Obama to Congress: Stop Doubling of Student Loan Rates

Obama to Congress: Stop Doubling of Student Loan Rates

President Obama will travel to North Carolina, Colorado and Iowa next week in a campaign to convince Congress to prevent interest rates on federally-subsidized student loans from doubling in July. Subsidized Stafford ...
Agency Debuts Financial Aid Comparison Tool for Students

Agency Debuts Financial Aid Comparison Tool for Students

The Consumer Financial Protection Bureau has launched a beta version of the Financial Aid Comparison Shopper, an interactive tool for helping families plan for the costs of post-secondary education. The beta version ...
JPMorgan Chase to Restrict Student Loans to Just Customers

JPMorgan Chase to Restrict Student Loans to Just Customers

JPMorgan Chase, the nation’s largest bank, is sharply limiting its private student loan business to only existing customers starting in July. Banks and other private student lenders have been diminishing their ...
U.S. Consumer Credit Marks 6th Straight Monthly Gain

U.S. Consumer Credit Marks 6th Straight Monthly Gain

U.S. installment consumer credit grew at a slower pace in February than anticipated by economists, while credit card balances continued their 2012 decline, according to just-released Federal Reserve data. However, ...
Upromise Rewards Service to Fix Data Practices: FTC

Sallie Mae’s Upromise Site to Fix Data Practices: FTC

The Federal Trade Commission has issued its final order settling charges that Upromise.com, a membership reward service for those saving for college, used a Web-browser toolbar to collect consumer data without adequate ...
Repayment Options Can Ease Student Loan Burden

Repayment Options Can Ease Student Loan Burden

Student loan debt has made headlines of late as the potential new bubble, overshadowing even the venerable American burden of credit card balances. U.S. student loan debt from private sources and federal programs ...
Tactics of Student-Loan Debt Collectors Draw Complaints

Tactics of Student-Loan Debt Collectors Draw Complaints

The U.S. Education Department is turning to private debt-collection companies to aggressively get borrowers to pay as much as possible of the roughly $67 billion of federal student loans in default. Earning commissions ...
CFPB: U.S. Student Loan Debt Reaches $1 Trillion

CFPB: U.S. Student Loan Debt Reaches $1 Trillion

U.S. student loan debt from private sources and federal programs has hit $1 trillion, according to the Consumer Financial Protection Bureau. The new U.S. agency overseeing most loan products has made that estimate ...
(AP Photo by Manuel Balce Ceneta) Sen. Jack Reed, D-R.I., announceS the collection of more than 130,000 letters to Congress to prevent student loan interest rates from doubling this July 1, 2012 during a news conference March 13 on Capitol Hill.

Student Loan Rates Set to Double July 1, Congress Reminded

Rates on federally subsidized student loans are poised to double in July for nearly 8 million borrowers – unless Congress takes action. So a coalition of consumer advocates made sure to remind lawmakers of the ...
Private student loans

Got Gripes About Private Student Loans? Tell the CFPB

For the first time, borrowers with issues about their private student loans have a U.S. agency that will register their complaints and potentially get lenders to provide a resolution. The Consumer Financial Protection ...
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