Hoping to quell the student loan crisis, the government last month passed legislation that allows the Department of Education to buy out loans from lenders. This frees up funds for many lenders so they can continue making loans. While this is a short-term solution (the buy-out runs through July 2009), some say it will help students get the funding they need for this year. Find out how this new move could affect your loans.
Why college students are busier than ever
College students these days are busy with much more than term papers – to get an edge in the job market once they graduate, many are taking on an internship or two while in school. Are they driven to succeed or missing out on the college experience?
There’s a new way to look for loans
In the wake of the student loan crunch, a new trend has hit the market – reaching out to friends and family for a loan. GreenNote, which launched in June, is just another site that links borrowers and lenders, offering people the option of borrowing from ordinary folk they know, who in turn get a return on their investment.
How student debt is leading to doctor shortage
With rising loan debt, more and more medical students are opting for specialties and shunning primary care, says the Detroit News. But does this spell disaster for the future of health care?
Looking for career and grad school advice?
Check out the Brazen Careerist blog. It’s an online community and career resource designed for Generation Y. While it also features a potpourri of topics, their article on dealing with grad school debt is what won us over.
How your loans are changing
There’s been a lot of back and forth about what’s going to happen to student loans lately. Who will have to pay more and who’ll get a great deal? Find out more.
[Ramen moderator
We want to correct a couple of inaccuracies in the Street article:
“Two years ago, Congress changed the student-loan program from a variable-rate deal based on Treasury bill rates to a fixed rate program at 6.5%.” The rate is actually 6.8%.
“There is some good news for current borrowers. Rates on subsidized Stafford loans taken out after July 1 will carry a fixed rate of only 6% for the life of the loan.” This applies to undergrads only.]
The loan forgiveness program debate
Is the federal public service loan forgiveness program, which is set to start in July 2009, a good option for those who qualify? Not everyone agrees.
Plot your escape
Term papers, deodorant-challenged roommates, student loan debt – a lot of things can keep a student up at night. Now that summer’s here, how are you planning to escape from college reality, at least until next semester?