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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

Technical College May Lose Ability to Offer Federal Financial Aid For Violating Newly-Relaxed Aid Rule
20 August 08 01:05 PM | Student Loan Girl | 0 Comments   

Star Technical Institute , a technical college in New Jersey, may not be able to offer federal financial aid to students at two of its seven campuses for allegedly violating a federal law that requires colleges to obtain 10 percent or more of their revenues Read More...

Filed under: 90-10 Rule, Chronicle of Higher Education, college financial aid, college loans, College Opportunity and Affordability Act of 2008, college tuition hike, Department of Education, federal student loans, financial aid, H.R. 4137, Karen Manin, NextStudent, Paul Basken, paying for college, Stafford student loans, Star Technical Institute, student loans