Take into consideration the debate between home loan interest rates vs. mortgage interest rates before you even think about making a down payment on your future home.

Continuing the debate between home loan interest rates vs. mortgage interest rates, mortgage brokers do not have a specific employer. These brokers work freelance to try to find you the best loan or mortgage possible from a wide array of lenders.

Interest-Only Loan Calculator on LoanPage.com: Cool Tool for ...

Interest-only home loans are popular, and LoanPage.com reminds borrowers that they need to understand how the loans can be helpful or harmful. Helpful online tools on LoanPage.com calculate how much money homeowners could save each month with an interest-only home loan.

The pros and cons of interest-only loans can be confusing. "Interest-only loans were developed for high-income people who wanted to manage their cash flow," says the Washington Post.

$25B Sallie Mae buyout may collapse

RESTON, Va., July 11 A $25 billion deal to buy out Sallie Mae, the U.S. student loan firm, could collapse because of pending federal legislation, prospective buyers said.

The group, led by private-equity firm J.C. Flowers & Co., told SLM Corp., commonly known as Sallie Mae, that congressional legislation, which would cut federal subsidies to student lenders, "could result in a failure of the conditions to the closing of the merger to be satisfied," SLM said Wednesday.

Other members of the group are Bank of America Corp., J. P. Morgan Chase & Co. and private-equity firm Friedman Fleischer & Lowe LLC.

Sallie Mae said it "strongly" disagreed with the group's assertion and planned to proceed toward the merger's closing "as rapidly as possible."

The Reston, Va., lender said it would "take all steps to protect shareholders' interests."

The deal carries a breakup fee of $900 million.

Texas Falls Short with Student Loan Funding

One month before school starts, the Texas Higher Education Coordinating Board has notified college financial aid offices that the "B on Time" student loan program doesn't have enough funding this year to go around. In fact, they are $8 million short from last year. The program, aimed at middle and upper-middle class students, offers state-sponsored, interest free loans that are forgiven provided the student graduates on time with at least a B average. Last year, Texas spent $49 million on these loans, enough to cover 12,800 students. This year, however, only an estimated $41million is available, enough for only 9,900 students. All over Texas, thousands of incoming freshmen are now hearing the bad news. Also, some 650 students who received the loans last year won't be getting them renewed. The state's two biggest campuses, The University of Texas at Austin and Texas A&M University, have already sent out hundreds of notices to those that have lost out on the funding they were promised. Right now, around 700 incoming freshmen have been notified by UT and more than 100 this week by A&M. College financial aid officers are now trying to offer these students alternative loans, but unlike the interest-free "B on Time" loans, the others can charge about 6 or 8 percent with no forgiveness. Some campuses, like UT-Dallas, never made promises to students in order to avoid disappointment because they were never confident that the money would be available. About 400 students were eligible for the loans at UT-Dallas, but were never notified with letters. In a different approach at UT-Arlington, around 500 students signed a waiting list for the "B on Time" loans, acknowledging a possible fluctuation of the state-sponsored student aid. The number of students awarded loans is, after all, subject to the amount of funding. Sure enough, the amount of funding and number of students awarded has fluctuated considerably since the program started in 2003. With this record, the shortage shouldn't have been totally unexpected. Though, it is still disappointing for the thousands of hopeful students that were promised the money.

State cuts $8M from student aid program

Edwards University this fall, Haydee Escalante may find some classmates missing from the Austin campus. This month, the Texas Higher Education Coordinating Board revealed an $8 million draw back for the B-On-Time loan program, which offers students interest-free, forgivable loans if they graduate on time with a B average or better. Private colleges and universities wont receive any B-On-Time program money, prompting some to seek enrollment at cheaper, public schools. Escalante, a 2005 St. Joseph Academy graduate and summer intern at The Brownsville Herald, paid for housing with the extra money that shell have to budget out for the 2007-08 school year. At St. Eds theres only enough dorms for freshmen. So most live off campus and its usually cheaper, Escalante, a junior said. The cuts will be deep for all university students that planned to B on Time and benefit from the free loans.

Students decry `deal with the devil' loan terms

Canada's student loan program is making millions of dollars by gouging cash-strapped graduates who extend their loan terms, say credit counsellors and student activists.

In a report to be released tomorrow, Benedict's coalition will argue the additional interest payments should stay with graduates, where it would benefit the economy.