Attorney General Charles C. Foti, Jr., joined by 31 Attorneys General, urged the U.S. Senate to enact The Student Loan Sunshine Act, a new federal law to safeguard students and families nationwide from deceptive practices in the college loan industry.
The House of Representatives recently passed this legislation in a virtually unanimous vote of 414-3.
In a [...]
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 [...]
Some lending companies with access to a national database that contains confidential information on 60 million student borrowers have repeatedly searched it in ways that violate federal rules, raising alarms about data mining and abuse of privacy, government and university officials said.
The improper searching has grown so pervasive that officials said the Education Department is [...]
The State of Ohio recently announced that $50 million in volume cap has been awarded to State Treasurer Jennette Bradley’s Office for the State of Ohio’s Ohio Centric Student Loan Program. The Ohio Centric program was established in 2000 by the State of Ohio to ensure that the State committed a portion of its annual [...]
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 [...]
Student loan rates are increasing, refinancing rules are changing — and midnight Friday is the deadline for borrowers to do something about it.
Federal parent loans and Stafford loan rates will increase about 2 percent under federal policy changes that will take effect Saturday, said Greg Peterson, financial aid director at Winona State University. Refinancing those [...]
College students have until Friday, June 30, to consolidate their education loans and lock in their variable-rate borrowings at a fixed rate, U.S. Rep. Tim Ryan, said Monday.
With the financial aid office at Youngstown State University as a backdrop, Ryan, D-17, urged reporters to get the word out to college students that if they fail [...]
Beginning next month, the two largest federal college-loan programs, Stafford and PLUS, will go from variable to fixed interest rates. Still, you should shop around for student loans.
Lenders can’t go higher than the fixed interest rate: 6.8 percent for Stafford and 8.5 percent for PLUS. However, they can go lower; many will, in the name [...]