The Education Department said it would arrange for free credit monitoring for as many as 21,000 student loan borrowers after their personal data appeared on its Web site. Terri Shaw, the department’s chief operating officer for federal student aid, said the people involved were holders of federal direct student loans who used the department’s loan [...]
Many parents who want to help their children with college costs are not aware that funds still are available before the fall semester begins. With PLUS Loans — Parent Loans for Undergraduate Students, funds up to the full cost of college with rates as low as 6.25 percent are available throughout the year through Phoenix-based [...]
Benedict College has been required to repay more than $658,000 since 2001 for violating rules governing federal student loans, U.S. Department of Education records show.
Benedict President David Swinton dismissed the ordered repayments.
“That’s what auditors do,” he said. “They point out things that need to be fixed.
“That audit covered every year since the [direct] student loan [...]
For the nearly eighteen million students estimated to be attending colleges and universities across the country this fall, studies show that up to 90 percent will need some kind of financial aid assistance to foot the bill. MyRichUncle(TM), the student loan company focused on shifting the industry to work in the best interests of the [...]
The single-lender rule that prohibited student borrowers from consolidating their student loans with the lender of their choice was repealed June 15, 2006 when President Bush signed into law the emergency supplemental spending package, H.R. 4939. This has paved the way for student borrowers to consolidate their federal student loans with the lender of their [...]
In a long anticipated move, Congress has voted to abolish the Federal Student Loan Consolidation Single Lender Rule. Prior to this week, borrowers that had all their student loans with one lender were forced, by law, to consolidate with that lender – or with no one at all. This anti-competitive environment has cost student loan [...]
National lender Student Loan Xpress (SLX), a CIT company (NYSE: CIT – News), today welcomed the United States Senate’s passage of the Emergency Supplemental Appropriations Act of 2006 that included a provision which provides immediate relief to student loan borrowers. The final version of the Emergency Supplemental Appropriations Act of 2006 included a critical repeal [...]
An emergency spending bill, approved Thursday by the Senate, abolishes a rule that has required borrowers who have all their federal student loans with one lender to consolidate with that lender. Under the legislation, already passed by the House and expected to be signed by President Bush, borrowers will be allowed to consolidate with any [...]
Firstmark Services, a leading national servicer of private student loans, announced that it has achieved two milestones: $1 billion in total student loan assets managed and 250,000 student loan accounts serviced for its clients.
Firstmark, based in Woodbury, Minn., works with lenders to provide private loan services to their borrowers and colleges. The company offers loan [...]
The second largest interest rate hike in the history of the student loan program is only weeks away and local students will be among the millions affected, but it’s not too late to lock in lower rates.
Federal student loan interest rates will increase almost 40 percent for students and 30 percent for parents July 1, [...]