Johns Hopkins University has agreed to pay $1.125 million to settle a probe of its student loan practices, the New York attorney general said Thursday.
The settlement is the latest in a nationwide probe of conflicts of interest in the $85 billion student loan industry. Twenty-six schools and seven lenders, including Sallie Mae , JPMorgan Chase [...]
U.S. Sen. Charles Schumer on Wednesday unveiled a plan to make college loan applications easier to understand, arguing that high school students and their parents sometimes sign deceptive loan applications.
Schumer’s proposal, modeled after the “Schumer Box†now required on credit card applications, would require lenders to detail loan amounts, range of interest rates and any [...]
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 [...]
Many college graduates are taking in a breath of fresh air this month after graduation, knowing that they no longer have to study for exams, give presentations or write papers. However, reality sinks in when grads think about paying back the student loan debt they have acquired. The median student loan debt for young adults [...]
If you plan to graduate from college this spring, your mailbox may soon be filled with congratulatory cards from family friends, checks from distant relatives and reminders from your alma mater that your diploma will be rescinded unless you pay your overdue parking tickets. But if you borrowed to pay for college, much of your [...]
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 [...]
OneSimpleLoan® http://www.OneSimpleLoan.com, a student loan finance and consulting firm specializing in student loan consolidation, today announced that President & CEO Paul J. Simino is a finalist for the Ernst & Young Entrepreneur of the Year® 2007 Award in the Florida region. According to Ernst & Young, the awards program was designed to recognize outstanding entrepreneurs [...]
You’ve got the college degree, and now you’re stressed about what do to with the debt.
“Even if your student loans exceed your annual salary — which is, unfortunately, a common phenomenon these days — you can knock down those debts and start to regain control of your financial life,†says Lynnette Khalfani in her new [...]
Starting July 1, interest rates for older Stafford and PLUS loans will rise 0.08 percentage points. For borrowers of the need-based Stafford loans who are still in school, interest rates will rise to 6.62 percent, while PLUS loan rates will rise to 8.02 percent, according to student-loan provider Sallie Mae. For those who have already [...]
CIT Group said yesterday that the president of its Student Loan Xpress unit, which has been the focus of investigations into allegations of influence peddling in the $85 billion-a-year college-loan industry, has left the company.
The executive, Fabrizio Balestri, had been placed on leave in April and is “no longer with the company,” said Curt Ritter, [...]