President Obama Hits the Road to Discuss College Costs
Attention New Yorkers and citizens of the great state of Pennsylvania: The Obama Express is coming to a college town near you later this week! Thanks to an article today by NPR's Frank James, we now know that President Obama will hit the road this Thursday and Friday to visit college campuses in Buffalo, Syracuse and Binghamton, NY as well as Scranton, Pennsylvania. According to Josh Earnest, Deputy White House Press Secretary, the president is expected to discuss his views on the pressing need to rein in college tuition and fees.…
President Obama signs student loan interest bill
President Obama signed the Bipartisan Student Loan Certainty Act amending the Higher Education Act to change the interest rates on all new subsidized, unsubsidized, GradPLUS, and Parent PLUS loans. The law lowers interest rates for the short term, but over time will subject students and parents to higher interest rates on their student loans. The interest rate for subsidized loans and unsubsidized loans to undergraduate students will be the 10-year Treasury rate plus 2.05 percentage points (currently 3.86 percent), capped at 8.25 percent. …
The Student Loan Interest Rate Lottery: Borrowing Costs Are Headed Up
Following the failure of Congress to extend the 3.4 percent interest rate for undergraduate subsidized student loans, undergraduate unsubsidized and subsidized student loans reverted to a fixed rate of 6.80 percent. GradPLUS and Parent PLUS loans remained at a fixed rate of 7.90 percent. The interest rate on consolidation loans is the weighted average rate on the underlying loans rounded upward to the nearest one-eighth, andcapped at 8.25 percent. The Senate passed the Bipartisan Student Loan Certainty Act (a "deal" supported by…
Senate Passes Student Loan Interest Bill That Will Make College Cost More
You won't see me fist-bumping with a bunch of delighted student advocates. The bill that passed last night means that over time, students and parents will be subject to higher interest rates on their student loans. I'm glad that students borrowing this year and over the next several years will benefit from a lower interest rate, but I'd be a lot happier if the lower rate would be available to more students over the long term. Read more: http://askheatherjarvis.com/blog/the-student-loan-interest-rate-lottery-borrowing-costs-are-headed-up…
Holy Student Loan Interest Rate Bills, Batman!
UPDATE: H.R. 1911 (as amended by the Senate) passed both chambers of Congress on July 31 changing interest rates, White House expected to approve the "deal" Unable to reach a bipartisan solution in Congress, subsidized federal Stafford student loan rates doubled to 6.8% on July 1. Last year, Congress extended the deadline that would have mandated federal interest rates to rise from 3.4% to 6.8%, effectively punting the issue down the road one year. Beginning in earnest with the release of President Obama's Fiscal Year 2014 Budget…
