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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

Overhaul of Student Loan System in the Works
22 June 09 08:30 AM | Student Loan Girl | 0 Comments   

A bill to overhaul the student loan industry may reach Congress as early as next week; education-committee chairs are working behind the scenes on a piece of legislation that would eliminate the third-party student loan system called the Federal Family Read More...

Filed under: Congressional Budget Office, Consumer Price Index, fate of student loan industry, Federal Family Education Loan Program, Federal Pell Grant Program, federal student loan lenders, Federal Student Loan Program, federal student loans, FFEL program, FFELP, FFEP lenders, NextStudent, Obama student loan plan, Pell Grants, private student loans, Sallie Mae, student loan industry, student loan laws, Student Loan Legislation, student loan overhaul, student loan regulation, student loans, The Chronicle of Higher Education, third party student loan lenders

The Plot Thickens for the Future of Student Lending
13 April 09 05:00 PM | Student Loan Girl | 0 Comments   

It’s “all hands on deck” for federal student loan lenders, who have made it abundantly clear that they’re not going to roll over and accept the terms of the Obama administration’s proposal to axe their Federal Family Education Loan Program in favor of the Education Department’s Direct Loan Program without a fight. Read More...

Filed under: Albert Lord, Allen Boyd, college, college loans, Congressional Budget Office, default prevention, Direct Loan Program, Education Department, Federal Family Education Loan Program, federal loan program, federal student loans, FFEL program, FFELP lenders, Florida representatives, government bailout, government loan program, NextStudent, Obama administration, Pell Grant program, private lenders, representative Timothy Bishop, Sallie Mae, Southampton College, state loan guarantee agencies, student loan companies, student loan providers, student loans, The New York Times

Federal Student Loan Lenders Fight for Survival
30 March 09 04:52 PM | Student Loan Girl | 0 Comments   

In what is being viewed as a direct hit to private third-party lenders in the Federal Family Education Loan Program who are fighting to keep the program alive, the U.S. Department of Education’s preliminary data paints the FFEL program as a costly and Read More...

Filed under: American Council of Education, Barack Obama, Brett Lief, college, college loans, Congressioanl Budget Office, Consumer Bankers Association, direct loan borrowers, Direct Loan Program, direct loans, Education Department loans, Federal Family Education Loan Program, Federal Pell Grant Program, federal Pell Grants, Federal Student Loan Program, federal student loans, federal subsidies, FFEL program, FFELP, FFELP lenders, National Council of Higher Education Loan Programs, NextStudent, Obama administration, Obama legislation, Obama proposals, President Obama, Sallie Mae student loans, state student loan guarantee agencies, student loan borrowers, student loan default prevention programs, student loan default rate data, student loan default rates, Student Loan Legislation, student loans, Terry Hartle, The Wall Street Journal, U.S. Department of Education, U.S. Freedom of Information Act

Aid Administrators to Lawmakers: “Don’t Kill Guaranteed Student Loans”
24 March 09 05:02 PM | Student Loan Girl | 0 Comments   

Just as Congress is about to vote on President Obama’s plan to end the government’s Federal Family Education Loan Program, through which families get their student loans from private third-party lenders, a lender advocacy group is urging lawmakers to consider an alternative to the president’s proposal. Read More...

Filed under: budget reconciliation process, budget resolution, Chronicle of Higher Education Department of Education, college, college financial aid, college loans, Congress, direct lending, Direct Loan Program, Doug Lederman, Federal Family Education Loan Program, federal student loan model, financial aid, government spending plan, government subsidized bonds, guarantors, Inside Higher Ed, investors, Kelly Field, lawmakers, lender advocacy group, loan default, loan forgiveness programs, National Association of Student Financial Aid Administrators, NextStudent, nonprofit lenders, paying for college, Philip R. Day Jr, President Obama, private lenders, student loan debt, student loan reform, student loans, tax credit, tuition

Despite Down Economy, College Student Aid Still Thriving
23 March 09 05:18 PM | Student Loan Girl | 0 Comments   

In economic downturns, colleges and universities become flooded with students of all ages looking to better prepare themselves for an increasingly competitive job market. But these schools haven’t been immune to the effects of today’s recession. Fortunately, for every recent economic downturn in higher education there’s also been a tangible upside. Read More...

Filed under: Associated Press, college, college aid, college endowments, college loans, Direct Loan Program, economic recession, Education Department, Federal Family Education Loan Program, federal stimulus money, federal student aid, federal student loan programs, federal student loans, FFELP, FFELP lenders, institutional aid, Kent State University, Manchester College, merit scholarships, merit aid, National Association of Independent Colleges and Universities, NextStudent, pell grant awards, pell grant increases, Pell Grants, private student loans, public colleges budget crisis, Stafford student loans, state aid, state budget cuts, Student Aid, student loan market, student loan securities, student loans, tuition applications, tuition assistance, tuition costs, tuition hikes, tuition increases, tuition waivers, U.S. Department of Education

More Schools Offering Direct Student Loans
13 March 09 02:25 PM | Student Loan Girl | 0 Comments   

The direct student loan program — which President Obama wants to establish as the sole provider of federal student loans by 2010 — is swiftly gaining ground on the Federal Family Education Loan Program. Read More...

Filed under: Barry Feierstein, college, college financial aid, college loans, Department of Education, Direct Loan Program, direct student loan program, Federal Family Education Loan Program, federal student loans, FFEL program, financial aid, NextStudent, originator of federal student loans, paying for college, poor customer service, President Obama, private student loan lenders, private third party lenders, Sallie Mae, Sandra Block, student loan default, student loan industry, student loans, surge in loan volume, tuition, USA Today

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

Auditors Accuse Bank of Illegally Getting Student Loans
09 January 09 02:20 PM | Student Loan Girl | 0 Comments   

A recently completed audit of Fifth Third Bank — the 20th largest lender of federal student loans in the country according to college financial aid site FinAid — found that the bank violated federal law by illegally paying three companies for loan applications Read More...

Filed under: bank, Cliff Peale, college, college financial aid, college loans, Department of Education, Federal Family Education Loan Program, federal student loan program federal student loan, FFEL, Fifth Third Bank, FinAid, financial aid, improperly obtained loan, inducements, Inspector General, Kelly Field, Law School Financial, lenders, loan application, loan volume, MSA Solution Inc, NextStudent, Pacific Loan Processing, paying for college, student loans, The Chronicle of Higher Education, The Enquirer, tuition

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

Student Loan Crunch Affected Some Private Schools, But Crisis Largely Avoided
28 October 08 01:59 PM | Student Loan Girl | 0 Comments   

The student loan crunch that began this past spring failed to become the widespread crisis that experts predicted, according to the results of a survey by the National Association of Independent Colleges and Universities . Still, the NAICU reports, some Read More...

Filed under: bankruptcy, college, college costs, College Enrollment, college financial aid, college loans, David Warren, enrollment, Federal Family Education Loan Program, financial aid, Lehman Brothers, NAICU, NAICU survey, National Association of Independent Colleges and Universities, NextStudent, paying for college, private lenders, Sarah Flanagan, Student Aid, student loan crisis, student loan crunch, student loans, The Chronicle of Higher Education, third party lenders, tuition

Missouri Loan Forgiveness Program to Erase More Than $400,000 in Student Loans
20 October 08 05:08 PM | Student Loan Girl | 0 Comments   

As part of a statewide effort to support education in math and science, the Missouri Higher Education Loan Authority has agreed to forgive nearly $444,000 in student loans for almost 300 engineering and pre-engineering college students (“ MOHELA Forgives Read More...

Filed under: Bank American Securities, college loans, engineering majors, Federal Family Education Loan Program, federal student loans, FFELP, loan forgiveness programs, MarketWatch, Math Engineering Technology and Sciences Alliance, Matt Blunt, METS, Missiouri college students, Missiouri govenor, Missouri colleges, Missouri Higher Education Loan Authority, Missouri universities, MOHELA, NextStudent, private student loans, Prospective Engineering Student Loan Forgiveness Award Program, Raymond Bayer Jr, Stafford student loans, student loans

Sen. Schumer Calls for Government to Protect Student Loans Amid Passage of $700 Billion Bailout Bill
14 October 08 01:17 PM | Student Loan Girl | 0 Comments   

Concerned that students who are eligible to go to college won’t be able to pay for their education costs in light of the current credit crisis and a steadily worsening economy, Sen. Charles Schumer is urging the federal government to make sure student Read More...

Filed under: American Council on Education, Ben Bernanke, Charles Schumer, college loan, Congress, Deepti Hajela, Direct Loan Program, Federal Family Education Loan Program, Federal Reserve, Federal Reserve chairman, financial aid, Hank Paulson, NextStudent, paying for college, private credit, student loan, Student Loan Legislation, tuition

College Steps in After Edamerica Falls Behind in Dispersing Student Loans
30 September 08 09:03 AM | Student Loan Girl | 0 Comments   

A Milwaukee technical college is providing emergency student loans to some of its students after one of the college’s student loan providers announced it would not immediately have funds to issue the loans, reports the Milwaukee Journal Sentinel (“ MATC Read More...

Filed under: college loans, credit crunch, Edamerica, emergency loans, Federal Family Education Loan Program, federally guaranteed student loan program, financial problems, loan dispersements, loan refund checks, master promissory note, MATC, Milwaukee Area Technical College, Milwaukee Journal Sentinel, NextStudent, private lenders, student loan providers, student loans, technical college, third-party lenders, University of Maryland-Baltimore County, University of Southern Mississippi, University of Wisconsin-Milwaukee