Student loans now safer with new state law
HARTFORD — A groundbreaking state law promises new rights, protections and opportunities for Connecticut students financing college and university educations through loans.
In response to the student loan crisis, Connecticut has become the first state to create a so-called Student Loan Bill of Rights intended to help students and families manage the burden of debt most students acquire upon graduation.
Read more of this story and more!
7-Day Subscribers have FREE access to everything on rep-am.com and our E-Edition.
CLICK HERE to register and activate your access,.
Not a subscriber?
You can purchase a single-day subscription for only $0.75 to read this and access all of our content and our E-Edition. CLICK HERE purchase a single day subscription.
Become an electronic subscriber to the Republican-American for only $8 a month. CLICK HERE.
http://www.rep-am.com/news/local/903248.txt
24 Ağustos 2015 Pazartesi
Lawmaker: Arkansans Owe Billions in Student Loans
Lawmaker: Arkansans Owe Billions in Student Loans
FAYETTEVILLE, Ark. -- As students get ready to hit the books, state representatives are starting a study of their own. It's been initiated by state representative Greg Leding of Fayetteville and looks at student debt.
He says the study will involve schools across the state and he hopes it will educate students before they draw loans.
"Alot," Austin Burkholder said when we asked how much he owed.
As school starts for thousands of college students, it's not hard finding one or two who are already in debt.
"About 50-thousand dollars," said freshman Dominic Bourgoin. He says it's "pretty devastating. It's a pretty big pile to dig up."
I've taken two loans already for this first year itself," said Burkholder. "It's mainstream but it shouldn't be like this."
According to state representative Greg Leding, Arkansas college students like Burkholder & Bourgoin owe a grand total of $9,000,000,000 in student loans. Leding says student debt is second only to mortgage debt in the country.
Leding says "there are a lot of factors here. Some of it is, student might be borrowing too much."
Representative Leding is spearheading a study with the Arkansas Higher Education sub-committee looking into Arkansas student debt.
http://www.ozarksfirst.com/news/lawmaker-arkansans-owe-billions-in-student-loans
FAYETTEVILLE, Ark. -- As students get ready to hit the books, state representatives are starting a study of their own. It's been initiated by state representative Greg Leding of Fayetteville and looks at student debt.
He says the study will involve schools across the state and he hopes it will educate students before they draw loans.
"Alot," Austin Burkholder said when we asked how much he owed.
As school starts for thousands of college students, it's not hard finding one or two who are already in debt.
"About 50-thousand dollars," said freshman Dominic Bourgoin. He says it's "pretty devastating. It's a pretty big pile to dig up."
I've taken two loans already for this first year itself," said Burkholder. "It's mainstream but it shouldn't be like this."
According to state representative Greg Leding, Arkansas college students like Burkholder & Bourgoin owe a grand total of $9,000,000,000 in student loans. Leding says student debt is second only to mortgage debt in the country.
Leding says "there are a lot of factors here. Some of it is, student might be borrowing too much."
Representative Leding is spearheading a study with the Arkansas Higher Education sub-committee looking into Arkansas student debt.
http://www.ozarksfirst.com/news/lawmaker-arkansans-owe-billions-in-student-loans
Student loan debt plaguing Netherlands as grant system disappears
Student loan debt plaguing Netherlands as grant system disappears
Graduating without debt is becoming increasingly difficult for students now that the basic study grant is being abolished. This has left parents with the question of whether they give their kids extra financial help, or let the study loan debts run up. Many parents can not afford the extra financial help.
This is according to the National Institution for Budget Information, Nibud, on Monday. The basic study grant will be abolished in September, at the start of the new academic year.
Nibud research showed that 58 percent of students plan to borrow more money now that the basic grant is no longer available. 53 percent indicated that they will work more hours and 34 percent said that they will have to dip into their savings. Slightly more than a third of the students indicated that they will continue living at home, even though they would have preferred living in student accommodations.
http://www.nltimes.nl/2015/08/24/student-loan-debt-plaguing-netherlands-as-grant-system-disappears/
Graduating without debt is becoming increasingly difficult for students now that the basic study grant is being abolished. This has left parents with the question of whether they give their kids extra financial help, or let the study loan debts run up. Many parents can not afford the extra financial help.
This is according to the National Institution for Budget Information, Nibud, on Monday. The basic study grant will be abolished in September, at the start of the new academic year.
Nibud research showed that 58 percent of students plan to borrow more money now that the basic grant is no longer available. 53 percent indicated that they will work more hours and 34 percent said that they will have to dip into their savings. Slightly more than a third of the students indicated that they will continue living at home, even though they would have preferred living in student accommodations.
http://www.nltimes.nl/2015/08/24/student-loan-debt-plaguing-netherlands-as-grant-system-disappears/
More using payment plans, but student loan defaults still grow
More using payment plans, but student loan defaults still grow
If there’s a glimmer of hope in the latest round of student loan numbers released by the federal government, it’s more like when a biblical deluge of rain turns into a steady downpour.
First the good news: There’s less money being loaned out this financial quarter than last year at the same time. And there are more borrowers taking advantage of an income-based repayment plan.
But here’s the flip side: The overall amount of money that is owed to the federal government, including interest and penalties, is up again. The amount of money defaulted on grew yet again, to $111 billion.
http://www.freep.com/story/news/local/michigan/2015/08/23/student-loan-defaults-grow/32235989/
If there’s a glimmer of hope in the latest round of student loan numbers released by the federal government, it’s more like when a biblical deluge of rain turns into a steady downpour.
First the good news: There’s less money being loaned out this financial quarter than last year at the same time. And there are more borrowers taking advantage of an income-based repayment plan.
But here’s the flip side: The overall amount of money that is owed to the federal government, including interest and penalties, is up again. The amount of money defaulted on grew yet again, to $111 billion.
http://www.freep.com/story/news/local/michigan/2015/08/23/student-loan-defaults-grow/32235989/
How to Get a Student Loan: Step-by-Step Guide
How to Get a Student Loan: Step-by-Step Guide
How Loans Work
This explanation is a bit simplified, but you should come away with a good general idea of how loans function. If you know how loans work, you'll be better able to find and apply for loans that are good fits for your needs.
By definition, a loan is a sum of money that you (the borrower) is given by a person or entity (the lender) with the expectation that you'll pay it back with extra charges tacked on (the interest). When you repay student loans, you'll usually make monthly payments on the sum you borrowed (the principle) plus interest that has built up, or accrued. The bigger the principle, the higher the interest rate, and the longer you take to pay off your loan = more money that you have to pay back in interest.
Details like length of repayment and interest rates will vary widely among loan options. Some loans come with extra perks (like the Direct Subsidized loan). There isn't anything particularly complicated about most loans, but some of the financial jargon can be confusing if you're new to it. If you're clear on the basics of how loans work, you can move on to the next step of getting a loan: calculating how much you need.
http://blog.prepscholar.com/how-to-get-a-student-loan-step-by-step-guide
How Loans Work
This explanation is a bit simplified, but you should come away with a good general idea of how loans function. If you know how loans work, you'll be better able to find and apply for loans that are good fits for your needs.
By definition, a loan is a sum of money that you (the borrower) is given by a person or entity (the lender) with the expectation that you'll pay it back with extra charges tacked on (the interest). When you repay student loans, you'll usually make monthly payments on the sum you borrowed (the principle) plus interest that has built up, or accrued. The bigger the principle, the higher the interest rate, and the longer you take to pay off your loan = more money that you have to pay back in interest.
Details like length of repayment and interest rates will vary widely among loan options. Some loans come with extra perks (like the Direct Subsidized loan). There isn't anything particularly complicated about most loans, but some of the financial jargon can be confusing if you're new to it. If you're clear on the basics of how loans work, you can move on to the next step of getting a loan: calculating how much you need.
http://blog.prepscholar.com/how-to-get-a-student-loan-step-by-step-guide
How the attempt to fix student loans got bogged down by the middlemen
The Education Department has grown into one of the biggest money lenders in the country, overseeing a $1.2 trillion portfolio of student debt rivaling the entire loan business of JPMorgan Chase with a staff roughly the size of the National Weather Service.
But instead of fulfilling a presidential mission of remaking and simplifying a confusing and corrupt system that enriched financial firms at the expense of taxpayers — and ultimately the nation’s college students — serious problems have emerged.
The government hired contractors to service and collect the loans, but state and federal authorities have accused the companies of ignoring borrowers’ requests for help, misleading them about their rights and mismanaging their payments. And while the government charges families lower interest rates than what banks typically offer, it is still making money on the program, raising questions about how it should balance its obligations to families and to taxpayers.
http://www.washingtonpost.com/business/economy/how-the-education-department-turned-into-a-massive-bank/2015/08/23/7618f2fa-1442-11e5-9ddc-e3353542100c_story.html
But instead of fulfilling a presidential mission of remaking and simplifying a confusing and corrupt system that enriched financial firms at the expense of taxpayers — and ultimately the nation’s college students — serious problems have emerged.
The government hired contractors to service and collect the loans, but state and federal authorities have accused the companies of ignoring borrowers’ requests for help, misleading them about their rights and mismanaging their payments. And while the government charges families lower interest rates than what banks typically offer, it is still making money on the program, raising questions about how it should balance its obligations to families and to taxpayers.
http://www.washingtonpost.com/business/economy/how-the-education-department-turned-into-a-massive-bank/2015/08/23/7618f2fa-1442-11e5-9ddc-e3353542100c_story.html
Student Loan Repayment
Find out your login details
If your account is locked, you can reset your password and secret answer to unlock it. A temporary password and secret answer will be sent to your registered email address.
If you've forgotten your Customer Reference Number, this will be shown on the screen after you have answered some security questions.
When you register for a student finance online account, you're asked to provide an email address. You need to use the same email address to reset your password or secret answer, or find out your Customer Reference Number.
If you don't know which email address is on your account, contact us.
http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,3867513&_dad=portal&_schema=PORTAL
Student Loans Chief Executive to leave in December for new post in the Midlands
The Student Loans Company today (20 August 2015) announced that Mick Laverty has tendered his resignation as Chief Executive Officer and member of the Board of Directors and will leave the company at the end of December to take up the post of Chief Executive with the ExtraCare Charitable Trust, based in the Midlands.
"We are grateful for Mick’s leadership over the past three years during which he has overseen a successful change programme at SLC. With a strong Executive Leadership Team in place, we are well on course to deliver SLC’s Vision of being a digital, customer-focused centre of excellence," said Christian Brodie, Chairman of SLC. "We wish Mick every success in the next phase of his career."
"The Board and Department for Business Innovation and Skills have approved our corporate and business plan 2015-16, and Mick’s departure does not change that plan. The Company is in a much better position now than it was when he took over and he leaves with the best wishes and thanks of the Board for the future,” Mr. Brodie added.
"I am immensely proud of SLC's achievements over the past three years not least our status as a digital exemplar organisation and our continuing operational improvement which has been widely acknowledged. I am confident that the SLC will go from strength to strength." said Mr. Laverty.
He went on: "I am sincerely grateful for the support I've received from the Board of Directors, BIS and our employees throughout my time as Chief Executive. SLC is well positioned and on a clear path to deliver its Mission and Vision."
SLC and the Department for Business Innovation and Skills will shortly begin a recruitment exercise for this position.
http://www.slc.co.uk/media/latest-news/student-loans-chief-executive-to-leave-in-december-for-new-post-in-the-midlands.aspx
"We are grateful for Mick’s leadership over the past three years during which he has overseen a successful change programme at SLC. With a strong Executive Leadership Team in place, we are well on course to deliver SLC’s Vision of being a digital, customer-focused centre of excellence," said Christian Brodie, Chairman of SLC. "We wish Mick every success in the next phase of his career."
"The Board and Department for Business Innovation and Skills have approved our corporate and business plan 2015-16, and Mick’s departure does not change that plan. The Company is in a much better position now than it was when he took over and he leaves with the best wishes and thanks of the Board for the future,” Mr. Brodie added.
"I am immensely proud of SLC's achievements over the past three years not least our status as a digital exemplar organisation and our continuing operational improvement which has been widely acknowledged. I am confident that the SLC will go from strength to strength." said Mr. Laverty.
He went on: "I am sincerely grateful for the support I've received from the Board of Directors, BIS and our employees throughout my time as Chief Executive. SLC is well positioned and on a clear path to deliver its Mission and Vision."
SLC and the Department for Business Innovation and Skills will shortly begin a recruitment exercise for this position.
http://www.slc.co.uk/media/latest-news/student-loans-chief-executive-to-leave-in-december-for-new-post-in-the-midlands.aspx
Kaydol:
Kayıtlar (Atom)