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27 octobre 2014

Reducing student debt requires a national commitment

By Jonathan Gibralter. Tonight, as families of high school students across the country sit down to eat dinner, talk will likely turn to college applications. For those in the midst of the process, the conversation will almost definitely touch on affordability. And for those still a year or two out from college, the conversation may turn to whether or not the entire undertaking is even worth it. More...

27 octobre 2014

Parent PLUS Loan Requirements Revisions Get Mixed Initial Reviews

DiverseBy Autumn A. Arnett. The U.S. Department of Education Wednesday announced additional changes to the Parent Plus Loan requirements, which have been the source of much controversy recently.
The new rule updates the requirements for “adverse credit history,” the application of which recently set off a firestorm when numerous parents found themselves rejected for the aid. Effective July 1, 2015, applicants who are determined to have adverse credit history and are approved on the basis of extenuating circumstances or a qualifying co-signer will be required to receive loan counseling prior to receiving the loan dispersement. More...
27 octobre 2014

News UM student's proposal on addressing student debt gains traction

By Josh Meny. University of Montana student Mitch Everts has come up with a plan to help curb student debt and now two Missoula lawmakers will carry it to the state legislature.
Everts wrote the framework for a bill called the People's Bill, which is an option to repay student loans by withholding a percent of a student's income.
"A student could choose between 3 percent to 10 percent of additional income withholding to pay down their student loans, and why students like it is because the payments become relative to their individual income," Everts said. More...

University of Montana student Mitch Everts has come up with a plan to help curb student debt and now two Missoula lawmakers will carry it to the state legislature.

Everts wrote the framework for a bill called the People's Bill, which is an option to repay student loans by withholding a percent of a student's income.

"A student could choose between 3 percent to 10 percent of additional income withholding to pay down their student loans, and why students like it is because the payments become relative to their individual income," Everts said.

27 octobre 2014

USA Funds introduces enhanced student loan default prevention service

University Business LogoBy Stefanie Botelho. USA Funds has introduced an enhanced student loan default prevention service that helps colleges and universities better target outreach to and counseling of student loan borrowers. USA Funds Borrower Connect Advantage combines powerful analytics and early intervention to help schools improve their cohort default rates by helping more of their former students successfully repay their loans.
Learn more at www.usafunds.org. More...

26 octobre 2014

Looser PLUS Loan Standards

HomeBy Michael Stratford. The Obama administration announced Wednesday that it had finalized its plan to loosen the credit requirements needed to obtain federal PLUS loans. Under the new regulations, which will take effect next year, it will be easier for students and parents with damaged credit histories to take out PLUS loans. Read more...

26 octobre 2014

Student Loans and Political Ads

HomeBy Michael Stratford. As Democrats look to keep control of the U.S. Senate and hold on to House seats, they are continuing to raise student loans as an issue in this fall's election. After several Democrats last month pushed student loan refinancing on the campaign trail, some Democratic candidates in both House and Senate races are now trying to put their Republican opponents on the defensive on higher education issues. Read more...

26 octobre 2014

Coming Soon for PLUS Loans: More Eligible Borrowers, New Data on Defaults

http://chronicle.com/img/subscribe-footer.pngBy Kelly Field. Borrowers with past credit problems will soon find it easier to qualify for federal PLUS loans under a final rule announced on Wednesday by the Education Department.
An additional 370,000 parents and graduate students are expected to qualify for PLUS loans under the rule, which will relax the program’s underwriting criteria. Read more...
26 octobre 2014

Loans cost students and governments

The financial support that students receive during their studies cannot be solely analysed in terms of the proportion of students who take out loans. The amount support also depends on the size of the loans, according to the OECD report Education at a Glance 2014. Read more...
26 octobre 2014

Loan defaulters barred from leaving

By Emilia Tan. With the cost of university education rising faster than inflation and increasing sums taken out in loans, more and more students are defaulting on their loan repayments. For some, this means being barred from leaving the country. Read more...
19 octobre 2014

Private Student Loan Flexibility

HomeBy Michael Stratford. Private student lenders are not doing enough to help struggling borrowers avoid default, according to a report released Thursday by the Consumer Financial Protection Bureau. Read more...

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