These legal advantages for the collectors of student loan debt have resulted in an unprecedented 80% recoupment rate for every defaulting student loan default.
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On the student loan, I may be very ignorant about this, but if you reduce the rate of payment, doesn't that make the loan over time more expensive for the student loan applicant?
While no one wants to file for bankruptcy protections on student loans (or any other type of loan for that matter), their removal from student loans has clearly caused a systemically predatory lending system the likes of which this country has never seen, and has also enabled the intolerable tuition inflation already mentioned.
FORBES: Note for "Super Wednesday" - Either Party Can Occupy the Student Loan Issue
For a long time, our student loan system has worked for banks and financial institutions.
The equity interest isn't deductible under the AMT and the new law liberalizes deductions for student loan interest.
Some argue that one important fix to the system is to allow for student loan debt to be discharged in bankruptcy.
Satyajit Chatterjee at the Federal Reserve Bank of Philadelphia and Felicia Anamaria Ionescu at Colgate University recently published a paper examining the possible market for student loan insurance.
In order to create the funds necessary for student loan forgiveness, 54% of respondents said the government should erase subsidies to oil and gas companies, the cliche whipping boys of students everywhere.
Some Stafford loans are subsidized, which means the government will pay for the interest on the loan accrued while the student is in school for at least part of the time.
The IRS deemed me uncollectable due to my health issues, for which I am thankful, and my student loan hss been forgiven for the same reason.
Something all the parties seem to be very ignorant to is that the student loan isn't enough for most students to live on, accommodation fees frequently take up most or all of a student loan, and even when they don't you certainly can't afford more than 2 text books a year before having to work or borrow extra money.
BBC: NEWS | Have Your Say | Who's got the right policy on tuition fees?
The U.S. Education Department just announced that the national student loan default rate rose for the fourth year in a row and an Institute for Higher Education Policy study showed that only 37% of federal student loan borrowers actually made their payments without interruption over the past five years.
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The federal government should invest in proactive education debt management services for all student loan borrowers.
FORBES: Student Loan Borrowers Need Help to Understand Repayment Rights
So even though the loans were guaranteed by the federal government, we were still paying banks billions of dollars to be pass-throughs for the student loan program.
He opened up his now-familiar grab bag of microproposals, including a proposal to forgive student loan interest for those who take a year off from college to work under the auspices of religious groups.
In the 2006 budget-cutting "reconciliation" bill President George W. Bush signed this month, the best known student loan programs for middle-class families--Stafford loans for students and so-called PLUS loans for parents--took a big hit.
So our proposal ensures that Federal Student Loan payments for overburdened borrowers are never more than 10 percent of their income -- a change like that makes a real difference for a kid just out of school.
Too often, students and families face the daunting task of deciding where to enroll, whether to write a check, or whether to sign for a student loan, without a clear explanation of what the costs mean, or how these costs compare to other colleges they are considering.
So millions of students are already paying less for college because of what we did. (Applause.) We took on a system that was wasting billions of taxpayer dollars using banks and lenders as middlemen for the student loan program, and we said why do we need the middlemen?
We also posted a forum for questions about possible changes to income-based student loan repayment, along with a calculator for estimating your payments under the new plan.
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Five years ago, rates for the popular student loan program were lowered to 3.4% from 6.8%.
Democrats blasted Romney for supporting a student loan interest rate extension when he'd previously backed House Budget Committee Chairman Paul Ryan's proposed cuts to the federal Pell Grant program.
Steep increases in college costs are to blame for the student-loan debt burden, and most student loans are now made by the government, says Richard Hunt, president of the Consumer Bankers Association, a private lenders' industry group.
The New York Democrat announced Sunday the Federal Student Loan Refinancing Act, a bill that would lower interest rates for many student borrowers currently repaying their federal student loans.
Tuition.io is a personal finance platform for organizing all your student loan debt in one place.
When the student applies for a loan, he gets an e-mail from the bank with a link to the document on a new web page.
Consequently, a common question for financial experts from student loan holders is whether student loan debt will hurt their credit scores more than other types of debt.
Adding to the the company's difficulties: a number of states, most recently Ohio, have been launching investigations into whether college and university authorities have steered students to student loan companies in exchange for perks.
He made no mention of Mitt Romney, his all-but-certain opponent in November, but took aim at House Republicans who passed a measure last week that would pay for extending the lower student loan rate by cutting from a health care fund that promotes preventive care.
CNN: Obama urges students to pressure Congress on loan rates
That should make repaying student-loan debt more manageable for some families, he said.
WSJ: Third of Student-Loan Debt Belongs to Subprime Borrowers
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