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 plans have come one step closer to being implemented as law. The House … [Read more...] about House Passes Major Student Loan Reform
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Student Loan Program to Undergo Major Changes
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, 2010. The senate still must have its say but it appears the legislation will pass. Generally speaking the legislation will overhaul the student loan industry, … [Read more...] about Student Loan Program to Undergo Major Changes
New Bill Would Provide Debt Relief to Active-Duty Service Members
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 soldiers and members of the National Guard. According … [Read more...] about New Bill Would Provide Debt Relief to Active-Duty Service Members
In the News: House Approves Student Aid Overhaul
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 … [Read more...] about In the News: House Approves Student Aid Overhaul
In the News: Student Loans Jump 25% in 2009
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, has said that this increase was … [Read more...] about In the News: Student Loans Jump 25% in 2009