Student Loan Changes: What You Need to Know Now
Posted on 16 May, 2012
News from U.S. News & World Report:
President Obama helped to elevate the student loan interest rate debate to the national level.
Student loan interest rates have been elevated to the national political stage in recent weeks, thanks to President Obama’s call on Congress to prevent the rate of one federal loan from doubling this summer.
The debates [...]
Student loan blues
Posted on 14 May, 2012
News from Baltimore Sun:
Brenda Small didn’t think twice about taking out student loans to pay for nursing school in the late 1980s. She figured she could easily pay off the $ 20,000 bill — until an injury a few years later left her permanently unable to work.
Her dreams of working in her chosen profession [...]
Students lament debts as loan battle gains steam in Congress
Posted on 13 May, 2012
News from USA TODAY:
DETROIT – Sean Doerr, like thousands of college graduates this spring, is trapped between a rock and a hard place.
By Kathleen Galligan, Gannett
Sean Doerr, 22, of Detroit, a photography major at the College for Creative studies, gets ready for graduation ceremony practice on Thursday. Doerr is graduating with nearly $ 87,000 [...]
Spain to Force Banks to Raise EU30 Billion in Loan Provisions
Posted on 11 May, 2012
News from San Francisco Chronicle:
(For more on the region’s debt crisis {EXT4 <GO>})
May 11 (Bloomberg) — Spain will force the country’s banks to increase provisions against losses on real estate loans by 30 billion euros ($ 38 billion) and will hire two auditors to gauge all the assets of lenders in the government’s fourth [...]
Student loan debt hits $1T
Posted on 10 May, 2012
News from New York Daily News:
Mark Bonifacio/New York Daily News
Eric Carlsen and Cecelia Adams protest doubling of interest rates on student loans during a rally at Brooklyn College.
College kids have never had to shoulder such a heavy burden.
U.S. student loan debt has reached a startling $ 1 trillion, and the interest rates on some [...]
Student loan bill fails as Senate gears up for protracted battle
Posted on 08 May, 2012
News from CBS News:
Senate Minority Leader Mitch McConnell, left, and Senate Majority leader Harry Reid, right.
(Credit: CBS/AP)
(CBS News) Senate Republicans on Tuesday blocked a bill aimed at extending low interest rates for student loans, signaling the possibility of a protracted congressional battle over a measure lawmakers in both parties agree should ultimately be passed.
In a [...]
Senate turns to partisan fight over student loans
Posted on 07 May, 2012
News from The Associated Press:
Senate turns to partisan fight over student loans
By ALAN FRAM, Associated Press – 9 minutes ago
WASHINGTON (AP) — The Senate is the newest arena in the election-year face-off over federal student loans, and both sides are starting out by pounding away at each other.
With Congress returning from a weeklong [...]
Jay urges passage of student loan bill
Posted on 05 May, 2012
News from Chicago Tribune:
The Charleston Gazette, W.Va.
May 5, 2012
CHARLESTON, W.Va. —
Sen. Jay Rockefeller, D-W.Va., announced on Friday he will urge Congress to pass legislation preventing interest rates on federal student loans from doubling on July 1.
“College students everywhere are struggling to pay their student loan bills,” Rockefeller said.
“The last thing we want to do to [...]
Bank Loan Bundling Investigated by Biden-Schneiderman: Mortgages
Posted on 04 May, 2012
News from BusinessWeek:
New York Attorney General Eric Schneiderman and Delaware’s Beau Biden are investigating banks for failing to package mortgages into bonds as advertised to investors, three months after a group of lenders struck a nationwide $ 25 billion settlement over foreclosure practices.
The states are pursuing allegations that some home loans weren’t correctly transferred [...]
Student loans 101: Why Obama is slow-jamming on Late Night about interest rates
Posted on 02 May, 2012
News from Washington Post:
NEW YORK — Lawmakers on both sides of the aisle agree: It would be a mistake to let interest rates on student loans double in July. Especially if they’re going to be blamed for it in an election year.
Student loans have become a political football in recent weeks, with Democrats and Republicans [...]
