1 billion, over the previous year. The number has been rising for many years, but this bump is the largest on record. The deputy undersecretary of the Education Department, Robert Shireman, [...]
We have been conditioned to think that student loans are inevitable. A necessary evil for today’s college student. But yesterday’s New York Times article on student loan debt has an optimistic message: One out of three students earn their BA degree with no student debt. That’s right — one-third of all undergrads will get through [...]
President Obama’s plan to federalize student loans and increase funding for the Pell Grant cleared its first legislative hurdle today when the House Education Committee approved the plan. Known as the Student Aid and Fiscal Responsibility Act of 2009, the President’s plan would expand the number of students eligible for Pell Grants. Currently 40 percent [...]
If you are already attending college or are about to start in the fall, you no doubt realize just how expensive getting a higher education really is. Even if you choose a more frugal option such as attending your local community college and living at home with mom and dad, there are all sorts of [...]
