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July 24, 2008 8:58:53 AM CDT

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Stories related to: student loans

Stories

15 Stories

  • July 2008

    • Credit Crunch Squeezes Student Loans

      newser  |  Boston Globe  |  Jul 23, 08 3:04 PM CDT

      Credit Crunch Squeezes Student Loans

      The slump in the credit markets has shrunk capital available to brokers of student loans, complicating the already-difficult task of financing a college education. The Boston Globe relates the story of one Massachusetts family, the Ferragutos, who received word this year from the state’s education finance agency informing them that federal loans, including low-interest Stafford loans, were no longer available. More »

      Tags

      credit crisis  • college  • credit market  • student loans  • college tuition  • private lenders  • Stafford loan

  • June 2008

    • Banks Cut Colleges Eligible for Student Loans

      newser  |  New York Times  |  Jun 2, 08 8:09 AM CDT

      Banks Cut Colleges Eligible for Student Loans

      Students at 2-year and some less competitive 4-year colleges will be having a tougher time finding loans as banks trim the list of colleges they serve, reports the New York Times . In a move that potentially shuts out some of the neediest students, Citibank, JPMorgan, PNC, and SunTrust all say they have cut back their eligible institutions, focusing on upper-tier schools whose students generally borrow more and default less. More »

      Tags

      JPMorgan Chase  • student loans  • Wells Fargo  • credit market chaos  • Sallie Mae  • Citibank

  • February 2008

    • Fannie Mae Loses Billions in Q4

      newser  |  Wall Street Journal  |  Feb 27, 08 10:48 AM CST

      Fannie Mae Loses Billions in Q4

      Fannie Mae reported huge fourth-quarter losses today, painting an ugly picture both of the economy and the mortgage giant's own future. The company lost $3.56 billion—triple what analysts expected, Bloomberg reports. Derivatives were the big culprit, accounting for $3.33 billion in losses, but the company also reported spikes in late payments and delinquencies. More »

    • Credit Crunch Extends to Student Loans

      newser  |  Wall Street Journal  |  Feb 13, 08 8:27 AM CST

      Credit Crunch Extends to Student Loans

      A huge new group of borrowers—from students to museums to local governments—are about to find their credit drying up, as the subprime meltdown that has already cost banks $100 billion continues to spread, reports the Wall Street Journal.   In the last few days, investors have backed away from buying something called auction-rate bonds, which in turn caused the Michigan's student loan authority to stop making loans yesterday. More »

      Tags

      subprime crisis  • credit market  • borrowers  • student loans  • Carnegie Mellon University

  • January 2008
  • October 2007
  • September 2007

    • $25B Sallie Mae Buyout on the Rocks

      newser  |  Wall Street Journal  |  Sep 27, 07 9:52 AM CDT

      $25B Sallie Mae Buyout on the Rocks

      Sallie Mae doesn’t look like such a bargain at $25 billion anymore, and J.C. Flowers & Co. is trying to renegotiate—or escape—its deal to acquire the student lender, citing the credit market implosion and legislation to reform student loan practices. It’s the kind of deal once considered unbreakable, the Wall Street Journal says, but private equity is in disarray. More »

      Tags

      private equity  • credit market  • student loans  • private equity firms  • Sallie Mae  • JC Flowers and Co

    • Job Market Shrinks for Lawyers

      newser  |  Wall Street Journal  |  Sep 24, 07 1:10 PM CDT

      Job Market Shrinks for Lawyers

      Lawyers are entering the work force in record numbers, but demand—and salaries—aren't keeping up. Law schools advertise six-figure starting salaries for grads, but these wages materialize only for those from elite schools or at the top of their class, the Wall Street Journal reports. For the rest, $20-an-hour contract work may be the best they'll get. More »

      Tags

      education  • lawyer  • salary  • student loans  • law school  • salary gap

    • Congress Delivers Loan Relief for Needy Students

      newser  |  New York Times  |  Sep 8, 07 4:00 AM CDT

      Congress Delivers Loan Relief for Needy Students

      Congress yesterday passed a student loan reform bill that slashes billions of dollars from lender subsidies and redirects the funds into grants for low-income students, the New York Times reports. The sweeping measure will cut $20B from federal lender subsidies, halve the interest rate on need-based loans, and pump $12B into Pell grants for needy students. More »

      Tags

      Congress  • Ted Kennedy  • student  • loans  • student loans

  • August 2007

    • NCAA Records Sought in Payola Probe

      newser  |  USA Today  |  Aug 3, 07 5:23 AM CDT

      NCAA Records Sought in Payola Probe

      New York's attorney general has demanded records of 40 NCAA athletic departments from  Georgetown and UCLA to discover if students were illegally steered to a particular college loan provider for kickbacks. Several of the Division I schools have links on their websites to a company that officials suspect is offering payments or perks to referring departments, reports USA Today . More »

      Tags

      NCAA  • New York  • student loans  • UCLA  • Andrew Cuomo  • Auburn  • Georgetown

  • July 2007

    • House Votes to Overhaul Student Loans

      newser  |  New York Times  |  Jul 12, 07 6:10 AM CDT

      House Votes to Overhaul Student Loans

      The House OKed a major shakeup of student loans yesterday, in a plan that will eliminate $19 billion in subsidies to lending companies and send the cash directly to students. The bill will increase funding for Pell grants and cut the interest rates on all federally-funded loans—assuming it survives a veto threat from the White House. More »

      Tags

      education  • college  • college student  • higher education  • loans  • student loans

  • June 2007

    • U Chicago Receives $100 Mil Gift

      newser  |  Chicago Tribune  |  Jun 1, 07 9:00 AM CDT

      U Chicago Receives $100 Mil Gift

      An anonymous donor has pledged the largest gift ever—$100 million—to the University of Chicago. The gift's purpose is to eliminate student loans for undergraduates from low-income families. The donor came from a family of modest means and has, quite obviously, done well for himself . The university identified the donor only as a man.  More »

      Tags

      Chicago  • donation  • University of Chicago  • student loans  • big gifts

  • May 2007

    • Sallie Mae Chief Quits

      newser  |  Wall Street Journal  |  May 23, 07 5:52 AM CDT

      Sallie Mae Chief Quits

      The CEO of student loan giant Sallie Mae resigned unexpectedly yesterday in the midst of a $25 billion buyout by a private equity firm. The Wall Street Journal reports that Thomas J. Fitzpatrick was pressured out to stave off Congressional criticism of the buyout by J.C. Flowers and Co, which is taking the company private. The lender's CFO will take his place. More »

      Tags

      acquisitions  • private equity  • merger  • student  • loans  • student loans  • Sallie Mae

    • Bush Officials Killed Proposal For Student Loan Reform

      newser  |  Washington Post  |  May 1, 07 11:25 AM CDT

      Bush Officials Killed Proposal For Student Loan Reform

      Bush officials killed a proposal to clamp down on sleazy practices in the student loan industry in 2001, the Washington Post reports. The proposals, drafted under Clinton and circulated to the Bush team, was aimed at curbing the kind of abuses now being investigated, in which loan companies pay universities to help get students' business. More »

      Tags

      money  • college  • student  • university  • reform  • student loans  • Department of Education

  • April 2007

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