Author: Drew Cloud

Richard Cordray Resigns as Director of CFPB

An old picture of Richard Cordray (center) with couple union leaders.In an e-mail to his co-workers, the director of the Consumer Financial Protection Bureau (CFPB), Richard Cordray, officially announced his plans to leave office by the end of the month.Richard Cordray was among the last government officials to be appointed by the Obama Administration in the banking regulation industry. Although Cordray did not mention anything about his plans, some speculators think he may be a potential candidate for the upcoming Ohio gubernatorial election.His resignation is not a surprise to anyone familiar with the industry. The director of the Consumer...

Read More

Fresh Lawsuits Filed Against Betsy DeVos and Navient Over Student Loan Cancellation

Earlier this week, two student loan borrowers filed a lawsuit against the U.S. Department of Education and the student loan servicer Navient.Tina Carr and Yvette Colon from the Sanford-Brown Institute, a for-profit college in New York, claimed they were defrauded by their education institution. The pair of debtors are looking to have their loans erased. According to their attorneys, the case could become a landmark for the thousands of students seeking loan relief who experienced similar trouble.Originally part of the Career Education Corporation chain of colleges, the Sanford-Brown Institute ended its activities back in 2015, leaving nearly 30,000 students...

Read More

University of Michigan Introduces Free Tuition Policy, Yet Still Struggles with Elitist Label

Pictured above is a building at the University of Michigan, Ann Arbor.“An uncommon education for the common man” has been the rallying cry of the University of Michigan campus and administration for the last 140 years. However, Michigan faces challenges to its “common man” identity in the modern age: elitism.Rising tuition costs and living expenses have put university education out of reach for low-income families like never before, and Michigan’s administration can’t seem to escape their “elitist” label according to an in-depth report from Politico. It has become such a problem that a recent pledge was made, offering free...

Read More

BBC Investigation Uncovers Shady Student Loan Fraud at UK University

A BBC Panorama reporter presented a 10-month-long investigation on student loan fraud involving Plymouth University, a British college in the United Kingdom.The story highlighted how many aspiring students who lacked academic qualification were entering Plymouth University, securing student loans in the process, through “shady education agents.”The investigation revealed dishonest education agents recruiting students to private institutions; the practice opened these students up to taking out student loans who may have been better off without the student debt.The BBC reporters also claimed finding solid evidence of abuse of the student loan system by Greenwich School of Management (GSM), one of...

Read More

Student Loan Debt Per Graduate Overall Rankings 2017

Earlier this year, The Student Loan Report published a report detailing which colleges, broken down by state, graduated students with the least student loan debt on average. This is a follow up on that report, taking a different angle this time around.Instead of looking at individual states, we decided to look at the whole picture, or the whole country.Below, we ranked all of the colleges in the United States according to average student loan debt per graduate, highlighting which colleges offer the more affordable and advantageous programs from a financial viewpoint. Furthermore, we broke the data out according to...

Read More