The House on Wednesday approved far-reaching changes in student aid programs, voting to slash $19 billion in federal subsidies to student lenders over five years, while increasing grants for needy students and halving interest rates on federally backed loans with the savings.
The bill passed 273-149, in a sometimes-raucous debate, with 47 Republicans joining Democrats, who [...]
A bill before Congress would cut billions in federal subsidies for the student loan industry and increase the amount of money available for needy students – with funding coming from the pockets of lenders. The industry is under assault after reports of unethical financial relationships between universities and private lenders.
Loan industry defenders say the [...]
New York Attorney General Andrew Cuomo urged Congress to step up supervision of private education lending and said he is widening his investigation of the $85 billion-a-year industry to examine loan criteria.
Private lending is more subject to abuse because it isn’t covered by anti kickback rules in government loan programs, Cuomo told the Senate’s banking [...]
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 [...]
Learn.com®, the leader in on-demand workforce development and productivity, announced today that American Student Assistance (ASA), the nation’s original student loan guarantor, headquartered in Boston, Massachusetts, has selected the LearnCenter® talent management suite to develop, deliver, and track interactive on-demand training and development for employees of all levels throughout their organization.
“After reviewing the talent management [...]
Last week, members of the U.S. House of Representatives voted to pass a bill that would cut student loan interest rates in half.
“The motivation is to help college graduates alleviate their debt load and to make college more affordable to students by making loans and loan rates more manageable,” said Nicole Young, press secretary for [...]
Kilgore College’s board of trustees voted to re-enter the Federal Family Education Loan Program in the fall, said Chris Moore, school spokesman.
“Kilgore College had gotten out of the federal loan administration business about 15 years ago, when the default rate on our loans was just under 19 percent,” Moore said.
Most of the burden has been [...]
Ready to pass a cut in student loan interest rates, House members on Wednesday clashed over education priorities — helping college graduates pay off debts or expanding federal grants for low-income students.
Democrats were pushing the interest rate bill through without amendments, eager to check off one more accomplishment in their list of early legislative goals. [...]
A state student-loan program this year is increasing to $500,000 its direct grants to Montana college students, to help those having difficulty paying education bills.
The amount for the 2006 school year is more than twice the $200,000 in grants financed last year by the Montana Guaranteed Student Loan Program, which administers a variety of student-aid [...]
A state student-loan program this year is increasing to $500,000 its direct grants to Montana college students, to help those having difficulty paying education bills.
The amount for the 2006 school year is more than twice the $200,000 in grants financed last year by the Montana Guaranteed Student Loan Program, which administers a variety of student-aid [...]
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 cuts [...]