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July 2, 2014

Higher Student Loan Interest Rates are Here for New Borrowers

​New federal student loan interest rates are established each summer for the loans that will be borrowed during the following school year.  The interest rates are based on the 10-year Treasury rate (a benchmark figure representing investor confidence).  Once you borrow, your interest rate is fixed for the life of the loan.     Here are the interest rates for loans disbursed on or after July 1, 2014, and before June 30, 2015: For Direct Subsidized and Direct Unsubsidized Stafford Loans for undergraduates, the interest rate…

By Heather  |  Category:  Student Loan Policy  

June 18, 2014

Department of Education Extends Contract for Debt Collector Previously Under Fire

Despite heavy opposition from student, union, and trade groups, the Wall Street Journal is reporting that the U.S. Education Department will extend the contract of Navient Corporation, a student-loan servicer and collection agency that was formerly a division of Sallie Mae, despite allegations it has overcharged borrowers. Navient’s work for the federal government was worth $106-million last year, and its contract would have expired this month. Sallie Mae, which in April was divided into two companies, Navient and Sallie Mae Bank, agreed…

June 13, 2014

Heather Talks With Maria Shriver About Student Loans

Heather sat down recently with Maria Shriver to talk student loans.  Read the article here.

June 11, 2014

Senate Republicans Vote Against Senator Warren and Students Again!

Update: As expected, Senate Republicans united to block Senator Warren's bill, the Bank on Students Emergency Loan Refinancing Act, in a 56-38 vote Wednesday that fell short of the 60 votes needed to proceed to debate on the measure.  The bill would have allowed people with student loans to refinance their student debt at today's lower rates. The Obama administration said it could have helped nearly 25 million borrowers save approximately $2,000 each. To learn more about the proposed bill, read on.  Elizabeth Warren is my hero…

June 10, 2014

Details About Obama’s New Student Loan Initiatives to Develop Over Time

Yesterday, President Obama set out three actions he is taking to help people pay off student debt.  We all have lots of questions about exactly who will get help and how and when.  PAYE expansion requires changes to regulations and the president has given the Department of Education one year to complete the regulations and ordered that they take effect on December 31, 2015.  I'll be advocating for the best interests of student loan borrowers throughout the regulatory process and I'll post details as they develop.  President…

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