October 25, 2011 |
For almost a week, Nate Grant has sat cross-legged on a wall at the Occupy Wall Street encampment, holding a cardboard sign that bears his scrawled grievance: "Students Ought Not Be a Means of Profit. " Strangers have harangued him: "Get a job, you commie. " Tourists have photographed him. Others have stopped to engage in existential standoffs. "I have to pay interest on my car loan," a banker told Grant. "What's the difference between that and you paying off a student loan?" This sparked a debate that lasted so long that the 22-year-old protester from New Jersey missed out on getting a free sleeping bag. He spent his first night at the protest sleeping on cold concrete.
CALIFORNIA | LOCAL
January 21, 1996 |
A statewide association of financial aid administrators will hold a workshop today for parents and college-bound students wrestling with federal applications for educational loans. Officials from the California Assn. of Student Financial Aid Administrators will demonstrate how to complete the 1996-97 Free Application for Federal Student Aid, a form required by the federal government for any student interested in financial aid.
December 16, 2012 |
Dear Liz: I'm in my 50s. My kids have college loan debts that might total more than $200,000. I allowed them to take out loans because I expected to inherit $300,000 to help them pay off the debt. Now that inheritance will not happen. I have $250,000 saved for retirement. When I'm 58 1/2 years old, I would like to pull that money out and pay some or all of these debts. Or use home equity. I've recently been downsized in employment, but I am looking to increase my income so I can help with their debt.
CALIFORNIA | LOCAL
September 5, 1987
A permanent endowment for student loans has been created at the Southern California College of Optometry in Fullerton. More than $470,000 has been received to date, making it the second largest bequest ever received by the college, campus officials said. The bequest is from the estate of Dr. John Harris, a Long Beach optometrist, and his wife, Nina. The program begins with the 1987-88 academic year, providing low-interest loans that will range from $300 to $2,500.
March 22, 1992
In the article "Swamped By Debtors and Abuse" (Jan 12), it was stated that student loans and income taxes are not dischargeable in a bankruptcy. While generally true, time does turn both student loans and IRS debts into dischargeable debts. Student loans are eligible for discharge seven years after the repayment date takes effect. Taxes are dischargeable three years after the due date of the return (with extensions), or two years after they are filed, or 240 days after they are assessed, whichever is later.
June 3, 1999 |
Interest rates on more than $120 billion of federal guaranteed student loans will drop about half a percentage point July 1, saving the average borrower $60 the coming year. The lower rate, which also applies to new loans, is based on the decline at the Treasury's three-month bill auction in late May to 4.621% from 5.155% a year earlier. Loan rates are set at 2.3 percentage points above the Treasury bill benchmark and change annually.
June 9, 2002 |
Interest rates on student loans will fall to an all-time low next month, presenting indebted college graduates with an opportunity to lock in a low rate for the life of their loans. The change will save the average student borrower hundreds--possibly even thousands--of dollars, experts said. Those who are heavily indebted, such as Brooke Gurland-Garrow of Brooklyn, N.Y., who ran up $100,000 in student loans while working her way through medical school, will save considerably more.
February 19, 1993 |
President Clinton's plan to phase in direct government lending to students sent the shares of companies active in the business into a virtual free fall Thursday. Investors feared that the plan--called a "national service loan" by Clinton in his speech Wednesday night--would ravage the business of the Student Loan Marketing Assn. as well as Student Loan Corp. Sallie Mae dropped $9.375, or 17%, to $47.25 and was the most actively traded issue on the New York Stock Exchange, with more than 3.
April 18, 2007 |
New York's investigation into student-lending practices may gain broader, nationwide support after officials from 40 states joined in a conference call Tuesday to address the widening scandal. More than 100 representatives participated in a call hosted by the National Assn. of Attorneys General. The states agreed to work together as New York's probe into conflicts of interest and deceptive practices in student lending expanded to include about 100 schools and roughly 20 lenders.
December 12, 1987 |
A federal education official, defending a crackdown on student loan defaults, said Friday that some profit-making business schools recruit barely literate students out of unemployment lines. That charge at a Senate hearing by Bruce Carnes, deputy undersecretary of education, drew an angry retort from Sen. Edward M. Kennedy (D-Mass.), who accused the Reagan Administration of aiming its budget ax at "the most vulnerable young people in our society."