11
May
Big Banks Want More of Your Credit Card Business

Big banks in the U.S. are making a strong push into the credit card industry. With outstanding credit card debt on the rise, credit card companies stand to make a lot of money from borrowers who are often paying high interest rates and cash advance fees. In particular, Goldman Sachs Group Inc. and Wells Fargo & […]

Posted in: Credit Card News,
10
May
Doctors with Student Loan Debt Can Land Special Mortgages

More and more banks are now offering a unique type of mortgage for doctors that are unable to find a traditional loan. Given their often high student loan balances, doctors can have a hard time qualifying for home mortgages. To combat the issue experienced by this group, some companies offer home mortgages targeted directly at new […]

Posted in: National News, Student Loan News,
08
May
Department of Education Cancels Two Debt Collection Contracts

Last week, the Department of Education filed a claim in federal court saying it would cancel debt collection contracts previously offered to Windham Professionals Inc. and Performant Financial Corp. This decision was announced shortly after it was revealed that Education Secretary Betsy DeVos previously had financial ties to Performant Financial Corp, The Washington Post r

Posted in: Industry News, Student Loan News,
08
May
Businessman Offers to Send An Entire Senior Class to College for Free

A Minnesota businessman is sending nearly half of the senior class of Rush City High School to college for free this fall. Dennis Frandsen offered to pay for the entire senior class to attend Pine Technical and Community College’s two-year program. He also plans to donate $1,000 per student toward textbooks and supplies, local NBC […]

Posted in: Student Loan News,
07
May
Interest Rates Stay Steady, But Possible Rate Hike in June

On May 2, the Federal Reserve opted to hold interest rates at their current level instead of increasing them. The Fed expects a recent upswing in inflation to hold steady and will help increase borrowing costs come June.What the Increase in Inflation MeansWhile the Fed acknowledged inflation was increasing, it didn’t appear concerned about what […]

Posted in: Financial News,
07
May
Survey Finds That Most Teens Aren’t Prepared to Pay for College

A new survey shows that while many students are academically prepared to attend college, most don’t understand how to manage the financial responsibilities that come along with it. And this is in spite of seeking the advice of high school guidance counselors, family members, and friends.While it isn’t shocking, it’s yet another reminder of the […]

Posted in: National News, Student Loan News,
04
May
Student Loan Debt Sidelines Graduate Plans, Report Finds

A new report reminds the United States about the impact of student loan debt on students who received their college diplomas during the Great Recession.The report was compiled by nonprofit research firm RTI International for the National Center for Education Statistics, a federal entity responsible for gathering and analyzing data about education. Specifically, the most [&

Posted in: National News, Student Loan News,
04
May
Report Highlights Climbing Auto Loan Rates

Interest rates on new vehicle loans in April continued at higher levels not seen since 2009. The annual percentage rate (APR) on new financed vehicles averaged 5.6 percent, according to data by Edmunds, a vehicle information and shopping platform.This represents the third consecutive month that rates have jumped above 5 percent. It noticeably exceeds a […]

Posted in: Auto Loan News,
03
May
Differences Between Federal and Private Student Loans

Figuring out how you’re going to pay for college? Congratulations – making it to this point is an accomplishment in and of itself. The fact that you are getting prepared for the financial questions of higher education means that you’re serious about your future.Unfortunately, most of you will get hit with a massive reality check […]

Posted in: Student Loans,
03
May
Private College Tuition Discounts Reach an All-Time High

The National Association of College and University Business Officers (NACUBO) recently conducted a survey of the tuition rates at private nonprofit colleges. Students hoping to attend a private university may be in luck; grant aid for first-time freshman students is at an all-time high, according to the survey.The average amount of grant financial aid that […]

Posted in: National News, Student Loan News,