Sallie Mae Senior Vice President Barry Goulding today testified at the Senate Banking Committee hearing, ‘Paying for College: The Role of Private Student Lending’ to demonstrate how Sallie Mae serves students and parents in the private education loan market.
Goulding emphasized Sallie Mae’s ‘1-2-3 approach’ to paying for college: 1) after tapping personal financial resources such [...]

As college graduation season comes to a close, the newly anointed degree holders finally have to face a new reality — life with hefty education debt.
There is plenty to be done before the debt starts to come due — in about six months for most — but graduates will need to act fast and think [...]

It’s a good thing you got that college education. You can put it to good use navigating the complex maze that is the student loan industry as you consider whether to consolidate your federal student loans.
For those who have never done it, it’s a question that comes up every year in anticipation of the [...]

New grant programs. Higher interest rates for student loans. A permanent tax exemption for 529 savings plans. In the college financing arena, the hottest trend in 2006 seemed to be change itself. A little tinkering here. Some sweeping overhauls there. What it all means depends on your personal circumstances. But no matter where you are [...]

When Jeremy Hynd graduated from Vanderbilt University in 2004, he applied to consolidate $44,000 in student loans. With interest rates then at record lows, consolidation offered the opportunity to lock in a 2.5% rate for the life of the loan.
But Hynd discovered that $27,000 of his loans weren’t eligible for federal loan consolidation because they [...]

Midnight Friday is your deadline if you’re one of the millions of people with a student loan.
The latest government reports show the amount of student loan debt has sky rocketed to more than $50 billion. Now, students, parents and graduates have just a few days to save money.
Getting accepted to the college of your choice [...]

Analysts say a student with a $20,500 Stafford loan can save $3,245 by consolidating before July.
Students and parents who’ve borrowed to cover college costs should consider consolidating their loans by June 30 because interest rates rise 2 percentage points July 1.
The reason: The deficit-reduction act Congress and President Bush OK’d this year changed the rules for [...]

Interest rates on student loans are set to rise again in July by almost two points, making this month an important time for borrowers to consolidate and save money.
Student loan interest rates will climb 1.84 percentage points July 1, one of the largest increases in the history of the program, according to Pat Scherschel, vice [...]

Student loan interest rates will climb 1.84 percentage points this summer — one of the largest increases in the history of the federally guaranteed student loan program. Students, graduates and parents who have student loans can avoid the rate hike if they apply to consolidate their student loans by June 30.
“Student loan consolidation is the [...]

Still paying off college loans? You should know the interest rates on federal loans are headed higher — much higher.
The U.S. Department of Education on May 30 will announce new interest rates for subsidized Stafford loans and Parent Loans for Undergraduate Students, or PLUS loans. Financial aid experts expect interest rates, pegged to increases in [...]

New federal rules on student loans go into effect July first and it could be a headache for college students and graduates.
The interest rate is going up as much as 2% and that could tack on thousands of dollars to the average loan.
Keith New, spokesman for the Pennsylvania Higher Education Assistance Agency, says it’s also [...]

A year ago, students and parents who borrowed to cover college costs rushed to lock in the lowest interest rates in four decades. Now those who haven’t consolidated their loans under the federal student-loan program are being urged to do so before July 1.
The reason: The deficit-reduction bill that President Bush signed earlier this year [...]