| Making student loans easy | | Posted Saturday, January 13, 2007 1:05:40 PM by Blog57 Team | | As part of its one hundred-hour legislative agenda, the newly elected Democratic majority aims to make college education more affordable. Next week, Congress is expected to pass a bill that cuts interest rates on federal student loans in half, a move that would shave about $4,400 from the $17,500 of debt that the average student graduates with. In the future, the Dems want to increase the maximum Pell Grant to $5,100 a year. While important moves, they should only be the beginning of an expansion of access to higher education. The federal government should manage student loans itself instead of using taxpayer money to hire lending companies. In the American economy, expanding college education is one of the most important methods of ending poverty and reducing inequality. Those with a college degree earn 80 percent more than those with no more than a high school diploma.... | |
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| | | Interest rates may sink for student loans | | Posted Wednesday, November 15, 2006 1:04:42 PM by Blog57 Team | | As Democrats seize control of the House and Senate, the next Speaker of the House, Nancy Pelosi (D-California), has announced the majority's agenda for the nation, including lowering the interest rates on student loans. This is of particular interest to college students since over half of all undergraduates nationwide use federal student loans to pay for their education, according to the U.S. Department of Education's 1999-2000 National Postsecondary Student Aid Survey. If the interest rate were lowered, it would make students' monthly payments on their loans smaller, as well as reduce the amount of interest that builds up over time, said David Chambers, associate director of the Student Aid Office at MTSU. Congress has set the current interest rates at 6.8 percent, though in previous semesters they have been variable.... | |
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| | | Dems: make student loans student friendly | | Posted Tuesday, November 14, 2006 11:29:54 AM by Blog57 Team | | In the corporate world, there's a short list of obvious suspects who may face tougher times under a Democratic Congress, including Big Pharma and Big Oil. Then there are the not-so-obvious suspects - like what might be called Big Education. In fact, the stocks of companies that make their money educating America's college students have had a turbulent year. Look no further than the granddaddy of student lenders, SLM Corp. (Charts) - more commonly known as Sallie Mae -which fell some 13 percent through Nov. 7 and dropped another 5 percent on Nov. 8, as the news rolled in that the Democrats had captured the House. .... | |
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| | | Sallie Mae seeking seniors for 'fast track' | | Posted Sunday, November 12, 2006 7:26:13 AM by Blog57 Team | | MUNCIE -- Student loan provider Sallie Mae is looking for Ball State University students -- but not to collect on their loans. The company is hoping to recruit graduating seniors for its Fast Track Management Trainee Program in hopes of hiring them for positions at the new debt management center. The new hires would be put on an accelerated track to management positions. .... | |
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| | | Botswana: RPC Makes Student Loan System Global | | Posted Tuesday, November 07, 2006 3:09:46 PM by Blog57 Team | | The Ministry of Education (MoE) is currently extending their computerised Student Loan Management System (SLMS) to users and administrators at foreign missions and embassies. Representatives from South Africa, Australia, the UK and the USA have joined their colleagues from MoE in Gaborone for technical training at RPC Data Ltd headquarters at Gaborone International Commerce Park. The group, led by the Director of Student Placement and Welfare, Bosele Radipotsane, studied the use of Oracle Discoverer over a three-day course last week. Oracle Discoverer is an ad-hoc query and report writing tool that will give the participants access to essential data faster and more easily than before. The Department of Student Placement and Welfare (DSP&W) within MoE is mandated with offering scholarships to deserving Batswana students.... | |
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| | | First Marblehead CFO Leaves Company | | Posted Friday, November 03, 2006 7:24:34 AM by Blog57 Team | | First Marblehead Corp., which helps financial institutions administer student loans, said Wednesday Chief Financial Officer Donald R. Peck is leaving the company and will be replaced by John A. Hupalo. Peck will leave after the end of the year to pursue opportunities outside the company, First Marblehead said. Hupalo, 46, has worked as an investment banker and as head of the company's capital markets team responsible for programs bundling student loans into bonds. The company also said Kenneth S. Klipper, senior vice president of finance, will assume the additional roles of treasurer and chief accounting officer. Klipper, 47, has 25 years of experience as a senior financial officer in the financial services industry, the company said. Shares of the company added 12 cents to end at $67.57 on the New York Stock Exchange.... | |
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| | | Student loans can only go so far | | Posted Thursday, November 02, 2006 1:22:12 PM by Blog57 Team | | If you've got a high school senior about to put in applications for college, you won't be surprised by the latest news about college costs. In its annual look at trends in college pricing, the College Board reported that the average tuition at four-year public and private colleges is up again. Prices have risen 35 percent from five years ago, after adjusting for inflation. If you're a parent of a college-bound student, there were two other facts in the College Board report that shouldn't be overlooked -- it is taking longer for students to graduate, and more students are turning to high-priced private loans to pay for college. Among bachelor's degree recipients in 1999-2000, the College Board said in its report, those who began their studies at four-year public colleges and universities took an average of 6.2 years to earn a degree.... | |
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| | | Education Loan Borrowers: Six-Month Grace Period Set to Expire | | Posted Tuesday, October 31, 2006 11:02:51 PM by Blog57 Team | | The six-month grace period on many education loans is about to expire for last spring's college graduates, and now is the time to begin thinking about repaying student loans. A thorough understanding of rights, responsibilities and repayment options available will put individuals on the path to successful student loan repayment, financial security, and a healthy credit history. (Logo: http://www.newscom.com/cgi-bin/prnh/20030617/SLMLOGO-a ) Choosing the right repayment plan is important because it will affect the monthly payment and how much the customer will pay in total over the life of the loan. Customers can use Sallie Mae's loan repayment calculator -- www.salliemae.com/after_graduation/manage_your_loans/making_payment/estimating -- to estimate the monthly payment amount and total interest expense under different repayment plans, and to determine which plan makes the most sense for their current financial situation.... | |
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| | | College costs up, but NC schools still cost less | | Posted Thursday, October 26, 2006 11:02:11 PM by Blog57 Team | | FAYETTEVILLE -- James Jefferson knows how expensive college is, especially as an out-of-state student. He's applied for grants, scholarships and loans to attend school in North Carolina, but even those aren't enough. "During the summer time, I often work a lot to gather up funds for the upcoming school year to pay for books and other living expenses," Jefferson explained. Hes not alone. A recent College Board study showed the cost of attending school is going up faster than the rate of inflation. Overall, state school prices are up 35 percent from five years ago, even after adjusting for inflation. And, the director of Fayetteville State Universitys office of financial aid said it also means more students applying for and receiving financial aid. .... | |
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| | | Toigo Foundation, Loan Company Partner to Help Fellows | | Posted Tuesday, October 24, 2006 11:06:10 PM by Blog57 Team | | To help it meet its mission of preparing people of color for careers in finance, the Robert Toigo Foundation is partnering with the Student Funding Group LLC to offer benefits for incoming Toigo fellows.Student Funding, which is a 3-year-old, privately run educational loan originator, will offer its consulting services to prospective Toigo applicants and current participants in its MBA Fellows program. According to Student Funding, areas of counsel will include step-by-step breakdowns on how to finance an MBA using scholarships and both private and public loans."One of the key challenges MBA candidates face is navigating how to finance their education," Nancy Sims, president of the Robert Toigo Foundation, said in a release. "Working with StuFund, our goal is to provide ready access to qualified advice and services that will help prospective Toigo applicants, fellows and their families address important finance decisions, as well as gain access to sources they might not otherwise have tapped." By its own description, the 16-year-old Toigo Foundation "encourages exceptional minority students to consider finance, not only as a rewarding career, but also as an opportunity to be the future leaders in the global economy.... | |
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