or didn’t get enough, or at a high interest rate? Clinton tried to prevent the student loan industry scandal that has screwed thousands of students, but Bush came in and killed the fix. Thanks again Republicans!
Warnings On Student Lenders Unheeded
The Bush administration killed a proposal to clamp down on the student loan industry six years ago following allegations that companies sought to shower universities with financial favors to help generate business, according to documents and interviews with government officials.
The proposed policy, which Education Department officials drafted near the end of the Clinton presidency and circulated at the start of the Bush administration, represented an early, significant but ultimately abortive government response to a problem that this year has grown into a major controversy.
What is the average interest rate for consolidated student loan interest?
I have consolidated my subsidized and unsubsidized loans through Student Xpress, however, the interest rate is currently 7.25% which people have been telling me it is too high. One of my friend who consolidated through Nelnet, says her interest rate was 5.5% or so. Will I be able to switch already consolidated loans from one company to another?
Check it out here. It’s an excellent site with some wonderful options for you. It will definitely help you. Have a look.
How many of you are indentured by a federal student loan?
I would like to hear your experiences with your student loan, federal or private, and to what extent it had burdened and reduced your financial well-being since leaving college. I am paying my way out of default right now, but I am still looking at several years of debt imprisonment. Please, no right-wing rhetoric about helping america by paying my debts, which is not the point here at all. The student loan system is a scam, as bad as any pyramid scheme, and i am convinced many of you feel the same…or do you?
People, re-read the question. I was NOT looking for a student loan company, at all.
I have student loans of 30k total. However, I majored in something that’s actually in demand and well paying, so I will have my loans paid off in 4 years at the rate I am going, instead of 12 years because I make 50k a year starting pay, will increase to 65 to 70k. The people who take on 50k+ then major in sociology, art, english, and the like or choose to go to the expensive private schools instead of the state ones are the stupid ones, its not the federal governments fault that they decided wrong. There is NOTHING wrong with taking student loans when you make the right choices (choosing a low cost school and majoring in something that’s in demand), they have helped me so much to accomplish my goal.
The Government Student Loan Consolidation and Tuition Assistance resource was started as a place for parents and college age students to visit and explore the different student loan options for College.
If you are a loan provider or just know your way around the college student loan industry , please feel free to contact us and submit information or articles for distribution on the site.
