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Survey Indicates Significant Number of Colleges May Switch to Direct Lending Program
08 May 08 04:36 PM | Student Loan Girl | 0 Comments   
In the last few months, the number of lenders who have exited or suspended participation in the guaranteed Family Federal Education Loan Program has ballooned to 66 organizations, according to FinAid.org , leaving many schools wondering if their students Read More...
Sen. Hillary Clinton Unveils Plan to Tackle the Student Loan Crisis
29 April 08 10:56 AM | Student Loan Girl | 0 Comments   
Sen. Hillary Rodham Clinton recently announced the details of a sweeping plan to help ensure students have continued access to federal student loans amid a flurry of private lenders leaving the federal student loan program. “Hundreds of thousands of students Read More...
Kennedy to Colleges: Have Back-Up Plan for Students
21 April 08 05:34 PM | Student Loan Girl | 0 Comments   
In a letter sent to the American Council on Education on April 15, Sen. Edward Kennedy , D-Mass., the chairman of the Senate Education Committee, urged colleges to sign up for the Department of Education’s Federal Direct Loan Program as a preventive measure Read More...
Kentucky Lender Puts Brakes on Student Loans to New Borrowers
21 April 08 02:50 PM | Student Loan Girl | 0 Comments   
Citing ongoing fallout from the national capital market crisis, Kentucky officials announced the state’s student loan agency will stop making student loans to first-time borrowers beginning May 1 until it can secure additional financing, according to Read More...
Bank of America Backs Out of Private Student Loan Business
19 April 08 02:03 PM | Student Loan Girl | 1 Comments   
On April 17, Bank of America Corp. notified student-loan packager First Marblehead Corp. that it would no longer offer private student loans, focusing instead on providing federal student loans. Bank of America’s announcement comes amid increasing unsteadiness Read More...
Department of Education Planning Emergency Financial Aid Survey
18 April 08 04:45 PM | Student Loan Girl | 0 Comments   
In an effort to better gauge the availability of federal student loans, the U.S. Department of Education is planning to issue an emergency survey to the 4,500 colleges that participate in the Federal Family Education Loan Program. With almost 50 FFELP Read More...
Credit Unions Offer Themselves as Partial Solution to Looming Student Loan Crisis
12 April 08 11:19 AM | Student Loan Girl | 0 Comments   
In the last six months alone, since legislators eliminated over $21 billion in subsidies to student loan lenders in the Federal Family Education Loan Program, at least 44 FFELP lenders have stopped originating federal student loans. This exodus of lenders Read More...
FY08 Budget Update
08 May 07 05:28 PM | Student Loan Girl | 0 Comments   
According to a May 4, 2007 article briefing titled “Accordance on Budget Resolution Imminent” that appeared in the National Council of Higher Education Loan Programs Inc.’s Daily Briefing , “ To expand on yesterday’s overview of FY 08 budget resolution Read More...
Who Are They Kidding? Defend Your Rights While You Still Can
23 February 07 10:28 PM | Student Loan Girl | 0 Comments   
On Monday, Feb. 19, 2007 I wrote about the new STAR Act, whose proponents claim that with all the potential savings to be won by colleges switching from the FFELP (Federal Family Education Loan Program) to the FDLP (Federal Direct Lending Program), approximately Read More...

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