“The student loan proposal announced by the President today could not come at a better time, as the weak economy and high unemployment are making it harder than ever for people to make monthly payments on their student loans."
More infoYesterday the U.S. Department of Education released a preview of college “cohort default rates” for federal student loans using a more robust methodology that will take effect in 2011.
More infoDespite the availability of federal money, many students rely on private loans from banks. According to TICAS's Project on Student Debt, the proportion of undergrads who took out such loans jumped from 5 percent in 2003–04 to 14 percent in 2007–08.
More infoStarting July 1, borrowers will have a new option: a repayment program that caps monthly payments based on income. It targets borrowers who would have a hard time paying basic living expenses if they had to make standard monthly payments on their loans, says Lauren Asher, acting president for the Project on Student Debt.
More info"Late last month, Penn president Amy Gutmann and the the university board sent a clear and powerful message to high school graduates from lower-income families:You can afford to go to college."
When student loans are the only way to pay for college, who decides how much debt a degree is worth? This paper explores how debt aversion and conflicting views about the role of student loans affect young people, their families, and those who advise them.
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