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Wells Fargo Empties Customer’s Checking Account to Pay Delinquent Student Loan
07 May 10 07:32 AM
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NextStudent
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An Atlanta couple has found themselves with their savings wiped out after their bank, Wells Fargo, cleared out their checking account in order to pay a piece of what bank officials maintain is an outstanding student loan.
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Program Repays Student Loans of Veterinarians Working in Rural Areas
06 May 10 12:47 PM
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Shannon Rasberry
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The USDA’s National Institute of Food and Agriculture has begun accepting applications for its Veterinary Medicine Loan Repayment Program, which will repay up to $25,000 of a veterinarian’s federal and private student loans in exchange for service in underserved rural areas of the country.
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Proposed Legislation Allows Discharge of Private Student Loans in Bankruptcy
04 May 10 06:08 AM
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NextStudent
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Democratic lawmakers in both chambers of Congress have proposed legislation that would make private student loans eligible for discharge under U.S. bankruptcy laws. The legislation is aimed at “restoring fairness in student lending by treating privately issued student loans in bankruptcy the same way other types of private debt are treated,” said Sen. Richard Durbin of Illinois.
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Private Student Loan Delinquencies Fall During the Last Months of 2009
03 May 10 01:58 PM
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Shannon Rasberry
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The last three months of 2009 saw a decrease in late payments for private student loans and reversed a five-quarter trend of rising delinquencies, according to the first publicly released analysis of private student loan payment data from credit reporting agency TransUnion.
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Sallie Mae Cuts 2,500 Jobs in Response to New Federal Student Loan Law
30 April 10 08:56 AM
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Shannon Rasberry
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Sallie Mae, the largest student loan company in the United States, is cutting 2,500 jobs over the next two years in response to new federal legislation that ends taxpayer subsidies to private lenders for the origination of federal student loans.
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First Marblehead Partners With SunTrust to Offer Private Student Loans
26 April 10 01:21 PM
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NextStudent
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First Marblehead Corp., one of the country’s leading providers of private student loans, announced today that it has entered into a joint private student loan program with SunTrust Banks. SunTrust will fund the program’s private loans, and First Marblehead will provide various support services.
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Shuttered I.T. School Sued for Siphoning Millions in Tuition and Student Loans
23 April 10 07:30 AM
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Shannon Rasberry
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Maryland-based computer training school ComputerTraining.edu is being sued by the Pennsylvania attorney general and in a federal class-action claim for abruptly shutting down its operations and leaving its students with thousands of dollars of debt from student loans but without certifications and without refunds.
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3.3 Million Stolen Student Loan Records Found in Police Evidence Room
21 April 10 11:33 AM
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Shannon Rasberry
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The personal records of 3.3 million student loan borrowers that were reported stolen over the weekend of March 20–21 by Minnesota-based student loan guarantor Educational Credit Management Corp. have been discovered sitting safe and secure in a Minneapolis police evidence room.
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New Website Helps Grads Ask for Donations to Pay Down Student Loans
16 April 10 07:31 AM
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Shannon Rasberry
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1 Comments
In response to the specter of tens, even hundreds, of thousands of dollars of student loan debt facing their college-bound children, four mothers have started Lily’s List, a website that helps relatives, friends, and even anonymous donors pay down students’ and graduates’ student loans “one birthday, holiday, or graduation gift at a time.”
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‘Find a Job, or Your Tuition Back’ — New College Program Could Help Ease Burden of Student Loan Debt
14 April 10 02:50 PM
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Shannon Rasberry
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In what is considered to be a first for higher education in the United States, a Michigan community college has started a vocational certification program that offers a money-back guarantee should students not find a job within a year after completing the program.
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South Carolina Colleges Foresee Problems With Government Handling of Federal Student Loans
05 April 10 08:30 AM
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Shannon Rasberry
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While the recently passed Student Aid and Fiscal Responsibility Act promises to save taxpayers billions of dollars and expand financial aid to students, the idea that its overhaul of federal student loans will go off without a hitch is one that’s not shared by many colleges in South Carolina. State school officials have been expressing doubts that a mere handful of government agencies can successfully execute the work that until now has been handled by hundreds of state agencies and banks.
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3.3 Million Borrower Records Stolen From Student Loan Guarantor
31 March 10 07:28 AM
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Shannon Rasberry
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0 Comments
The personal records of 3.3 million student loan borrowers have been stolen from national student loan guarantor Educational Credit Management Corp. The stolen data includes borrower names, birth dates, addresses, and Social Security numbers. The incident is believed to be the largest-ever breach of student loan borrower information.
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Connecticut Looks to Forgive Student Loans for Graduates in Green Jobs
22 March 10 07:30 AM
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NextStudent
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1 Comments
Legislation currently before Connecticut’s House-Senate Committee on Higher Education could draw workers to the state by offering student loan forgiveness to those with a degree in green technology, life sciences, or health information technology. The proposed legislation would earmark $6 million for student loan debt waivers for eligible graduates.
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Wyoming’s Largest Student Lender to Stop Making Student Loans
02 November 09 08:02 AM
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NextStudent
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1 Comments
The largest student loan lender in Wyoming, the nonprofit Wyoming Student Loan Corp., also known as WyoLoan, has announced that it will no longer be issuing any new parent or student loans beginning April 1, 2010.
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SEC Investigates University of Phoenix Owner, Apollo Group
29 October 09 12:03 PM
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NextStudent
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Apollo Group Inc., the parent company of the University of Phoenix, the largest for-profit college in the country, announced on Tuesday that the Securities and Exchange Commission has launched an “informal inquiry” into the company’s revenue accounting practices for the second time this year.
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