Welcome guest, please Log In or Register

December 4, 2014

Rohit Chopra and CFPB Piss Off Private Student Lenders

Ombudsman Rohit Chopra of the Consumer Financial Protection Bureau (CFPB) can sleep soundly at night knowing he is doing something right.  The Wall Street Journal quotes Richard Hunt, president of the Consumer Bankers Association, as stating “There’s more tension between banks and those in the CFPB’s student-lending division than in all other areas of the CFPB combined.” Why is the private student loan industry so pissed off?  The CFPB and Mr. Chopra have persistently pushed private lenders to modify or refinance…

September 22, 2014

Expanding Pay As You Earn by Negotiated Rulemaking

The Department of Education has announced its intention to convene a negotiated rulemaking committee to develop regulations that expand the President's Pay as You Earn repayment plan by allowing more borrowers to cap their federal student loan payments at 10 percent of their income with the goal of making the expanded PAYE repayment option available to borrowers by December 31, 2015. Negotiated rulemaking is required by law for programs authorized under Title IV of the Higher Education Act of 1965 (unless the Secretary of the Department of Education…

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.

 < 1 2 3 4 5 >  Last ›