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State Approves $50-Million Bridge Loan, Kentucky Students Will Finally See Their Student Loans
04 September 08 05:26 PM | Student Loan Girl | 0 Comments   

Students attending colleges and universities in Kentucky, many of whom have already begun their fall semester, will soon receive their federal student loans now that the state has finalized its $50 million bridge-loan deal with the state’s nonprofit student Read More...

Filed under: bridge loans, college, college loans, Department of Education, Education Department, Edward Cunningham, Federal Education Loan Program, FFELP, FFELP lenders, Governor Steve Beshear, Kentucky Governor, Kentucky Higher Education Student Loan Corp., Kentucky student loans, News-Democrat Leader, NextStudent, private student loans, state student loan agencies, state student loan providers, student loan crisis, student loan providers, student loan purchase program, student loans, The Student Loan People, The Student Loan People CEO

Government’s Direct Lending Program Sees 43-Percent Increase in Volume
02 September 08 05:36 PM | Student Loan Girl | 0 Comments   

As cash-strapped lenders continue to drop out of the Federal Family Education Loan Program , the number of student loans originated for the 2008–09 school year through the government’s Direct Loan Program has increased by 43 percent, reports The Chronicle Read More...

Filed under: Anna Griswold, college, College Cost Reduction and Access Act, college loans, credit crisis, Department of Education, direct lending program, Direct Loan Program, Education Department inspector general, education secretary, Federal Family Education Loan Program, Federal Student Loan Program, federal student loans, FFEL program, FFELP, financial aid administrators, H.R. 2669, House Committee on Education and Labor, Margaret Spellings, NextStudent, Penn State, Penn State student loans, Pennsylvania Higher Education Assistance Agency, private lenders, private student loans, Student Lending Analytics, student loan crisis, subprime mortgage crisis fallout, The Chronicle of Higher Education

Proposed Bailout for Massachusetts Student Loan Authority Uncertain
15 August 08 06:42 PM | Student Loan Girl | 0 Comments   

A third attempt to generate liquidity for the Massachusetts Educational Financing Authority may be too little too late for some 40,000 Massachusetts college students. With proposals from both the state’s governor and treasurer fizzling out, the student loan agency is attempting to raise funds from large investors through a new public bond offering — a deal that wouldn’t be finalized until September. Read More...

Filed under: bond issues, bond offerings, bonds, Boston Globe, college, college loans, credit crisis, credit crunch, Cyndi Roy, Deval Patrick, economic downturn, economy, financial aid, HESAA, Higher Education Student Assistance Authority, Massachusetts Educational Financing Authority, MEFA, NextStudent, paying for college, private student loans, student loan crisis, student loans, subprime mortgage crisis, subprime mortgage crisis fallout, Timothy Cahill, tuition

Kentucky Student Loan Provider Is Out of Money
13 August 08 02:08 PM | Student Loan Girl | 1 Comments   

The Kentucky Higher Education Assistance Authority, the state agency that provides college loans to students attending colleges and universities in Kentucky, will “effectively run out of money” Friday while it waits to receive a $50 million loan from Read More...

Filed under: bridge loans, college loans, colleges, Eastern Kentucky University, federal student loans, financial aid, funding shortage, James Ackinson, Kentucky, Kentucky Higher Education Assistance Authority, KHEAA, Lexington Herald-Leader, NextStudent, school vouchers, Shelley Park, student loan agency, student loan crisis, student loans, textbooks, The Student Loan People, tuition, universities

Governor Launches Website to Help Massachusetts Families Find Student Loans
07 August 08 04:32 AM | Student Loan Girl | 0 Comments   

Massachusetts Gov. Deval Patrick has set up a financial assistance website to help the 40,000 families who were previously served by the Massachusetts Educational Financing Authority to find a new student loan provider for the 2008–09 academic year, following Read More...

Filed under: bond sale, bonds, Boston College, college, college loan, college loans, credit crisis, credit crunch, Deval Patrick, economic downturn, economy, federal loans, federal student loans, financial aid, Gov Patrick, Harvard, Massachusetts, Massachusetts Educational Financing Authority, MEFA, MIT, NextStudent, paying for college, student loan crisis, student loans, subprime mortgage crisis, subprime mortgage crisis fallout, tuition, University of Massachusetts

Wachovia Suspends Its Undergraduate Private Student Loan Program
06 August 08 05:41 PM | Student Loan Girl | 0 Comments   

After posting an $8.9 billion second-quarter loss in July, Wachovia Corp. announced on Tuesday that, effective August 5, it would stop accepting applications for undergraduate private student loans. Read More...

Filed under: CNN, college, college loans, federal loans, federal student loans, financial aid, Inside Higher Ed, NextStudent, paying for college, private loans, private student loans, student loan availability, student loan credit market, student loan crisis, student loans, tuition, Wachovia

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

Back from Surgery, Kennedy Calls On Community Colleges to Switch to Direct Lending
17 June 08 11:11 AM | Student Loan Girl | 0 Comments   

Sen. Edward Kennedy , D-Mass., sent a letter Monday to the American Association of Community Colleges , urging its members to enroll in the government’s Direct Loan Program in order to ensure community college students have access to student loans for Read More...

Filed under: AACC, American Association of Community Colleges, college loans, Community Colleges, credit crunch, David Baime, direct lenders, direct lending program, Direct Loan Program, Education, Education Department, Edward Kennedy, Federal Family Education Loan Program, FFELP, FFELP lenders, Labor and Pensions, NextStudent, private lenders, Senate Committee on Health, Senator Edward Kennedy, Senator Kennedy, student loan crisis, student loan shortage, student loans, subsidy cuts, U.S Department of Education

President Bush Signs Legislation That Boosts Availability of Student Loans
08 May 08 09:15 AM | Student Loan Girl | 0 Comments   

On May 7, President George Bush signed into law legislation intended to help stabilize the $85-billion student loan industry and to avert a predicted shortage in student loans. The law will allow the U.S. Department of Education to buy bundled student Read More...

Filed under: college, college loans, credit crisis, credit crunch, Education Department, Edward Kennedy, federal student loans, George Bush, George Miller, lender of last resort, Margaret Spellings, NextStudent, President Bush, President George Bush, Rep. George Miller, Reuters, Secretary of Education, Senator Kennedy, student loan bill, student loan crisis, student loan crunch, student loan industry, Student Loan Legislation, student loan shortage, student loans, The Chronicle of Higher Education, U.S. Department of Education

Wesleyan University Student-Pioneered Endowment First of Its Kind
05 May 08 10:25 AM | Student Loan Girl | 0 Comments   

The student government at Wesleyan University in Middletown, Connecticut, has established an endowment that it hopes will eventually eliminate the $270 activity fee required of all students, writes Charles Proctor of The Hartford Courant (“ Wesleyan Students Read More...

Filed under: Charles Proctor, college, college affordability, college costs, college endowments, college loans, credit crunch, Matthew Ball, NextStudent, private student loans, student activity fees, student loan crisis, The Hartford Courant, The Wesleyan Student Assembly, tuition increases, university endowments, Wesleyan University

Pennsylvania Student Loan Agency to Cut Grant Aid, Offer Employee Buyouts
30 April 08 05:06 PM | Student Loan Girl | 0 Comments   

Pennsylvania’s student-loan agency will cut college grant amounts for the 2008–09 academic year by up to $750 and will offer voluntary buyouts to some of its nonunion employees in an effort to keep the company afloat. The Pennsylvania Higher Education Read More...

Filed under: Associated Press, college, college grants, college loans, College Scholarships, credit crisis, credit crunch, Keith New, NextStudent, Pennsylvania Higher Education Assistance Agency, Pennsylvania student-loan agency, private student loans, student loan crisis, student loans

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...

Filed under: college, college loans, decision 2008, democratic primary, Department of Education, ecomonmic slowdown, Education Department, Federal Direct Loan Program, Federal Family Education Loan Program, federal loans, Federal Student Loan Program, federal student loans, FFELP, Hillary Clinton, mortgage crsis, mortgage industry, mortgage meltdown, NextStudent, parent PLUS loans, PLUS Loans, predatory lending, presidential candidates, presidential primaries, private loans, private student loans, recession, Senator Hillary Rodham Clinton, student loan crisis, student loan information, student loans

The New Financial Aid Landscape
26 April 08 12:41 PM | Student Loan Girl | 0 Comments   

Even as the media has been drawn in recent months to the looming student loan availability crisis, many of the country’s top colleges and universities have been revamping their financial aid programs to better assist parents and students in covering their college costs. Read More...

Filed under: accessibility, Anne Marie Chaker, COA, college, college loans, Cornell, cost of attendance, credit crisis, Dartmouth, debt, EFC, endowment, expected family contribution, financial aid, grants, Harvard, income, inflation, MIT, NextStudent, private student loans, Stanford, student debt, student loan crisis, student loan debt, student loans, tuition, tuition discounts, tuition waivers, undergraduate, Wall Street Journal, Yale

Arkansas Offers State Student Loan Agency $80M Line of Credit
24 April 08 04:53 PM | Student Loan Girl | 0 Comments   

The Arkansas state student loan authority has been tentatively approved for an $80 million loan after an announcement that it may not be able to continue issuing student loans without financial assistance. The state board of finance, the investment arm Read More...

Filed under: Arkansas Student Loan Authority, Associated Press, college, college loans, credit crunch, federal college loans, federal student loans, NextStudent, Stafford student loans, student loan crisis, student loans

Financial Aid Administrators Oppose New Preferred-Lender List Rule
23 April 08 06:01 PM | Student Loan Girl | 0 Comments   

The National Association of Student Financial Aid Administrators has asked the Department of Education to reconsider its interpretation of a new rule that requires colleges to have at least three student loan lenders that are not affiliated with each Read More...

Filed under: college, college loans, credit crisis, Department of Education, Education Department, financial aid administrators, Kelly Field, NASFAA, National Association of Student Financial Aid Administrators, NextStudent, Philip Day Jr., preferred lender lists, Preferred Lenders, private student loans, student loan crisis, student loans, The Chronicle of Higher Education