Tagged with student loans

Senate Deal Would Freeze Student-Loan Rates For Year

More than 7 million college students could be spared higher loan rates under a deal reached Tuesday by Senate leaders. The agreement would freeze the interest rate for a year, preventing it from doubling from 3.4 percent to 6.8 percent on July 1, making college more affordable for students as tuition costs are rising. Although leaders in both parties said … Continue reading

The Ph.D. Now Comes With Food Stamps

“I am not a welfare queen,” says Melissa Bruninga-Matteau. That’s how she feels compelled to start a conversation about how she, a white woman with a Ph.D. in medieval history and an adjunct professor, came to rely on food stamps and Medicaid. Ms. Bruninga-Matteau, a 43-year-old single mother who teaches two humanities courses at Yavapai … Continue reading

Vice President Biden Weighs in on Student Loan Issue

Casting the issue as both a matter of middle-class prosperity and national security, Vice President Joe Biden challenged young people Thursday to push Congress to act to prevent student loan interest rates from doubling this summer. “It’s all about restoring the dream of the middle class,” Biden said at an event titled “White House Briefing on … Continue reading

Is Congress Going to Double the Interest on Your Student Loan?

Unless Congress acts soon, millions of college students could see the interest rate on their federal student loans double this summer—adding $5,000 to the cost of an education for students who pay off their loans in 10 years, and around $11,000 over 20 years. Yet Republicans are claiming that keeping those rates low costs too much and … Continue reading

Arne on the Income-Based Repayment Program and Community Colleges

Arne took time last week to answer a couple of questions he received on his Facebook page. Daniel had a question on the Income-Based Repayment (IBR) program and the President’s recent pay-as-you-earn proposal. Secretary Duncan encouraged Daniel and others with student loans to look at switching to the current IBR program. “Depending on your income, you … Continue reading

Default Rates Rise for Federal Student Loans

The U.S. Department of Education today released the official FY 2009 national student loan cohort default rate, which has risen to 8.8 percent, up from 7.0 percent in FY 2008. The cohort default rates increased for all sectors: from 6.0 percent to 7.2 percent for public institutions, from 4.0 percent to 4.6 percent for private … Continue reading