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Wyoming’s Largest Student Lender to Stop Making Student Loans
02 November 09 08:02 AM | Student Loan Girl | 0 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. Read More...

Filed under: college loans, Federal Direct Loan Program, Federal Family Education Loan Program, federal student aid, federal student loans, FFELP, financial aid, H.R. 3221, NextStudent, Phil Van Horn, private student loans, SAFRA, Student Aid and Fiscal Responsibility Act, Student Loan Legislation, student loans, WyoLoan, Wyoming Student Loan Corporation

74% of Sallie Mae Loans Could Disappear Under Obama Plan
12 March 09 12:21 PM | Student Loan Girl | 0 Comments   

Sallie Mae — the largest provider of college student loans in the country — may ultimately see three quarters of its student loan business evaporate under a plan by President Obama that would end government subsidies to third-party lenders and establish the federal government as the sole provider of federal student loans. Read More...

Filed under: Arne Duncan, Billings, Bloomberg.com, Caroline Salas, college, college financial aid, college loans, Direct Loan Program, Education Secretary Arne Duncan, Federal Family Education Loan Program, federal government, federal student loans, FFELP, financial aid, Jody Shenn, Matt Snowling, NextStudent, paying for college, Portales Partners, President Obama, private lenders, private third party lenders, Sallie Mae, student borrowing, student loan marketplace, student loans, tuition, William Ryan

Student Loan Lending Still Going Strong
12 January 09 04:34 PM | Student Loan Girl | 0 Comments   

Despite being hampered last year by a lack of investors and a lack of access to credit, federal student loan lenders are surviving the economic crisis — making the student loan market one of the few lending industries still able to thrive this year, The Read More...

Filed under: college, College Board, college loans, Department of the Treasury, education secretary, Ensuring Continued Access to Student Loan Act, Federal Family Education Loan Program, Federal Reserve, federal student loans, FFELP, financial aid, HR 5715, Margaret Spellings, mortgage investments, mortgage securities, NextStudent, private student loan market, private student loans, Secretary of Education, Student Lending Analytics, student loan bailout, student loan industry, student loan investments, Student Loan Legislation, student loan lenders, student loan market, student loan securities, student loan statistics, student loan stats, student loans, The Wall Street Journal, Tim Ranzetta, Treasury Department

Direct Loan Program Gaining Ground on Bank-Based FFEL Program
29 October 08 04:27 PM | Student Loan Girl | 0 Comments   

According to a recent survey of college financial aid directors, the federal government’s Direct Loan Program — through which families get federal student loans directly from the Department of Education — could eclipse the government’s now dominant Federal Read More...

Filed under: bank-based FFEL program, college loans, colleges, Department of Educaiton, direct lenders, Direct Loan Program, Federal Family Education Loan Program, federal student loans, FFELP, financial aid, NextStudent, Student Lending Analytics, student loans, The Chronicle of Higher Education, third-party lenders, universities

Survey Shows New England Families Can Still Access Federal Student Loans, Despite Loss of Lenders
11 September 08 03:29 PM | Student Loan Girl | 0 Comments   

According to a regional survey of financial aid officers from 214 New England colleges and universities, students and parents have had few problems accessing federal student loans this year, but financial aid administrators have lingering doubts about Read More...

Filed under: aid administrators, college loans, college parents, college students, fallout, Federal Family Education Loan Program, federal student loan access, federal student loan programs, federal student loans, federal subsidies, FFELP, FFELP lenders, FFELP loans, financial aid, Financial Aid Officers, legislation, NEBHE, NEC, New England Board of Higher Education, New England borrowers, New England Council, New England families, new student loan provider, NextStudent, private lenders, student loans, subprime mortgage crisis, third-party lenders

Proposed Legislation Would Prevent Student Loan Lenders from ‘Cherry-Picking’ Schools They Lend To
19 June 08 06:14 PM | Student Loan Girl | 0 Comments   

To ensure all students have access to student loans regardless of what type of school they attend, two Democratic senators introduced legislation Tuesday that would prohibit banks and other lenders from “picking and choosing” which institutions of higher Read More...

Filed under: Christopher Dodd, Citibank, college loans, Community Colleges, default rates, Edward Kennedy, Federal Family Education Loan Program, FFELP, FFELP lenders, financial aid, higher education, Jonathan D. Glater, JPMorgan Chase, Low-Income Students, NextStudent, Patty Murray, PNC, selective lending, Senate Committee on Health Education Labor and Pensions, student loan crisis, student loans, SunTrust, The New York Times, two-year schools, U.S. Department of Education, universal college loans

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...

Filed under: college, Direct Loan Program, DLP, Doug Lederman, Federal Family Education Loan Program, FFELP, financial aid, Inside Higher Ed, NextStudent, student loans, tuition

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...

Filed under: Bank of America, bankruptcy, Boston Business Journal, Chapter 11, college, college loans, credit crisis, federal loans, federal student loans, FFELP, financial aid, First Marblehead, FMC, NextStudent, private loans, private student loans, revenue, shares, student loan market, student loans, TERI, The Education Resources Institute

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...

Filed under: capital, Chronicle of Higher Education, college, Congress, credit crisis, credit crunch, credit unions, Education, Edward Kennedy, Federal Family Education Loan Program, FFELP, FinAid, financial aid, Higher Education Act, Kennedy, lenders, liquidity, Mark Kantrowitz, Michael Kim, mortgages, NextStudent, nonprofit, Paul Basken, shortage, student loans, subprime, subsidies, UFCU, University Federal Credit Union, University of Southern California, University of Wisconsin, USC, USC Credit Union, UW Credit Union, UWCU