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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

Bank of America Backs Out of Private Student Loan Business
19 April 08 02:03 PM | Student Loan Girl | 1 Comments   

On April 17, Bank of America Corp. notified student-loan packager First Marblehead Corp. that it would no longer offer private student loans, focusing instead on providing federal student loans. Bank of America’s announcement comes amid increasing unsteadiness Read More...

Filed under: availability, Bank of America, bankruptcy, Boston Business Journal, Chapter 11, college, college loans, credit crisis, federal loans, federal student loans, FFELP, financial aid, First Marblehead, FMC, NextStudent, private loans, private student loans, revenue, shares, student loan market, student loans, TERI, The Education Resources Institute

Credit Unions Offer Themselves as Partial Solution to Looming Student Loan Crisis
12 April 08 11:19 AM | Student Loan Girl | 0 Comments   

In the last six months alone, since legislators eliminated over $21 billion in subsidies to student loan lenders in the Federal Family Education Loan Program, at least 44 FFELP lenders have stopped originating federal student loans. This exodus of lenders Read More...

Filed under: capital, Chronicle of Higher Education, college, Congress, credit crisis, credit crunch, credit unions, Education, Edward Kennedy, Federal Family Education Loan Program, FFELP, FinAid, financial aid, Higher Education Act, Kennedy, lenders, liquidity, Mark Kantrowitz, Michael Kim, mortgages, NextStudent, nonprofit, Paul Basken, shortage, student loans, subprime, subsidies, UFCU, University Federal Credit Union, University of Southern California, University of Wisconsin, USC, USC Credit Union, UW Credit Union, UWCU