University Of Chicago To End Use Of Student Loans

Oct 2, 2014 by External Resource

CHICAGO (AP) — As selective colleges try to increase economic diversity among their undergraduates, the University of Chicago announced Wednesday that it’s embarking on an unusual effort to enroll more low-income students, including the elimination of loans in its aid packages.

What’s more, the elite school will no longer expect financial-aid students to hold jobs during the school year and application fees will be waived for families seeking aid. The initiative includes scholarships, career guidance and a guarantee of paid summer internships, officials said as they announced the No Barriers program. The university will offer more than 100 workshops across the nation to demystify the admissions and financial aid process.

“We want to ensure that students of high ability can aspire to join this community without financial worry, and with comprehensive support for their success both in the College and beyond graduation,” University of Chicago President Robert Zimmer said in a statement.

via University Of Chicago Draws Up Plan To End Use Of Student Loans.

Senator introduces new legislation to further reduce student loans for government workers

Sen. Richard Blumenthal (D-Conn.) proposed legislation Wednesday to would make it easier for government workers to get their student loans forgiven.

“Teachers, police officers, public health workers and other public servants should be applauded and supported—and not drowned in debt to pay for the degrees many such jobs require,” Blumenthal said in a release. “The current Public Service Loan Forgiveness program should be expanded—and made more flexible—to enable student debt to be worked down or off completely.”

Read more at http://redalertpolitics.com/2014/09/25/senator-introduces-new-legislation-reduce-student-loans-government-workers/#aDiBTfmq3t1qmZfx.99

Contact www.studentloanhelpdirect.com

Bill Addresses Student Loan Debt

U.S. Rep. Rodney Davis (R-Illinois) has introduced legislation, the Employer Participation in Refinancing Act, to help individuals pay down their student loans. 

The legislation would provide a new tool to help employers recruit and retain employees by allowing them to help qualified employees repay student loans with pre-tax dollars.

“Seven in ten college seniors last year graduated with student loan debt — which now represents the second-highest form of consumer debt,” Davis said. “The Employer Participation in Refinancing Act encourages employers to be part of the solution by allowing them to offer an employee benefit that will help graduates pay down their student debt. With outstanding student loan debt totaling more than $1 trillion, we must find ways to engage the private sector and help graduates manage their debt.”

- See more at: http://advantagenews.com/news/bill-addresses-student-loan-debt/#sthash.DcYGAKl1.dpuf


For student loan relief contact www.studentloanhelpdirect.com

Student Loan Default Rate Drops 7 Percent in One Year per DOE

The number of borrowers who have defaulted on their student loans has declined for the first time in several years, the Department of Education announced Wednesday.

Nationally, the default rate has declined to 13.7 percent for borrowers who entered repayment in 2011, a nearly 7 percent decrease from 14.7 percent for those who entered repayment in 2010. The drop also occurred in all sectors of higher education institutions – public, private and for-profit colleges – despite the fact that 650,000 more students entered repayment.

Read More On U.S. News

Get out of default! Contact us at www.studentloanhelpdirect.com

New GEAR UP Grants Awarded

U. S. Secretary of Education Arne Duncan today announced the award of $82 million for 41 grants underGaining Early Awareness and Readiness for Undergraduate Programs (GEAR UP) that will help 116,000 at-risk students to prepare for college and receive the support they need to achieve success in postsecondary education.

Secretary Duncan announced the grantees in New York City at the launch of American Graduate Day, a public awareness and community engagement program to celebrate the work of individuals and groups across the country who are helping students stay on track to college and career successes.

“GEAR UP partnerships and state grants are inspiring examples of communities taking a stand for excellence and equity in education, investing in student success, and creating a culture that helps all young people achieve,” Secretary Duncan said. “I commend all the recipients for their relentless efforts to help students realize their potential through college readiness, access and completion.”

Two types of grants are being awarded: $51,420,120 for 31 partnership grants in 19 states, and $31,264,008 for 10 state grants to Alabama, Iowa, Maine, Maryland, New York, Ohio, Oregon, Pennsylvania, Virginia and West Virginia.

Both state and partnership awards are competitive, six or seven-year matching grant programs that target entire grades of students, partner with local organizations and businesses, and include matching local contributions and in-kind services. Grantees serve an entire group of students, usually beginning no later than seventh-grade, and follow them throughout high school.

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FOR FEDERAL STUDENT LOAN REPAYMENT PROGRAMS CALL 855-878-8336

Fitch: Student Loan Loosening Positive for US Colleges

Looser lending standards for Federal Parent Loan for Undergraduate Students (PLUS) loans could boost enrollment and related revenues at many colleges and universities in the 2015-2016 academic year, Fitch Ratings says.

We believe the political discussion surrounding the PLUS loans underscored the importance that regulatory changes could have on the colleges and universities. In our view, schools with a significant number of students that rely on federal financial aid could see student demand negatively affected if federal funds are reduced. Conversely, should proposed changes like this be adopted, student access may be enhanced.

Read more on Street Insider

For Federal Student Loan Help Call 855-878-8336

African Americans Have More Student Loan Debt

The student debt burden falls heavier on black college graduates than students of other races, a new survey finds. 

Half of black college students who graduated between 2000 and 2014 left school with more than $25,000 in student loan debt, compared to just 34 percent of white students who graduated during the same time,according to a new Gallup poll. The disparity points to a large borrowing gap between the races, despite the fact that more black students now come from college-educated families – and presumably families with higher earning power. 

Read more on US News

Find out about repayment programs, Call 855-878-8336