June 13, 2012 |
As Americans continue to borrow more to pay for college, many are confused and frustrated at the process of dealing with private student loans. The Consumer Financial Protection Bureau disclosed the depth of the problem Wednesday by publishing nearly 2,000 comments from borrowers, advocacy organizations and other agencies. The federal agency removed names and other identifying information from comments. Many were angry with lenders for not making terms and conditions clear, such as how to consolidate a series of loans.
May 9, 2012 |
Democrats have seized on a looming increase in the interest rate on certain federal student loans as their latest wedge issue, hoping to portray Republicans as caring more about the wealthy than they do about working-class and middle-income college students. Those students might want to spend a few moments studying how Senate Democrats planned to come up with the money to pay for one more year of cheaper loans. Senate Majority Leader Harry Reid (D-Nev.) tried to start debate on his student loan interest rate proposal Tuesday, knowing full well that he didn't have the 60 votes needed to stop a GOP filibuster.
April 24, 2012 |
Alternately serious and silly, President Obama weighed in on the ongoing Secret Service scandal and even "slow jammed" the news as he taped an appearance on NBC's "Late Night With Jimmy Fallon" on Tuesday. Obama, already the first sitting president to appear on "The Tonight Show," "The Late Show" and "The Daily Show," treaded even deeper into the overnight hours as part of his two-day, three-state tour of college campuses to press his case to extend lower interest rates for some student loan programs.
February 12, 2013 |
The entire student-loan process should be overhauled to make it easier and cheaper for students to pay for college, according to a report released Tuesday. Among the more than two dozen steps recommended by a private advocacy group are doubling the size of individual Pell Grants and simplifying application procedures. The report was issued by The Institute for College Access & Success, a well-respected group based in Oakland. Many of the recommendations would involve no added cost, according to the group.
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.