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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

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

Community Banks May Be an Option for Families Looking to Weather Student Loan Crunch
06 August 08 06:17 PM | Student Loan Girl | 0 Comments   

Although the turmoil in the nation’s credit markets has forced student loan providers, including some big banks, to stop offering federal and private student loans, these lenders’ financial troubles may provide the opening community banks need to get Read More...

Filed under: college, College Financial Aid, community banks, credit crisis, credit crunch, Douglas Stebbins, financial aid, local banks, NextStudent, student loan, student loan credit crunch, student loans, tuition

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

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

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

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

Kentucky Lender Puts Brakes on Student Loans to New Borrowers
21 April 08 02:50 PM | Student Loan Girl | 0 Comments   

Citing ongoing fallout from the national capital market crisis, Kentucky officials announced the state’s student loan agency will stop making student loans to first-time borrowers beginning May 1 until it can secure additional financing, according to Read More...

Filed under: college, college loans, credit crisis, credit crunch, Federal Family Education Loan Program, Federal Financing Bank, FFELP, Kentucky student loans, Loan Forgiveness, Nancy C. Rodriguez, NextStudent, private student loans, student loan crunch, student loans, The Courier-Journal, The Kentucky Higher Education Student Loan Corp. The Student Loan People, U.S. Treasury

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: 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

Bear Stearns Takeover Leaves Business-School Students Scrambling
14 April 08 08:13 PM | Student Loan Girl | 0 Comments   

BearStearns CEO, Jimmy Cayne, seems to have been the only former Stearns employee to make it out of the JPMorgan Chase buyout relatively unscathed — at least in non-CEO terms — walking away with $61.3 million in sold shares. Even though, in his own high-priced Read More...

Filed under: Alison Damast, bailout, Bear Stearns, Ben Bernanke, business school, BusinessWeek, buyout, career, CEO, college, credit crisis, economy, employment, Fed, financial services, graduate students, graduates, Internships, investment firm, James Cayne, Jimmy Cayne, JPMorgan Chase, market, MBA, MBA Career Services Council, New York Times, New York University, NextStudent, NYU, recession, shares, Stern School of Business, student jobs, student loans, Tom Kozicki

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

Financial Industry Woes Affecting Commercial Education
10 March 08 07:02 AM | Student Loan Girl | 0 Comments   

The current credit crisis, combined with recent legislation cutting federal subsidy payments to student loan companies that make federally guaranteed student loans, has begun to take a noticeable toll on commercial education companies. The past few months Read More...

Filed under: borrowers, Career Education Corporation, college, commercial education, community college, Corinthian Colleges, credit crisis, credit crunch, Credit History, credit requirements, economy, Fed, Federal Reserve, financing, income, ITT, ITT Tech, Jonathan Glater, Michael Dannenberg, New America Foundation, New York Times, NextStudent, private student loans, risk, student loan companies, student loans, subprime, tuition