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Pres. Trump appoints student loan industry exec to watchdog job
The Trump administration is appointing a long-time student loan industry executive to be the government’s top watchdog for the $1.5 trillion student loan market. Robert Cameron will serve as the Consumer Financial Protection Bureau’s new student loan ombudsman, a job designed to protect student loan borrowers from poor industry practices in the student loan industry. […]
5 Facts About Student Loans
Americans owed about $1.5 trillion in student loans at the end of March 2019, more than two times what they owed a decade earlier. The increase has come as historically high shares of young adults in the United States go to college and the cost of higher education increases. Here are five facts about student loans in America, based […]
How college financial aid scams impact families and low-income students
Just months after the so-called “Varsity Blues” scandal, in which it was revealed that wealthy parents paid roughly $25 million to help their children gain admission to elite colleges and universities like Yale and Stanford, a new way wealthy families are manipulating the college admission process has come to light. A report by ProPublica highlights […]
The College Financial-Aid Guardianship Loophole and the Woman Who Thought It Up
Lora Georgieva owns consulting firm in Illinois; U.S. Education Department says it will move to stop her actions The college consultant who developed a strategy to help wealthy clients access scholarships designed for the poor said she came up with the idea after seeing how much debt parents were taking on to send their children […]
Thousands of California Students Lose Financial Aid in Regulatory Fight
Tens of thousands of students in California enrolled in online classes at out-of-state colleges abruptly lost federal financial aid this week after they found themselves in the cross-fire of a regulatory fight between Education Secretary Betsy DeVos and the nation’s largest teachers’ union. The students who lost their aid are the unlikely victims of an […]
How Summer Job Earnings Affect Your Financial Aid For College
Penalizing working students may sound unfair, but annual earnings are excluded from the financial aid formula — to a point. While you may be working to help pay for college, the money you earn could affect the financial aid you receive. Roughly one-third of teenagers have summer jobs, according to the Pew Research Center. Some […]
Student Loan Debt & No Degree: A Growing Epidemic for Students
Most days, 25-year-old Chavonne can push her student loan debt to the back of her mind. Between short-term office jobs in the Washington, D.C., area, she drives for Uber. But once in awhile, a debt collector will get hold of her cellphone number — the one she keeps changing to avoid them — and it […]
Win The College Financial Aid Game – We’ll Show You How
Don’t Get Beat At The College Funding Game! This information-rich seminar will show you: Ways to send your child to an expensive private college for less than a state school. Methods for picking the right schools that will give you the best financial aid packages. The formula the U.S. Department of Education uses to calculate […]
Aspiring College Students And Their Non-Existent Knowledge About Financial Aid
Total U.S. student debt is $1.5 trillion and counting. High school students know very little about how financial aid works, according to a new analysis. An overwhelming majority of 11th and 12th graders (from 73% to 81%, depending on income group) were unaware that the government will subsidize their interest on qualifying existing loans while they are still in college, […]
3 RED FLAGS For Student Loan Scams
Wouldn’t it be great if your student loans were magically erased overnight? That’s essentially the promise made by many “student loan forgiveness” ads. The problem, of course, is that it’s a scam. While the government now offers more flexible terms for certain borrowers, it won’t wipe out your debt scot-free. So how do you identify […]