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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

Univ. of Phoenix Accused of Manipulating Its Default Rate
14 January 09 04:39 PM | Student Loan Girl | 0 Comments   

Three former University of Phoenix students are suing the for-profit higher education giant for using a questionable loan repayment practice that skews the university’s default rate and takes away federal student loan repayment options from students who Read More...

Filed under: college, college lawsuits, college loans, Education Department, federal college loans, federal student aid, Federal Student Loan Program, federal student loans, federally guaranteed loans, for profit colleges, Higher Education Act, NextStudent, online college, student loan collections, student loan default rates, student loan defaults, student loan grace periods, student loan interest rates, student loan payback policies, student loan repayment options, student loan repayment terms, student loans, The Chronicle of Higher Education, U.S. Department of Education, Univeristy of Phoenix