NPR reports Teacher Loan Forgiveness Program still not working. We encourage you to review the article and contact us to find out how this might affect you.
It’s too bad that Uncle Sam ever got into the college-financing business. The feds have no constitutional authority to lend money to students (or anyone else) and millions of students have gotten themselves deeply in debt for education of dubious value. Easy federal loans were essential in fueling the “college for everyone” movement that has raised the cost and degraded the educational value of earning a degree.
Here's a secret to help your child grasp the real impact of student loan debt: Don't just think about the huge sum you've borrowed — focus on what you'll repay each month.
About 30 percent of college students said they feel confident with the financial terms associated with student loans, according to a survey by College Ave Student Loans. The lender recently polled 1,075 undergraduates.
The nation’s capital is one of the most educated but also most indebted regions of the country, with one in five residents shouldering student loans. That debt load is an added burden for residents already struggling with the city’s high cost of living. New legislation seeks to ease the strain.
A battle brewing between states, student loan companies and Betsy DeVos’s Department of Education looks like it will come to a head in a courtroom in the coming months.
The Pennsylvania Higher Education Assistance Agency, or PHEAA, one of the large firms that manages federal student loans on behalf of the Department of Education, sued Connecticut’s department of banking, it’s banking commissioner and the federal Department of Education on Thursday over the state’s student loan laws.
Summary: All student loans are subject to borrowing limits. Annual limits specify how much you can borrow in a single school year, aggregate (cumulative) limits specify how much you can borrow through that loan program, and cost of attendance limits specify that the loan amount must be less than the school’s official cost of attendance minus other financial aid received.
As lawmakers stare down the barrel of a potential trillion-dollar deficit, they’ve already started looking for ways to stanch the bleeding. The F-35 program, a trillion-dollar boondoggle of a weapons platform that only occasionally works, isn’t really on the table. Nor are the massive tax cuts that forged the present budget shortfall. No, where legislators intend to recoup some scratch is in capping access to federal student loans for graduate students.
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"Bankruptcy laws allow companies to smoothly reorganize, but not college graduates burdened by student loans."
– Robert Reich
"There is scarcely anything that drags a person down like debt."
– P. T. Barnum
The road to success is always under construction
– Lily Tomlin
“This would be a much better world if more married couples were as deeply in love as they are in debt.”
– Earl Wilson
“What I would like to do... once I take care of all my kids' student loans, is buy a red 1965 Mustang and fully restore it.”
– Mike Quigley
"If we don't change direction soon, we'll end up where we're going."
– Irwin "Professor" Corey
"Nothing in life is to be feared. It is only to be understood."
