The Obama administration recently announced details of a new set of rules which have been designed to strengthen the federal student aid programs at for-profit, nonprofit and public institutions. These new rules will help to ensure that students are provided with accurate and realistic advice regarding the potential benefits of college and training programs, as [...]
Goal Financial, which to date has originated over $9 billion worth of government guaranteed student loans issued to over 200,000 graduate and undergraduate students, recently announced the successful purchase of over $600,000 worth of Federal Government guaranteed student loans. This is part of a new strategy by the company through which they plan to focus [...]
A recent report released by the U.S. Department of Education indicated that the cohort default rate for College Foundation, Inc. (CFI) with respect to borrowers whose loans were guaranteed by the North Carolina State Education Assistance Authority (SEAA) during the fiscal year 2008 was just 2.8%, which is one of the lowest recorded default rates [...]
The California Student Aid Commission, which is the principal state agency responsible for administering financial aid programs for students attending public and private universities, colleges, and vocational schools in California, convened recently in order to discuss and formulate a response to the United States Department of Education’s decision to terminate the Commission’s student loan guarantee [...]
The Briscoe Law Firm, PLLC, and the law firm Powers Taylor, LLP are currently conducting an investigation into potential legal claims against the Board of Directors of the Student Loan Corporation, regarding the proposed acquisition of the Student Loan Corporation by Discover Financial Services, which was announced on September 17, 2010. Also being considered is [...]
A recent report issued by the U.S. Department of Education predicted that the adjusted default rate for federally guaranteed student loans would rise to the highest levels since 1998 shortly, with banks predicting that the default rate could increase to as much as 6.9 percent. Such an increase would effectively mean that the rate will [...]
Financial experts at Money Management International (MMI) recently released a series of suggestions aimed at students, in order to assist them to manage the cost of a higher education. This list of suggestions for students was released following reports of a dramatic increase in figures for student loan defaults, which has been attributed to the [...]
A new partnership was recently announced between Classof1.com, a provider of online tutoring services, and GradeFund, a new education financing platform that allows students to finance their education through sponsorships from family, friends and corporate sponsors. This new partnership will see Classof1.com sponsor 10 students selected at random for the Fall 2010 semester, using the [...]
The US Department of Education recently announced its decision to appoint the Educational Credit Management Corporation (ECMC), a nonprofit company that provides services to students, schools and lenders in support of higher education finance, to a role where it would oversee the administration of federal student loans to borrowers under the Federal Family Education Loan [...]
As the Obama administration and Congress push for tougher regulation of for-profit colleges, the Federal Education Department has formulated a strategy based on student loans repayment rates which proposes to cut federal funding of for-profit colleges that fail to perform. For-profit colleges, which currently depend on federal funding for up to 90 percent of their [...]
