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NEWS ABOUT: college loans

Student Borrowing Soars 25% to Record Levels

Students' fed loans jump 25% from previous year

(Newser) - Some two-thirds of students borrow for college today, and they’re borrowing more than ever: For the 2008-2009 school year, the federal government loaned students $75.1 billion—25% more than the year before. That’s the biggest increase on record, the Wall Street Journal reports. The trend has troubling... More »

Obama Kicks Off Radical College Aid Revamp

The administration's goals are both ambitious and controversial

(Newser) - President Obama’s education proposals have taken a backseat to the economy and health care, but the changes he proposes in student lending are about to ignite a fierce lobbying battle, the Washington Post reports. Obama’s plan to move all federal funds for student lending to the Department of... More »

Dear Mom, Dad: Please Send Bailout

Parents face tough choices as debt-ridden kids struggle to find work

(Newser) - The families of many debt-laden college graduates are pondering bailouts of their own as the job market sours, the Wall Street Journal reports. With the average student loan now $22,000, parents of some struggling grads face a tough choice—to let their kids learn a lesson about credit the... More »

More Lenders Dropping Student Loans

Some 900,000 students scrambling for alternate ways to pay tuition this fall

(Newser) - Continuing turmoil in credit markets has prompted more private lenders to cut back or eliminate education loans, leaving thousands of student borrowers without the cash they need for college, reports the Wall Street Journal. Last week Wachovia joined more than 2 dozen banks that have cut funds available to students,... More »

Credit Crunch Extends to Student Loans

Investors balk on bonds key to students, museums, cities

(Newser) - 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... More »

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