January 4, 2009
Thank you for highlighting this new economic scam. ("Students learn too late the costs of private loans," Dec. 27.) I received federal loans that did not cover everything, and I was referred to the Signature Student Loan from Sallie Mae by my school in Pittsburgh. I received my master's degree in psychology, and I currently owe more than $60,000 in both federal and private loans. To make things impossible, I owe about $600 a month for the next 30 years, and I only make $30,000 a year.
December 27, 2008 |
Natalie Hickey left her small hometown in Ohio six years ago and aimed her beat-up Dodge Intrepid for the West Coast. Four years later, she realized a long-held dream and graduated with a bachelor's degree in photography from Brooks Institute in Santa Barbara. She also picked up $140,000 in student debt, some of it at interest rates as high as 18%. Her monthly payments are roughly $1,700, more than her rent and car payment combined.
August 9, 2013 |
Dear Liz: Our son went to an expensive private school and ended up with more than $100,000 in federal and private loans by the time he graduated. My wife cosigned a private loan for $25,000 for the first year, and that was the last we heard of any loans until he graduated with a degree in social services. After he was out of school for six months, we started getting phone calls asking for payment. Turns out he electronically signed my wife's name to the next three years of his student loans.
August 19, 2012 |
Dear Liz: I co-signed some private student loans for my youngest child. She graduated two years ago with about $80,000 in student debt, including federal and private loans. Like many other recent graduates, she has had a difficult time finding a job. She worked part time at a retail store until about a month ago and made around $7,000 annually. I have been helping her make reduced payments and she has gotten deferments and income-based repayment plans. But I'm planning to retire in a few months and won't be able to make the payments as I have been.
January 30, 2008 |
Corinthian Colleges Inc., the for-profit provider of post-secondary education, said Tuesday that its fiscal second-quarter profit tripled. However, the company also reduced its earnings forecast as it braced for student loan cutbacks. Net income rose to $8.11 million, or 10 cents a share, from $2.58 million, or 3 cents, a year earlier, the Santa Ana-based company said. Revenue for the quarter ended Dec. 31 increased 16% to $272.6 million. Corinthian and other education companies are preparing for a halt in lending by SLM Corp.
October 15, 2010 |
More accustomed to allocating money by the million, the federal government is stepping up efforts to make loans as small as a few hundred dollars to some of the nation's tiniest companies. The goal is to create jobs, one little loan at a time. "In this environment, every job is crucial," said Eric Zarnikow, who helps run the Small Business Administration's loan programs. For every loan, he says, 11/2 jobs are created or retained. In Southern California, these so-called microloans will help a San Fernando Valley dental laboratory hire an assistant to make crowns and bridges and will enable an Orange County woman to sell gourmet ice cream sandwiches from a used food truck.