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.
December 4, 2011 |
Dear Liz: I graduated from college last summer and was lucky enough to get full-time employment. However, I have a great deal of college debt, including private and federal loans. Are there government programs that help pay back college loan debt? Do you have any suggestions? I cringe at the thought of paying double what I owe over the life of the loan because of interest and want to get this debt under control in the next few years instead of 15. Answer: Your eagerness to pay off your student loan debt is admirable and is particularly appropriate when it comes to your private student loans.