Wednesday, April 11, 2012

Student loan debt

  • On Tuesday, U.S. Rep. Hansen Clarke (D-Mich.) joined students from a classroom in Detroit to discuss his plan to ease student loan debt.
  • (Huffington Post)
  • Possible consequences for defaulting on a federal student loan: » The government can seize up to 15 percent of your wages or Social Security benefits. » The government can intercept state income tax refunds or lottery winnings.
  • (Post-Crescent)
  • Kevin Wanek was one semester away from graduation at Western State College of Colorado in 2010 when he found himself in a bind.
  • (Businessweek)
  • Back in 1965, in the days of the Great Society, when all things seemed possible with enough federal money, the government began underwriting student loans.
  • (Evansville Courier-Press)
  • Come graduation time next month, there will be many grandparents - many with student loans themselves - sitting at the ceremonies for their grandchildren, who will leave college with their own education loans.
  • (Record)
  • Graduates in 2010 who borrowed had an average of $29,058 in student loan debt - the fourth-highest in the country, according to the Project on Student Debt.
  • (Pioneer Press)
  • Sen. Dick Durbin (D-Ill.) is collecting stories about crushing student loan debt as part of his push to reform lending laws, but few law school students have shared their woes.
  • (The BLT: Blog of Legal Times)
  • Student loans are now the largest source of unsecured consumer debt in the nation, according to the Consumer Financial Protection Bureau, and rising delinquency rates have spurred speculation about a possible bubble.
  • (Bloomberg)
  • In her 20s, Connie Swain shelled out a lot of money to a private vocational school to learn computer skills, relying on student loans for tuition and expenses. I was young and didnt really have a sense of how to do things, said Swain, now 44.
  • (San Francisco Gate)

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