Congressmen Caught Helping Student Loan Borrowers
What are they feeding these congressmen lately? Private Student Lenders Should Play by the Same Rules as Other Private Lenders Restricting bankruptcy protection for borrowers of private student loans doesn’t protect taxpayer investment; instead it gives special treatment to private student loan companies that other private lenders don’t enjoy. The argument goes like this--in order to safeguard taxpayer investments in higher education, federal student loans ought to be difficult to discharge in bankruptcy. But private student loans…
Need a Senator to Love? Try Senator Sherrod Brown of Ohio
United States Senator Sherrod Brown cares about making higher education available to all, and that makes me love him. Brown just announced new legislation aimed at helping student loan borrowers and saving money for the government--at the same time. Senator Brown said, “It’s a win-win for borrowers and taxpayers—by ensuring that students can access higher education and by helping already-strained borrowers reduce their personal debt load.” The Congressional Budget Office estimates the legislation would lead to…
One Problem We Can’t Blame on Student Loans
Increased student loan borrowing limits did not raise the price of higher education A new report by the General Accounting Office (GAO) demonstrates that increased student loan borrowing limits did not raise the price of higher education in academic year 2007-08. A number of factors cause colleges to raise already high prices. School officials cite the increasing costs of providing instruction (including professor’s salaries and benefits), maintaining facilities, and operating costs. Officials at public institutions report state…
Surprising Fact About IBR
IBR is unusual in that a borrower's monthly payment may be even less than the interest that is accruing each month. What happens to that interest?
3 Best Things About IBR
Boo Yah! Check out my first super fantastic video blog post! Took me a couple of million trys, but now my lips actually move at the same time you hear me speak!