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‘Gap Loans’ at For-Profit Colleges Escape Proposed Legislation
27 October 09 12:47 PM | Student Loan Girl | 0 Comments   

While acting last Thursday to approve the creation of a Consumer Financial Protection Agency, which will expand federal oversight of private student loans, a Congressional panel at the same time voted to reject a proposal that would have included school-sponsored “gap loans” under the authority of the new CFPA. Read More...

Filed under: Barney Frank, Career Education Corporation, college loans, Consumer Financial Protection Agency, Consumer Financial Protection Agency Act, Corinthian Colleges, Deanne Loonin, Education Sector, federal student loans, FinAid, FinAid.org, financial aid, for-profit colleges, gap financing, gap funding, gap loans, H.R. 3126, H.R. 4137, Higher Education Act, Higher Education Act Reauthorization, Higher Education Opportunity Act, Institute for College Access and Success, ITT Tech, Jeff Silber, Justin Pope, Lauren Asher, Mark Kantrowitz, Maxine Waters, National Consumer Law Center, NextStudent, private student loans, proprietary colleges, student loan defaults, student loan lawsuits, Student Loan Legislation, student loans, TICAS, TILA, Truth in Lending Act, Westwood Colleges

Defaulted Student Loans Stuck in Credit-Freeze Induced Limbo
10 February 09 11:52 AM | Student Loan Girl | 0 Comments   

Thousands of student loan borrowers who have defaulted on their student loans — including 15,000 additional borrowers each month — are being forced to remain in default despite their efforts to bring their loans back into good standing, The Chronicle Read More...

Filed under: American Student Assistance, college loans, Congressional spending bill, credit crisis, credit freeze, Deanne Loonin, Department of Education, goverment bailout authority, government bailout program, government purchase program, government spending bill, Judy Ellis, Massachusetts student loan guarantor, Michael Ryan, National Consumer Law Center, National Council of Higher Educatiton Loan Programs, NextStudent, rehabilitated student loans, student loan borrowers, student loan defaults, student loan guarantor agencies, student loan guarantors, student loan market, student loan rehabilitation, student loans, SunTrust, Timothy Fitzgibbon