| Student Loan Debt Relief - School Loan Consolidation
In order to relieve some of the financial burden associated with furthering their educations, many students are opting to consolidate student loans at lower rates, and getting a longer period of time to repay the loans. The following paragraphs will answer some commonly asked questions about student loan consolidation, as well describe how loan consolidation can aid in debt relief. What Is Student Loan Consolidation? School loan consolidation is the act of combining your school loans into one loan in order to help manage your financial debt caused by college or trade school. When you consolidate student loans, you will only have one monthly payment to make, which is usually lower than your combined monthly payments of your unconsolidated student debt. This is possible because when you consolidate loans, you are generally offered a longer time period to repay the debt - sometimes up to 30 years.
SimpleTuition Continues to Sign Steady Stream of US College ...
NEWTON, Mass. (BusinessWire EON) July 9, 2007 -- SimpleTuition, Inc., a company dedicated to helping students and parents make sense of education financing choices, today announced the addition of nine leading U.S. institutions of higher education to its rapidly growing list of partners. By partnering with SimpleTuition, schools are demonstrating their commitment to choice by delivering independent, up-to-date and accurate student loan information to students. .
Settlement announced with seventh largest lender in the country
New York -- Attorney General Andrew Cuomo Friday announced an agreement with the College Loan Corporation, the seventh largest student loan provider in the country, to settle allegations that it provided perks to schools that placed it on preferred lender lists. Under this agreement, CLC will pay $500,000 to the National Education Fund established by Attorney General Cuomo. CLC has also agreed to comply with Cuomo’s Code of Conduct. CLC is a private student loan company based in San Diego, California and the seventh largest student loan company in the country. An investigation conducted by Attorney General Cuomo revealed that CLC hosted financial counseling sessions on behalf of schools for students who were taking or had taken student loans. These sessions are required under federal law to provide lender-neutral information, but CLC misused them as a marketing opportunity.
It pays to shop for student loans
After all, we made The Price Is Right the longest-running TV game show. But when it comes to shopping for student loans – a complex product with hundreds of lenders to choose from – we would rather have someone else do the legwork. Now, we've learned, that can be a problem. Colleges for years have compiled lists of recommended lenders to help families navigate a maze of options. An investigation by the New York attorney general's office, though, uncovered chummy financial relationships between some financial-aid officers and lenders promoted on schools' lists. Suddenly, doubts popped up over whether such lists were compiled with students' best interests in mind. The moral of this story: You have to do some of the work yourself if you want to make sure you're getting a good deal.
MyRichUncle(TM) Announces Their 2007 Federal Loan Products and ...
NEW YORK, July 5 /PRNewswire/ -- Today, MyRichUncle(TM) announced the details of their Federal Family Education Loan (FFEL) program, which includes Stafford, PLUS and Graduate PLUS loans, for the 2007-2008 academic school year. Among national student loan providers, MyRichUncle offers the most competitive discounts on their Federal student loan products. Students and parents who borrow their Federal loans from MyRichUncle will enjoy the benefit of interest rate discounts that begin at repayment and are not contingent upon making a particular number of on-time payments, which has long been an industry norm. Moreover, MyRichUncle has set themselves apart from other lenders in that their borrowers do not risk losing this benefit because of a late payment. This is important because it has been reported that over 90 percent of borrowers lose interest rate discounts or their ability to qualify for additional borrower benefits due to late payment.
Student loan rate, financial aid up slightly
The engrossed budget proposal the state House of Representatives released at the end of March includes $8 million for college financial aid, an increase of $3 million from the previous school year.
It still didn't meet the $13.4 million requested by Gov. Janet Napolitano and the Arizona Board of Regents.
"Our goal was to make sure that the state funded student financial aid at least to the statutory level," said Tiffany N. Troidl, government affairs director for the Arizona Students' Association.
Additionally, interest rates on existing variable-rate student loans will jump by .08 percent by the end of the summer.
Federal statutes caused the increase, said Beth Gerard, a representative from Sallie Mae, a leading college-loan agency.
SimpleTuition Adds Student Loans from KeyBank
NEWTON, Mass. & CLEVELAND--(BUSINESS WIRE)--SimpleTuition, Inc. (www.simpletuition.com), a company dedicated to helping students and parents make sense of education financing choices, today announced a partnership with KeyBank, (NYSE: KEY) one of the nation's largest bank-based financial services companies. As a result, KeyBank federal and private student loans for undergraduates, graduate students and parents are now available through SimpleTuition.com. "When it comes to something as important as financing an education, KeyBank urges parents and students to explore all of the available loan options," said Daryl Leake, national director of business development for Key Education Resources. "The loan comparison feature available through SimpleTuition.com will help borrowers compare loan products and make the best choices for their financial situation." Although many students are enjoying the summer break, come August more than 16 million1 students will be heading off to school.
5 Things You Need to know Before Securing Any Student Loans
If you are high school senior or a college student you most definitely should have your attention on your financial condition. If you don't instead of majoring in your field of choice you will be majoring in college debt. Federal student loans are offered to most students entering college. Many students would not be able to attend their chosen College or University if it were not for College Loans. For that reason so many students get into large amounts of debt and have problems with student loan repayment after graduation. 1. Student Loans are YOUR responsibility Often Students are so desperate to attend college they sign their lives away not knowing the loans will have to be paid back by YOU. 2. The Difference Between Student Loans Subsidized loans are not due until 6 months after the last day you attend school.
College Loan Aid Pending for Teachers
(Washington, D.C./Rochester, N.Y.) -- The U.S. House of Representatives recently passed the "College Cost Reduction Act," aimed at cutting college loan costs for public school teachers.A recent study shows an alarming number of new teachers are leaving the classroom because they can't afford to pay off their student loans. The pending legislation would help ease the burden by providing tuition assistance and loan forgiveness if students agree to become public school teachers and has been called the single biggest investment in college aid since the GI bill. Dr. Adam Urbanski, president of Rochester's teachers' union, said, "Most new teachers have to acquire loans substantial loans to finish education and once they begin teaching they have to sign up for another loan to get their master's degree." Urbanski said Rochester does a little better than most districts when it comes to retaining new teachers because the district pays for teachers to get their master's degrees.
|
