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  • +11

    Congress Passes One-Year Interest Rate Freeze

    Congress passed legislation on Friday, June 29, 2012 to prevent the interest rate on subsidized Stafford loans to undergraduate students from doubling July 1, 2012. The last-minute legislation, which passed with strong bipartisan support, keeps the interest rate at 3.4 percent for new loans in 2012-13, instead of allowing it to revert to 6.8 percent. The Student Loan Interest Rate Extension ...
    Published about 3 years ago | Rated: +11
  • +7

    Vietnam Era Veteran Needs Help Paying for Graduate School

    I will soon be 60 and have returned to school to get a Master's degree in Psychology as I could not get a job here with a BA and compete with younger people. I have used up my GI bill (Vietnam era Navy vet), received a loan for money for school, but have to live off of that as well as ...
    Published about 3 years ago | Rated: +7
  • +10

    6 Ways to Beat Student Loan Debt

    6 Ways to Beat Student Loan Debt
    After college, recent graduates have to face finding a new job, a place to live and a way to reconcile their new salary with the realities of paying for basic living expenses. On top of that, 71% of recent graduates had student loan debt, according to the Project on Student Debt. Furthermore, the average amount of student loan debt per graduate ...
    Published 11 months ago | Rated: +10
  • +7

    Financial Aid for Graduate School: Your Credit History Affect and Types of Aid

    I recently decided to go back to school for a degree in software engineering. My short terms goal after school is to apply for a job with one of the top software application companies. My long term goal is to eventually start my own business specializing in creating custom apps for businesses and/or individuals. I am in debt from previous undergraduate ...
    Published about 3 years ago | Rated: +7
  • +7

    Is a 3.75% Cash-Out Refinance on a Mortgage Better than Federal Student Loans?

    I have daughter who will be attending college in the fall of 2013 (and a son in 2017). For various reasons, our savings are not sufficient to pay for college given the current costs that I see. As home mortgage refinance rates have dropped to their lowest levels in my lifetime (around 3.75%), I had the notion of conducting a refinance ...
    Published about 3 years ago | Rated: +7
  • +6

    New Proposals for Hybrid Fixed/Variable Interest Rates on Federal Student Loans

    The President's budget for fiscal year 2014, which was released on April 10, 2013, includes a proposal for switching new federal student loans to a hybrid fixed/variable interest rate scheme starting July 1, 2013. A similar proposal was introduced the day before by several Republican Senators as the Comprehensive Student Loan Protection Act (S.682). Subsidized Stafford Loan Rate May Double Currently, ...
    Published over 2 years ago | Rated: +6
  • +7

    How to Qualify for a PLUS Loan Despite an Adverse Credit History

    I'm currently an MBA student who has a VERY adverse credit history. Part of which includes a defaulted Federal Loan. I'm halfway through my first year of business school and find myself needing more money. I've found someone who does not have an adverse credit history who is willing to cosign. I'm worried that I still won't receive the loan. What ...
    Published over 2 years ago | Rated: +7
  • +21

    Shocking Student Debt Statistics

    Shocking Student Debt Statistics
    Everyone wants a slice of the American Dream and, in this modern day, going to college is essential to success. Forget the Jones’, these days Americans are finding it increasingly difficult to keep up with the very student loans they took out to help ensure future success. So, what happens when they very institution that’s supposed to safeguard your future now ...
    Published over 2 years ago | Rated: +21
  • +18

    Prepare to Pay Even More for School

    Prepare to Pay Even More for School
    Student Loan Interest Rates Set to Skyrocket for 7 Million Students & Counting If Congressional action isn't taken, the interest rates on government subsidized student loans will double to 6.8 percent on July 1st of this year. This change will affect one third of undergraduate students who are receiving Federal Direct Stafford Loans. The high interest rates aren't news to undergraduates ...
    Published about 2 years ago | Rated: +18
  • +5

    Borrowers with a Recent Bankruptcy are Ineligible for the Federal PLUS Loan

    Borrowers who have had a bankruptcy discharge in the last five years are generally not eligible for the Federal PLUS loan. They remain eligible, however, for Federal Stafford, Federal Perkins and Federal Consolidation loans. Section 428B(a)(1)(A) of the Higher Education Act of 1965 [20 USC 1078-2(a)(1)(A)] specifies that borrowers of a Parent PLUS or Grad PLUS loan may not have an ...
    Published over 3 years ago | Rated: +5
  • +20

    Consequences for Student Financial Aid If Congress Doesn't Raise the Debt Ceiling

    The game of chicken being played out in Washington, DC, may have serious consequences for student financial aid as well as the rest of the economy. Congress and the White House are fighting over raising the debt ceiling, which caps the amount the federal government can borrow to pay its bills. The current debt ceiling is set at $14.294 trillion. The ...
    Published about 4 years ago | Rated: +20
  • +6

    Consumer Bankruptcy Attorneys Call for Return of Bankruptcy Discharge for Student Loans

    The National Association of Consumer Bankruptcy Attorneys (NACBA) held a press conference on Tuesday, February 7, 2012 during which they called on Congress to allow federal and private student loans to be discharged in bankruptcy, to restore a reasonable statute of limitations on student loan collections and to improve oversight of private collection agencies. NACBA also released the results of a ...
    Published over 3 years ago | Rated: +6
  • +6

    Facing the Prospect of High Student Loan Debt at a Prestigious College

    I graduated from high school with honors in June and have been accepted to a prestigious private college, where I will be majoring in computer science and math. The college awarded me $31,000 in grants and scholarships, but I still need to come up with $20,000. I applied for a student loan with each of my parents and was declined, both ...
    Published about 4 years ago | Rated: +6
  • +5

    A Prospective Student is Ineligible for Financial Aid Because of a Student Loan Default

    I gave college a shot when I was 18 and dropped out due to major health problems. Student loans obviously did not disappear because of this and I have been struggling with them ever since. Now at age 24 I finally feel that I am healthy enough to give school a second try. I thought I had every detail worked out ...
    Published about 4 years ago | Rated: +5
  • +14

    Congress Raises Debt Ceiling, with Shifts and Cuts in Student Aid Funding

    Congress passed the Budget Control Act of 2011 on Tuesday, August 2, 2011, raising the debt ceiling at the last minute. The debt deal cuts some student loan benefits, especially for graduate and professional students, but avoids a more severe cut in government grants for undergraduate students. The Budget Control Act of 2011 passed the US House of Representatives by a ...
    Published about 4 years ago | Rated: +14
  • +3

    Social Worker with Six Figure Debt Seeks Advice Handling Student Loans

    Help! I am a 24-year-old recent college graduate who is struggling to find full-time employment. I'm currently working full-time hours on a three-month contract that is going to expire at the end of the month. I received my Master's degree in Social Work and do not expect a high starting salary based upon the current market. My student loans from undergrad ...
    Published over 3 years ago | Rated: +3
  • +6

    How to Deal with a Defaulted But Paid-Off Student Loan that Reappears

    Years ago, I went to a two-year school and obtained my Associate's degree. I defaulted on the loan. However, my taxes were taken years later (twice) to take care of the loan. In 1995, I enrolled at a different college and was awarded the Pell Grant. I didn't take out any more loans. I paid the difference with a scholarship from ...
    Published over 3 years ago | Rated: +6
  • +18

    Congressman Hansen Clarke Proposes Student Loan Relief Legislation

    Congressman Hansen Clarke Proposes Student Loan Relief Legislation
    Rep. Hansen Clarke (D-MI-13) introduced the Student Loan Forgiveness Act of 2012 (H.R. 4170) on March 8, 2012. If enacted, this legislation will provide student loan forgiveness for federal education loans, allow private student loans to be refinanced into federal direct consolidation loans and cap all federal student loan interest rates at 3.4%. This legislation would address some of the calls ...
    Published over 3 years ago | Rated: +18
  • +11

    President Obama Signs Student Aid Bill of Rights

    President Obama Signs Student Aid Bill of Rights
    The difficulties of student loan repayment have been an integral part of the dialogue surrounding paying for school in recent years. College graduates began slipping under payments long before the recession, but the tough economic times only exacerbated the struggle, making it more of a common occurrence than an anomaly. Fortunately, the economy is healthier; however, the state of student loan ...
    Published 5 months ago | Rated: +11
  • +10

    College Just Got Cheaper: Federal Loan Interest Rates Drop

    College Just Got Cheaper: Federal Loan Interest Rates Drop
    If you plan to borrow to pay for school during the 2015 – 2016 school year, there’s good news ahead. The cost to borrow just got cheaper. New Stafford loans will have an interest rate of 4.29% and will save about $117 in interest over the life of a $5,500 loan, as stated by The Washington Post. Graduate students will receive ...
    Published 3 months ago | Rated: +10
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