student loans

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One Trend Among GOP Freshmen: Debt

Not the national kind, the personal kind

(Newser) - Republican freshmen in Congress say they're serious about tackling the US debt—but when it comes to their own personal debt, many have what the Washington Post amusingly calls “a more nuanced view.” At least 30 out of 87 had debts of $50,000 or more last...

Down $200K, College Grad Wants You to Pay Her Loans
College Grad $200K in Debt Wants You to Pay Her Loans
in case you missed it
Nov 27, 2010 7:00 PM CST

College Grad $200K in Debt Wants You to Pay Her Loans

Kelli Space launches the website Two Hundred Thou to solicit donations

(Newser) - Sign No. 341 that our kids need some kind of financial education in high school: Northeastern alum Kelli Space has launched a website called Two Hundred Thou . Yes, you guessed it: Space borrowed close to that amount (when you tack on interest) to attend college, and is currently making $891...

College Tuition Skyrockets Again

Students lean more on government to afford school

(Newser) - College tuition headed north yet again this fall, forcing students and their families to lean more on the federal government to get by. Thanks to punishing state budget cuts, the average four-year public school tuition leaped 7.9% to $7,605, according to the College Board, while private nonprofit colleges...

Harvard Student Busted for Stealing Grants

He faked life story, prosecutors say

(Newser) - A former Harvard senior is facing 20 criminal charges for allegedly faking a life story to win admission to the university and then plagiarizing work to steal $45,000 in scholarship and grant money. Adam Wheeler's alleged deception was uncovered when a professor who suspected him of plagiarism went through...

9 Indicted for Snooping on Obama Records

Workers accused of checking student loan info

(Newser) - Nine employees of a contractor for the Education Department have been indicted on federal charges of illegally accessing President Obama's student loan records over a 2-year period beginning in the summer of 2007. The accused, including a supervisor at the Iowa consulting firm, face up to a year in jail...

Obama Signs Health Reform Law (Yes, Again)

Final version of legislation enacted along with student loan overhaul

(Newser) - Finalizing two major pieces of his agenda, a beaming President Obama today signed legislation sealing his health care overhaul and making the government the primary lender to students by cutting banks out of the process. Both domestic priorities came in one bill, pushed through by Democrats in the House and...

White House Slams Student Loan Lobby

Sallie Mae spends $4M to kill bill sending more money to students

(Newser) - Education Secretary Arne Duncan tore the nation’s largest student lender a new one today over its efforts to kill the student loan reform bill. “Sallie Mae executives have paid themselves hundreds of millions of dollars in the last decade while teachers, nurses, and scientists face crushing debt because...

Student Borrowing Soars 25% to Record Levels

Students' fed loans jump 25% from previous year

(Newser) - Some two-thirds of students borrow for college today, and they’re borrowing more than ever: For the 2008-2009 school year, the federal government loaned students $75.1 billion—25% more than the year before. That’s the biggest increase on record, the Wall Street Journal reports. The trend has troubling...

Oil Prices Rise; Dow Up 91
 Oil Prices Rise; Dow Up 91 
MARKETS
Jun 29, 2009 3:15 PM CDT

Oil Prices Rise; Dow Up 91

Low-volume session sees modest advances in energy, financials

(Newser) - Stocks enjoyed modest gains today as a jump in oil prices lifted energy firms, the Wall Street Journal reports. Crude futures rose $2.33, to $71.49 a barrel; Exxon shares gained 2.39%. Financials also saw advances, led by Sallie Mae, which jumped 8.2% on new government terms...

Fight Looms Over Plan to Give Loan Funds to Students

The administration wants to cut out private lenders, setting up a showdown

(Newser) - President Obama's plans to end a subsidized student-loan program—diverting billions of dollars in profits for private lenders like Sallie Mae to scholarships for needy students—is prompting howls of protest from lenders and setting up a Congressional showdown, the New York Times reports. The Congressional Budget Office estimates that...

Spitzer: How to Fix Student Loan Mess
 Spitzer: 
 How to Fix Student Loan Mess 
opinion
Mar 4, 2009 5:33 PM CST

Spitzer: How to Fix Student Loan Mess

Peg students' payments to their income

(Newser) - In his latest Slate column, Eliot Spitzer shifts to education, with a solution on how to reform the student loan system. "We need to fix how Americans pay for higher education," writes the former New York governor. Rather than crippling loans that prevent bright graduates from pursuing worthy...

Octuplets Will Likely Cost Taxpayers Millions

Broke family already racking up $10K a day

(Newser) - Nadya Suleman says she plans to raise her 14 kids without relying on welfare but the reality is that the bill to taxpayers will likely run into the millions, the Los Angeles Times reports. Suleman has no job, no income, owes $50,000 in student loans, and her octuplets have...

Mom: I'll Raise 14 Kids on Student Loans

Octuplets' mother has 'an alternative way'

(Newser) - Octuplet mom Nadya Suleman has no income “at the moment” and will "temporarily" use student loans to raise her children, she said on the Today show. “I am providing for my children,” Suleman said. “I have my own way. It’s an alternative way, but...

$150B Stimulus to Double Education Budget

$150B spending expected to permanently expand government's role in education

(Newser) - The stimulus plan before Congress today more than doubles the Department of Education's budget, reports the New York Times. An unprecedented extra $150 billion in federal aid would provide funds for nearly every aspect of education, from school construction to college grants. Opponents and backers alike agree that the injection...

Fed Cut Won't Translate Into Much for Consumers ... Yet

Its plans to buy more debt may unfreeze market in '09, but consumer rates stuck for now

(Newser) - Consumers hoping for lower interest rates on credit cards, car loans, and mortgages after the Federal Reserve dropped a key interest rate to near 0% yesterday aren’t likely to get a break soon, reports MarketWatch. But loans could be easier to get once the Fed’s other actions—buying...

Private Student Loan Providers Draw Fire

Student groups oppose use of bailout funds for unregulated lenders

(Newser) - Private student lenders deserve no part of the Treasury’s $200 billion consumer lending program, student advocacy groups say. They charge that the largely unregulated industry preys on young borrowers with risky variable-interest loans, the Washington Post reports. “A bailout for the providers of usurious private student loans will...

Dear Mom, Dad: Please Send Bailout

Parents face tough choices as debt-ridden kids struggle to find work

(Newser) - The families of many debt-laden college graduates are pondering bailouts of their own as the job market sours, the Wall Street Journal reports. With the average student loan now $22,000, parents of some struggling grads face a tough choice—to let their kids learn a lesson about credit the...

More Students Are Seeking Financial Aid

16% jump in requests for tuition help as economy slumps

(Newser) - A soaring number of students are requesting financial aid as a result of the country’s economic downturn, the San Francisco Chronicle reports. Some 8.9 million students filed for federal aid in the first half of this year—up 16.3% from last year. Many public universities are struggling...

More Lenders Dropping Student Loans

Some 900,000 students scrambling for alternate ways to pay tuition this fall

(Newser) - Continuing turmoil in credit markets has prompted more private lenders to cut back or eliminate education loans, leaving thousands of student borrowers without the cash they need for college, reports the Wall Street Journal. Last week Wachovia joined more than 2 dozen banks that have cut funds available to students,...

Credit Crunch Squeezes Student Loans

As private funds dry up, families look to feds to pay for college tuition

(Newser) - The slump in the credit markets has shrunk capital available to brokers of student loans, complicating the already-difficult task of financing a college education. The Boston Globe relates the story of one Massachusetts family, the Ferragutos, who received word this year from the state’s education finance agency informing them...

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