Credit is retracting in nearly every sector – home mortgages are dwindling, business loans are down, car loans are non-existent. But there is one area in which credit has actually expanded: Government-backed, higher education loans. The total number of student loans made in 2008 is up 18.6% from 2007, according to an article in today’s [...]
For those of you whom graduated this past June, the grace period on your student loans is coming to an end. Starting in January, you will be responsible for paying back the principle and interest of your student loans every single month, faithfully and on time, until they are paid off in their entirety. It’s [...]
As the economy tanks and employment skyrockets, the number of former students struggling to pay off their student loans is likely to grow, too. While failure to repay any debt can have serious consequences, not making payments on your student loan is especially grave. Here’s a quick primer on what it means to default on [...]
November 13, 2008 by Mara Strom Treasury Secretary Paulson spoke yesterday morning at a press conference about the status of the $700 billion federal bailout of the banking industry. Paulson said that while the original plan was to focus on the failing mortgage industry, the Treasury Department will now be expanding the scope of Troubled [...]
July 15, 2008 by Mara Strom Some of you may be wondering whether qualifying for a federal loan is really that big of a deal. You figure money is money, and debt is debt. Plus, you’ve heard that applying for and getting accepted for a private loan is easier and faster. While it’s true that [...]
