student loans

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College to Pay Loans for Grads Making Less Than $40K a Year

Keystone College announces new program

(Newser) - If you graduate from Keystone College and your post-grad job pays less than $40,000 a year, the Pennsylvania institution will pay some or all of your student loans, officials announced Tuesday. The Keystone Commitment Loan Repayment Assistance Program will first be available to first-time, full-time freshmen who start at... More »

Aetna Doing Something About Workers' Student Loans

Employees offered up to $10K in matching payments

(Newser) - Competition for talented university graduates appears to be heating up: Health care giant Aetna has become the latest big company trying to woo young workers by offering to help them pay off their mountains of student debt, USA Today reports. Full-time employees who have earned degrees within the last three... More »

Amazon Prime Members Can Now Get Discounted Student Loans

Wells Fargo is partnering with the website

(Newser) - The latest perk for Amazon Prime members: a discounted interest rate for student loans. Specifically, Amazon is teaming with Wells Fargo to offer the loans; the bank will offer a discount of 0.5% to Amazon Prime Student members. Amazon Prime Student is half the cost of a regular Amazon... More »

Aspiring Nun Crowdfunds Her Dream

Alida Taylor raises $22K to pay off her student debt so she can join convent

(Newser) - An aspiring nun who was told she couldn't enter a convent until her student loan debt was paid off has successfully crowdfunded her goal, reports the AP . Alida Taylor, 28, was accepted to join the Sisters of Life in New York City in September. The Clifton, NJ, woman started... More »

Woman Can't Become Nun Till She Dumps $18K Student Loan

Sorry, Alida Taylor—convent rules

(Newser) - A 28-year-old Broadway costume designer recently decided to switch career gears, and it's a big change—she wants to become a nun, CBS News reports. But there's one major roadblock to Alida Taylor's dream to enter the Sisters of Life convent in September that only divine intervention,... More »

Mom Forced to Pay Off Murdered Son's Student Loans

'NYT' takes a close look at New Jersey student loans

(Newser) - Marcia DeOliveira-Longinetti's son, Kevin, was murdered last year in a case that still hasn't been solved. And, as the New York Times reveals in an extensive look at New Jersey's student loan industry completed in cooperation with ProPublica, DeOliveira-Longinetti is not only grieving her son but is... More »

Armed Marshals Bust Man Over Unpaid Student Loan

And they aren't stopping there

(Newser) - Seven armed US Marshals in combat gear showed up on the doorstep of 48-year-old Paul Aker's home Thursday in Houston, the New York Daily News reports. His crime? Failing to pay a $1,500 student loan he received in 1987. "I say, 'What is this all about?'... More »

Extreme Student Debt Solution: Leave the Country

'Vice' writer talks to 'dodgers' who moved to Berlin

(Newser) - It's a sign not only of how bad the student-debt situation is but just how crushing that debt feels to those beneath it: Some young Americans are leaving the country, perhaps for keeps, to escape it, writes Alexander Coggin at Vice . Coggin doesn't have stats, but he's... More »

Claims of Fraud Could Get Student Loans Forgiven

More than 7.5K former students say their colleges defrauded them

(Newser) - Over the past six months, more than 7,500 Americans have applied to have their cumulative $164 million in student loans forgiven, claiming their colleges defrauded them, the Wall Street Journal reports. And as Gawker clarifies: "We are not talking here about the stereotypical 'Oberlin art history major... More »

The 'Million Student March' Is Happening

Protesters want free tuition, student debt forgiveness, and more

(Newser) - Across the country Thursday, students will be walking out of classrooms as part of the "Million Student March." The demonstrations were planned as a protest against student loan debt, with students calling for not only tuition-free education at public colleges and forgiveness of student loans, but also for... More »

How Many Plan to Pay $200K in Grad-School Debt: They Don't

A growing class of borrowers don't intend to pay off 6-figure loans

(Newser) - In 2012 the average medical-school grad owed about $162,000 in student loan debt. But many of these newly minted doctors can, thanks to one government program, pay just a few hundred dollars a month on their loans—in some cases, far less than the interest that's being tacked... More »

Clinton Wants to Throw $350B at Making College Free, Cheap

Candidate's plan would make community college free, 4-year college 'no loan'

(Newser) - As student debt balloons into an issue in the realms of predatory lending , borrowers' mental health , and even the elderly , politicians continue to brainstorm on making college more affordable. Hillary Clinton's solution: a $350 billion proposal whose goals include making community college free, cutting costs to attend four-year public... More »

It's Time to Default on Student Loans

Maybe that'll help change the bungled system: Lee Siegel

(Newser) - Lee Siegel was 17 when he took out his first student loan some 40 years ago to attend a small private liberal arts college. He later transferred to a state college in New Jersey and eventually went on to graduate school, taking out additional loans along the way. Siegel says... More »

Student Debt Hurts Mental Health, Study Suggests

It's the first study to actually look at the link

(Newser) - People have been railing against student loans for a while now, but a new study gives you another reason to complain: Loans, it suggests, can also hurt students' mental health. The study looked at survey responses from nearly 5,000 Americans born between 1980 and 1984, and found that the... More »

We've Overlooked a Major Student-Debt Problem

We fret about undergrads, but grad students are deeply in debt

(Newser) - Undergrads, don't worry too much about the loans you'll be saddled with after college—there's a group that might need to worry even more. Even though the National Center for Education Statistics shows that grad students accounted for just 14% of university enrollees in 2012, the New... More »

Student Debt Driving Elderly Into Poverty

Number with benefits cut to repay loans soars

(Newser) - A soaring number of Americans are facing an old age of poverty because they are still saddled with student debt, according to a Government Accountability Office report released yesterday. The government has the power to slash Social Security or disability benefits to pay off federal student loans, and the number... More »

Many Parents Have to Pay Off Dead Kids' Student Loans

Families often have little legal recourse in these cases

(Newser) - Probably the last thing parents mourning a deceased child want to do is deal with late notices from creditors—especially when those notices are for a student loan taken out by their lost loved one. That's what happened to pastor Steve Mason, who found himself saddled with a $100,... More »

Lawsuits: Firms Scamming Folks WIth Student Loans

Illinois attorney general warns consumers about 'predatory' offers

(Newser) - Debt-settlement companies have long targeted people saddled with mortgages or credit card debt, promising more manageable monthly payments, settlements, or even complete loan forgiveness—but now these companies are targeting individuals bogged down with student loans, reports the New York Times . And these companies' tactics may not be on the... More »

How a Simple Letter Cut Student Borrowing by $31M

'Know before you owe' policy works for Indiana University

(Newser) - With US student debt at a staggering $1.2 trillion—including an average $30K each for member of the class of 2012 —Indiana University has set an example a lot of places could learn from. The seven-campus system managed to slash student debt by far more than the national... More »

Obama Signs Order Capping Student Loan Payments

Payments limited to 10% of monthly income for more people

(Newser) - President Obama today signed an executive order that will cap student loan payments for as many as 5 million borrowers. Obama is extending an existing rule capping student loan payments at 10% of borrowers' monthly income to those who took out their loans prior to 2007, the AP explains. For... More »

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