Obama: Link U.S. Aid to Colleges with Affordable Tuition
President Obama wants to start providing federal aid to colleges that maintain affordable tuition, “good value” in education and those that ensure more low-income students graduate.
The proposal from the administration ...
U.S. Credit Card, Other Borrowing Surges Surprising 9.9%
U.S. consumer borrowing – via credit cards and auto and student loans – made the biggest jump in November since the onset of the financial crisis, surging at a 9.9 percent seasonally-adjusted annual rate, according ...
Student Pell Grant Eligibility Takes Hit in U.S. Budget Bill
The federal Pell Grant program for low-to-moderate income college students took a hit with Friday’s House vote on a massive spending bill that includes an attempt to save $11 billion in Pell dollars over the next ...
Wells Fargo Lowers Fixed Interest Rates on Student Loans
Wells Fargo said it has reduced fixed interest rates on several of its student loan products from .25 percent to .51 percent, with loans starting at 7.24 percent for those who qualify.
The lender’s products included ...
Credit Card Debt Still Sliding, But Car and Student Loans Jump
U.S. consumer credit, both credit card balances and other types of non-revolving loans, rose 3.6 percent in September after a significant decrease of 4.7 percent the previous month, indicating that Americans took ...
Household Wealth Gap Between Older-Younger at Widest Ever
Older Americans at or approaching retirement age have significantly out-gained younger Americans in “economic well-being” as measured in net worth over the last quarter century, according to an analysis of census ...
Hard Math: Figuring Obama’s Revised Student Loan Terms
Updated 01.05.2012:
College students, both undergrads and recent grads, welcome President Obama’s revised repayment terms for student loans that take effect this month, but doing the math on how much you can save ...
College Board: Tuition, Fees Up as Much as 8% for 2011-12
As the Obama Administration moves to hasten student debt relief, the College Board reports that published tuition and fees average as much as 8.3 percent higher for 2011-12, depending on a student’s residency, ...
Student Loan Terms Eased Via Consolidation, Lower Rates
President Obama used executive order today to push forward student loan reform that would reduce monthly payments for 1.6 million borrowers next year, accelerating the previous 2014 startup timetable.
The new “Pay ...
Student Loan Defaults Climb to 7%; Higher for ‘For-Profit’ Schools
The overall student loan default rate increased to 7 percent in fiscal 2008, compared to 6.7 percent in fiscal 2007, according to the latest figures released today by the U.S. Department of Education.
The default ...
