Obama v. Romney 2012 (students caught in the middle)
Welcome to the 2012 presidential election, student loan borrowers. YOU are going to have a front-row seat over the next three weeks as both parties propose alternative plans to pay for an extension of the current 3.4% interest rate on federally backed Stafford student loans before those rates double on July 1st. Since both parties desperately want your vote this November, neither is willing to let the rate increase go into effect. Before they can strike a deal however, they must first play a high stakes game of 'chicken'…
Deal reached on student loan transparency
Good news coming from the White House today as Congress has agreed on a deal that will allow incoming students for the 2013-14 school year will be the first to receive an easy-to-understand "shopping sheet" detailing the terms of their financial aid packages. The new requirements will provide students with a clear picture of not only the net cost of their education after grants and scholarships are applied, but also an estimate of the monthly payments they will have to make following graduation to repay their federal student loans. This is…
Student Loan Debt rises regardless of economic woes
As many of you know, tuition at America's colleges and universities continue to rise, in part due to declining subsidies from state governments. However, what you might not expect is for student loan debt to continue to rise regardless of what the economy is doing. That is the somewhat surprising conclusion expressed in a recent article published by the Center for American Progress - a self-proclaimed independent, nonpartisan educational institute. Conventional wisdom would dictate that economically stressed families would…
New Financial Literacy Tool
iGrad, a company formed in 2008 to address deficiencies in students' financial literacy, has created a new tool to educate borrowers on those schools that are committed to the financial literacy of their students. The tool not only identifies 24 of the most innovative financial literacy programs at colleges and universities today, but also provides useful insight into those programs that are working and those that still need revisions. Check it out and tell us what you think! Best College Financial Literacy Programs
Obama Administration Tries to Assist Borrowers in Tricky Political Environment
It is more expensive today than at any time in our nation's history to pay for an education and more and more students are racking up large debts to pay for it. While the total impact of the burgeoning student debt problem on our national economy is not yet known, one thing is clear, the Obama Adminstration is trying to ease the burden on borrowers in a difficult political climate. Check out Andrew Leonard's informative timeline of the major policy changes and attempts by the Obama Administration (and Pres. George W. Bush…
