student loans news stories on Newser

Debt, Schmebt: Loans Not Even on Students' Radar

Kevin Spak — Thu, 17 May 2012 13:24:09 CDT

Many students are utterly clueless about how much student loan debt they have, a new Iowa State University study suggests. The study, conducted by ISU faculty on ISU students, found that 40% underestimated how in debt they were, and 1 in 8 didn't even realize they had loans at all,...

Debt Collector on Student Loans Made $454K in a Year

John Johnson — Tue, 15 May 2012 17:57:05 CDT

The growing number of ex-students overwhelmed with student-loan debt might want to consider an apropos career switch—to become a collector of overdue student loans. Sadly, it's no joke. As Bloomberg explains, one such collector made $454,000 in a single year, most of it in bonuses for getting people...

Student Loans Cripple Entire Generation

Neal Colgrass — Sun, 13 May 2012 14:57:32 CDT

Wannabe college students have a lot to prepare for: all-night study binges, grueling exams, and the three jobs they'll need to pay off their crippling student debt. What's worse, that financial burden is only growing, the New York Times reports. Today, just 38% of the nation's $1 trillion student loan...

Student Loan Rate Hike Is Overhyped

Kevin Spak — Thu, 10 May 2012 11:33:58 CDT

Congress is up in arms over how to keep rates on Stafford student loans from doubling in July, but Mark Kantrowitz and Lynn Shaughgnessy have a question: Who cares? "The partisan posturing is a distraction from far more pressing issues that face students," the college experts write in the New...

Bill to Lower Student Loan Rates Fails in Senate

Kevin Spak — Tue, 08 May 2012 13:25:04 CDT

Hope your federal student loans are paid off, kids, because Washington appears deadlocked over legislation that would prevent their rates from doubling this July. A Senate bill to do so failed in a 52-45 vote along party lines today, failing to get the 60 votes needed to avoid a filibuster,...

House OKs Student Loan Bill, Ignores Veto Threat

Fri, 27 Apr 2012 18:01:46 CDT

Republicans defied a veto threat as the House voted today to prevent federal loan costs from doubling for millions of college students. The vote gave the GOP a momentary election-year triumph on a bill that has become enmeshed in partisan battles over the economy, women's issues, and President Obama's health...

Obama Slow-Jams the News on Fallon

Rob Quinn — Wed, 25 Apr 2012 07:00:00 CDT

As Mitt Romney celebrated his five-state sweep, President Obama was on Late Night With Jimmy Fallon making a play for young voters. The president took part in one of Fallon's signature bits, "slow-jamming" the news as house band The Roots laid down a groove, Entertainment Weekly reports. "Now is not...

Pay Off Student Loans ... by Spending More

Evann Gastaldo — Sun, 08 Apr 2012 10:59:09 CDT

Struggling with student loan debt? The SmarterBank Visa debit card can help you pay it off … by spending more money on other stuff. The card, launched by student loan comparison company SimpleTuition.com, offers rewards from 0.5% (for purchases under $100) to 1% (for purchases over $100), which...

Seniors Still Owe $36B in Student Loans

Mark Russell — Mon, 02 Apr 2012 07:54:35 CDT

America's student debt woes are battering a surprising demographic: seniors. In fact, Americans 60 years of age and older still owe $36 billion in student loans—and more than 10% of those loans are delinquent, reports the Washington Post . All told, seniors account for 4.8% of $85 billion of...