US News & World Report notes that the number of people taking the GREs has dropped from 633,000 last year to between 621,000 – 625,000 this year. What’s interesting about this is that ordinarily, an economic downturn is accompanied by a rise in graduate school applications. The article mentions several reasons why things might be [...]
Archive for the ‘News’ Category
Fewer Taking GREs
Posted in News, tagged economic downturn, graduate school, GREs, student loans, US News & World Report on December 8, 2008 | Leave a Comment »
Going to College – A Pipe Dream?
Posted in News, tagged National Center for Public Policy and Higher Education, New York Times, student loans, tuition costs on December 3, 2008 | Leave a Comment »
The National Center for Public Policy and Higher Education has released its latest report on the cost of a college education, and the results, unsurprisingly, are grim. According to the New York Times, the report notes that tuition has risen 439% since 1982 while family income has only increased by 147%. Additionally, “Student borrowing has [...]
Student Loan Defaults on the Rise – Let’s go to Vegas!
Posted in News, Policy, tagged bail out, bankruptcy, consolidation, credit crunch, default, deferment, forebearance, interest, moratorium, refinancing, Sallie Mae, student loans, Vegas, wall street journal on December 1, 2008 | 1 Comment »
After remaining relatively stable for several years, the student loan default rate is now on the rise. The Wall Street Journal reports today that the downturn in the economy, especially the credit crunch, is forcing more student loan borrowers into default and the numbers could rise even further:
The fear is that default rates on student loans will [...]
Sallie Mae to Open a New Branch in Delaware
Posted in News, tagged collection agencies, Premiere Credit, Sallie Mae, student loans on November 22, 2008 | Leave a Comment »
Sallie Mae is the latest student loan lender/collection agency to expand operations; MarketWatch.com reports that Sallie Mae has announced plans for a new credit center that will create about 1100 jobs. Premiere Credit, which specializes in collecting on delinquent loans, also recently announced plans to open a new location, expected to create 300 jobs.
It’s hard not [...]
Houston Church Leaders Charged with Student Loan Fraud
Posted in News, tagged Eric Washington, Fishers of Men Worship Center, fraud, News, Sheila Washington, student loans, Texas on November 22, 2008 | Leave a Comment »
Eric and Sheila Washington, pastors of Texas church Fishers of Men Worhsip Center, along with the church’s secretary and treasurer, have been charged by federal prosecutors with student loan fraud. From KHOU.com:
Prosecutors claim the accused would recruit church members who were students, file for student loans in their names and pocket the cash.
They are also accused [...]
South Carolina’s Largest Student Loan Lender to Quit Lending
Posted in News, tagged News, south carolina student loan corporation on November 22, 2008 | Leave a Comment »
The South Carolina Student Loan Corporation, the largest lender in that state, has announced that it will stop making private loans. In the current year, about 12,000 students rely on those loans to fund their education.
Barack Obama Talks Student Loans with a Real Live Student!
Posted in News, tagged community college, Financial Aid Finder, Marilyn Pace, Obama, student loans on November 18, 2008 | 1 Comment »
There is an excellent video clip on YouTube that shows Obama talking to a Wayne Community College student and her financial officer about her loan debt. Apparently, this is from this past June, but I didn’t come across it until today (thanks to Financial Aid Finder), and I thought it was worth posting.
At one point [...]
Bankruptcies on the Rise…But Student Loans Still Not in the Mix
Posted in News, Policy, tagged bankruptcy, credit crunch, economic crisis, New York Times, News, student loans on November 16, 2008 | 1 Comment »
The New York Times reports that bankruptcies rose nearly 8% between September and October, due to the ongoing economic crisis, particularly dropping home values and the credit crunch. Over 100,000 filings were made in October, the first time the number has gotten that high since the new, harsher bankruptcy law was passed in 2005. Additionally, [...]
Hunt and Powell out as Secretary of Education?
Posted in News, tagged bill richardson, Colin Powell, hillary clinton, jim hunt, News, Obama, Secretary of Education, secretary of state on November 16, 2008 | Leave a Comment »
Amid speculation that Hillary Clinton and Bill Richardson are on Obama’s shortlist for Secretary of State, news about who will be the next Secretary of Education has taken a back seat. Still, a few updates:
First, Jim Hunt, former North Carolina governor declared last week that he is out of the running. From Hunt, who has worked on [...]
