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SEC Investigates University of Phoenix Owner, Apollo Group
29 October 09 12:03 PM | Student Loan Girl | 0 Comments   

Apollo Group Inc., the parent company of the University of Phoenix, the largest for-profit college in the country, announced on Tuesday that the Securities and Exchange Commission has launched an “informal inquiry” into the company’s revenue accounting practices for the second time this year. Read More...

Filed under: Apollo Group, Brian Swartz, Chas Edelstein, Citron Research, college loans, David Seide, financial aid, for-profit colleges, GAO, Government Accountability Office, NextStudent, private student loans, proprietary colleges, Robert Wetenhall, Sally Stroup, SEC, Securities and Exchange Commission, Signal Hill Capital Group, student loan debt, student loan defaults, student loan lawsuits, student loans, Trace Urdan, University of Phoenix

‘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

Anticipating a Falloff in Student Loan Defaults
22 October 09 12:47 PM | Student Loan Girl | 0 Comments   

After hitting a new high of $443 million in charge-offs on its student loans this past quarter, major student lender Sallie Mae anticipates a slowdown in these student loan defaults, the company announced during its third-quarter earnings call yesterday. Read More...

Filed under: Albert Lord, college loans, Jack Remondi, NextStudent, private student loans, Sallie Mae, student loan credit crisis, student loan defaults, student loans, subprime mortgage crisis, subprime mortgage crisis fallout

Government Asks Student Loan Borrowers in Default to Pony Up
16 February 09 03:02 PM | Student Loan Girl | 0 Comments   

Americans who have failed to repay their federal student loans may soon find themselves facing litigation, The National Law Journal reports (“ Government Cracking Down on Unpaid Student Loans ,” Feb. 13, 2009). The U.S. Department of Justice has contracted Read More...

Filed under: collections law firm, college loans, defaulted student loans, federal student loans, government crackdown, government lawsuit, litigation against student loan borrowers, Randall Samborn, student loan borrowers, student loan collections, student loan defaults, student loans, Teller Levit & Silvertrust P.C., The National Law Journal, U.S. Attorney's Office for the Northern District of Illinois, U.S. Department of Justice, unpaid student loans

Defaulted Student Loans Stuck in Credit-Freeze Induced Limbo
10 February 09 11:52 AM | Student Loan Girl | 0 Comments   

Thousands of student loan borrowers who have defaulted on their student loans — including 15,000 additional borrowers each month — are being forced to remain in default despite their efforts to bring their loans back into good standing, The Chronicle Read More...

Filed under: American Student Assistance, college loans, Congressional spending bill, credit crisis, credit freeze, Deanne Loonin, Department of Education, goverment bailout authority, government bailout program, government purchase program, government spending bill, Judy Ellis, Massachusetts student loan guarantor, Michael Ryan, National Consumer Law Center, National Council of Higher Educatiton Loan Programs, NextStudent, rehabilitated student loans, student loan borrowers, student loan defaults, student loan guarantor agencies, student loan guarantors, student loan market, student loan rehabilitation, student loans, SunTrust, Timothy Fitzgibbon

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

Debt Collection Agency Adding Hundreds of Jobs
18 November 08 10:21 AM | Student Loan Girl | 0 Comments   

Premiere Credit of North America , a debt collection agency based in Indianapolis, is a bit of an anomaly in today’s down economy — it is thriving at a time when many businesses are cutting back their workforces and many debt collection agencies are losing Read More...

Filed under: bankruptcy, Chicago Tribune, college, college loans, David Hoeft, debt, debt collection agencies, debt collection, debt collection companies, Debt Collectors, delinquent college loans, delinquent student loans, economic downturn, Education Department, Erika Smith, government debt, Indiana debt collection agencies, Indianapolis debt collectors, NextStudent, Premiere Credit of North America, private student loans, student loan debt, student loan defaults, student loan payments, student loans, The Indianapolis Star, U.S. Department of Education, unpaid student loans, unsecured debt

Citibank Suspends Student Loan Program for International Students
15 October 08 06:04 PM | Student Loan Girl | 0 Comments   

Citibank announced it is canceling its private student loan program for international students in an effort to minimize its financial risk during the global financial crisis, Bloomberg reports (“ Citigroup Curbs Foreign-Student Loans at Harvard, MIT, Read More...

Filed under: Bank of America, Bloomberg, CitiAssist, Citibank, college loans, cosigner, Elizabeth Hicks, FinAid.org, financial aid, foreign students, Harvard University, International Students, Mark Kantrowitz, MIT, NextStudent, private student loans, Sloan School of Management, student loan defaults, student loans, University of Michigan

Shares of Corinthian Colleges Stock Take Nosedive Over Student Loan Defaults
28 August 08 06:56 PM | Student Loan Girl | 0 Comments   

Despite an 11.5-percent boost in student enrollment and an 18.3-percent growth in revenue over the last quarter, Corinthian Colleges saw its shares tumble in afternoon NASDAQ trading on Tuesday, amid investor fears of rising defaults on the school network’s student loans. Read More...

Filed under: Bloomberg, BMO Capital Markets, career colleges, CLC, college, College Loan Corp, college loans, Corinthian Colleges, credit crisis, default rates, financial aid, Forbes, Jack Massimino, Jeffrey Silber, Kenneth Ord, NextStudent, paying for college, private student loans, Ruthie Ackerman, Sallie Mae, stock values, student loan availability, student loan defaults, Student Loan Express, student loans, subprime, subprime mortgage crisis fallout, trade schools