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Student Loan News

How Trump’s Tax Reform Plan Will Affect Student Loan Borrowers

On April 26, 2017, the White House unveiled a plan to provide "tax relief to both our corporations that will help grow jobs, and to middle Americans." In a briefing, Secretary of the Treasury Steven Mnuchin and Director of the National Economic Council Gary Cohn admitted that the President's plan takes away a critical

By |April 28th, 2017|

What the 2016 Democratic Party Platform Says About Student Loans

The 2016 Democratic Party's draft platform has some major wins for those struggling with student loan debt. Whether you end up supporting the Democrats or Republicans in the 2016 presidential election, it's useful to know where each side stands on the issues of concern to you.Here's what the Democrats have to say:Democrats will allow those

By |July 2nd, 2016|

Government Report Reveals Widespread Student Loan Servicing Problems

Talk to people with federal student loans and it's unlikely that you'll hear praise for companies responsible for overseeing their loans. Now a report issued by the Consumer Financial Protection Bureau confirms what many borrowers have known all along - the system is broken. The bureau found, "a wide range of sloppy, patchwork practices that can

By |September 30th, 2015|

New Student Loan Tool Reveals Earnings and Repayment Data

Choosing a college just got a little easier, thanks to a revamped government tool that provides information on what former students of each school might earn, how much debt they leave with, and what percentage can repay their federal student loans. The revamped government website, the College Scorecard, was unveiled by the Obama administration on

By |September 14th, 2015|

Income Share Agreements, and Their Role in Higher Education Inequality

Imagine you're going into college and staring at a bill for $25,000 for tuition and assorted other fees for your first year of school. You've got two ways to pay the bill. You can take out a combination of federal and private student loans, or ... you can agree to pay to a lender a

By |September 8th, 2015|

Citigroup Being Investigated Over Student Loan Servicing Practices

Just weeks after Discover was ordered by the Consumer Financial Protection Bureau to pay $18.5 million for illegal student loan servicing practices, Citibank is facing a probe into its own practices. In a filing dated August 3, 2015 with the Securities and Exchange Commission, the banking giant indicated that federal regulators have opened a probe into its

By |August 3rd, 2015|

Department of Education Updates List of Troublesome Colleges

The U.S. Department of Education has published their list of of schools facing extra scrutiny as of June 1, 2015, and it's a good idea to check if yours is on the list. A total of 483 colleges are being closely monitoring due to concerns over their ability to handle federal funds, down from 543

By |July 14th, 2015|

Student Debt Clock Shows Scary Growth In What We Owe

There's a new clock out there to obsess over - the student debt clock. It shows that we're racking up more and more debt by the second - in fact, America's student-loan debt is growing by a whopping $3,055 every second. If that doesn't make you start asking questions about where this is all headed,

By |June 10th, 2015|

Department of Education Announces Debt Relief For Corinthian Colleges Students

In the wake of the collapse of Corinthian Colleges, tens of thousands of student loan borrowers have faced what can best be described as an uphill battle in their quest for student loan debt relief. This led to the Corinthian 100 (now the Corinthian Collective), a group of former students who flat out refused to

By |June 8th, 2015|

SEC Files Fraud Charges Against For-Profit College Operator ITT

On May 12, 2015 the US Securities and Exchange Commission announced that it had filed fraud charges against ITT Educational Services Inc., its chief executive officer Kevin Modany, and its chief financial officer Daniel Fitzpatrick. According to the SEC, the national operator of for-profit colleges and the two executives fraudulently concealed from investors the poor

By |May 12th, 2015|