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Borrower Sues Student-Loan Lender for Allegedly Reneging on Its Contract
18 July 08 06:03 PM | Student Loan Girl | 0 Comments   

A student-loan borrower has filed a class-action lawsuit against student-loan lender Northstar Higher Education for allegedly breaking its contract with borrowers. In the suit, filed Monday with the U.S. District Court in Los Angeles, Northstar is accused Read More...

Filed under: auction-rate securities, college loans, credit crunch, interest-rate reduction, Jennifer So, Mark Lindgren, Minneapolis Star Tribune, NextStudent, Northstar, Northstar Education Finance Inc., Northstar Higher Education, student loan borrowers, student loan lenders, student loans, T.H.E. Repayment Bonus

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

Community Colleges Eliminate Friday Classes to Help Students Cut Gas Costs
19 May 08 07:54 PM | Student Loan Girl | 0 Comments   

Several two-year schools with large numbers of commuter students have reduced the length of their academic week from five days to four in an effort to reduce their students’ commute and help them save money on gas. Making class sessions longer, these Read More...

Filed under: Andy Guess, class schedules, classes, college, college loans, community college, credit crunch, economy, gas, Inside Higher Ed, Meridian Community College, NextStudent, prices, private student loans, Scott Elliott, student loans, summer school, Two-Year Colleges

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

Lowest-Income Students Need More Pell Aid, Authors of New Report Find
05 May 08 04:35 PM | Student Loan Girl | 0 Comments   

To help low-income students attend college, larger Pell Grants should be awarded to the most “financially needy” college students, according to a new report (“ Window of Opportunity: Targeting Federal Grant Aid to Students With the Lowest Incomes ”). Read More...

Filed under: Chronicle of Higher Education, college, college loans, credit crunch, EFC, expected family contribution, financial aid, grants, IHEP, Institute for Higher Education Policy, Low-Income Students, Need-Based Aid, NextStudent, Pell Grant, Pell Grants, Sen. Edward Kennedy, student loans, U.S. Senate

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

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

Kennedy to Colleges: Have Back-Up Plan for Students
21 April 08 05:34 PM | Student Loan Girl | 0 Comments   

In a letter sent to the American Council on Education on April 15, Sen. Edward Kennedy , D-Mass., the chairman of the Senate Education Committee, urged colleges to sign up for the Department of Education’s Federal Direct Loan Program as a preventive measure Read More...

Filed under: American Council on Education, college, college loans, credit crunch, Department of Education, direct lending, Edward Kennedy, Federal Direct Loan Program, Federal Family Education Loan Program, FFELP, FinAid, FinAid.org, NextStudent, private student loans, Sen. Edward Kennedy, Strengthening Student Aid Act of 2008, student loan crisis, Student Loan Legislation, student loans

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

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