Student Debt, Delinquencies Skyrocket

By: Wednesday November 28, 2012 10:00 am

The New York Fed released their household credit and debt report yesterday, and they show increases in student loan debt relative to other forms (mortgage, credit card, auto loan and others). To keep this in perspective, mortgage debt represents 71% of all debt, and student debt represents about 8-9%. So there’s still a wide gulf [...]

The Piteous Billionaire: A Ploy to Work the Political Class

By: Monday October 1, 2012 11:57 am

Chrystia Freeland, who has been hanging around billionaires and relaying some of their most embarrassing commentary for a while, does this again for the New Yorker, and basically we hear the same thing we always hear; the fee-fees of the rich and powerful were vewwy vewwy hurt by that mean old Mr. Barack, who called [...]

Republican Increase in Visas to Foreign Graduates at US Schools Comes With Reduction in Other Legal Immigration Programs

By: Thursday September 20, 2012 9:38 am

In one of their last acts before going home to campaign, House Republicans will pass a bill today that would increase the level of high-skill immigrants allowed to stay in the country. It would expand by 55,000 the visas granted to foreign graduates of US colleges and universities in what are known as the STEM [...]

For-Profit Colleges Slammed in Senate Report

By: Monday July 30, 2012 8:15 am

The Senate Committee on Health, Education, Labor and Pensions has delivered a fairly scathing report on for-profit colleges, arguing that they have provided far more benefits for shareholders than the students that matriculate at their institutions. As of 2009, the report said, three-quarters of students in for-profit colleges attended institutions owned either by publicly traded [...]

CFPB Report Lays Bare Private Student Loan Market

By: Friday July 20, 2012 11:05 am

The Consumer Financial Protection Bureau has delivered a report to the Senate Banking Committee on the rise of the private student loan industry. This industry took a hit after 2010, when the Affordable Care Act included a provision that ended the practice of private banks administering student loans guaranteed by the government, and just had [...]

More Indications of Rising Student Debt

By: Monday July 16, 2012 1:32 pm

Sallie Mae, the private student loan company, finds in a survey the unsurprising information that students are bearing more and more of the burden of higher education costs. While wages have largely stagnated over the past decade, college and university costs have soared. So there’s simply no other way this could go. In its annual [...]

In Bipartisan Deal, Congress to Package Student Loan, Transportation, Flood Insurance Bills

By: Thursday June 28, 2012 6:15 am

As we await the Supreme Court ruling on health care, two of the other major stories of the week have reached a conclusion. Congress has reached agreement on a compromise package that will avert three separate deadlines and deliver some of the more robust lawmaking of the entire year to date. The first bill averts [...]

Decision Time Nears for Student Loan, Highway Bills

By: Friday June 22, 2012 9:35 am

I’ve been tracking the two deadlines for Congress coming up in just over a week. If no action is taken, new federal student loans will see an interest rate of 6.8%, double the current 3.4%. And there will be no surface transportation bill, meaning that highway projects with federal participation will grind to a halt [...]

House GOP Offers Self-Serving Student Loan Interest Rate Counter-Proposal

By: Friday June 1, 2012 10:17 am

Perhaps sensitive about a looming doubling of student loan interest rates, and reports of their indifference to the plight, House Republicans sent a letter to the President with a new proposal for how to structure an extension of the existing rates. Everyone agrees – in public, at least – that interest rates on Stafford federal [...]

Our Unsustainable Higher Education System

By: Monday May 14, 2012 10:19 am

In my story on California’s budget woes, I mentioned a study showing that more qualified high school graduates are choosing not to attend college because they are priced out of the market for higher education. I should add that the ones who do choose to matriculate end up with a pile of debt after the [...]

Democrats Search for Solution to Avoid Doubling of Student Loan Interest Rates

By: Wednesday April 4, 2012 8:15 am

Leading Democrats and the White House have taken note of the threat of a doubling of the student loan interest rate by June 30 (from 3.4% to 6.8%), and are working on steps to prevent it. However, they have to contend with a stingy House GOP that isn’t interested in finding the $6 billion or [...]

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