Author: Drew Cloud

Beauty School Loans Lawsuit Reaches U.S. Appeals Court

A lawsuit dating back to the 90s has recently been brought back up to the U.S. Court of Appeals; the case involves unlawful student loans that were disbursed to students attending a beauty school chain. To provide some background, Wilfred American Education Corp began disbursing loans to students interested in attending a trade school chain known as Wilfred Academy.  These loans were disbursed between 1986 and 1994; overall, they dispersed over 60,000 loans while becoming eligible for over $400 million dollars in federal student aid. They targeted low income people as well as immigrants who technically were not eligible...

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Federal Interest Rates Lowered for 2016-2017 Academic Year

  There has finally been some good news when it comes to student loans.  The federal government is going to drop interest rates to the lowest they have been ever.   For those who are planning on taking out a loan for college during the academic year of 2016 to 2017, interest rates will be set at 3.76% which is a considerable drop from last year.  The interest rate from the previous year was set at 4.29%.  For the loans taken out by parents of students, interest rates are lowered to 6.31% compared to 6.84% from the previous year. ...

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Senator Warren Speaks Out Against Navient

Elizabeth Warren, a Democratic Senator from Massachusetts, has reportedly made claims that the Department of Education student loan servicer is spending irresponsibly by focusing on lobbying instead of the debt owed to the federal government. Spending irresponsibly is one thing, but when it involves millions of dollars in overcharged loan subsidies, some issues cannot escape attention.  Senator Warren, one of the leading voices in student loan refinance reform, called to attention the Department of Education’s spending towards lobbying Congress which, according to Sen. Warren, may be not be in the best interest of borrowers. One major company involved is...

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Retirement Funds in Jeopardy: The Impact of Student Loans

There is a building trend for families when it comes to financing higher education such as college or grad school; it involves the financial implications parents, their college aged children, and the cost of higher education. When thinking about college as a parent, the first thing that comes to mind is financing this education in order to secure a future for a child.  While this incentive is grounded in good faith, it may not be the correct choice for many aging couples. Financing college has become somewhat synonymous with student loans.  Many can vouch for this association because plenty...

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College Ave Student Loans Launches “Find Your Perfect Fit” Campaign

One of the largest online provider of student loans, College Ave, has launched a new marketing campaign when it comes to student loans.  The main headline for this campaign is quoted “Find Your Perfect Fit.”  Much like finding the right fitting pair of clothes, student loans require a considerable amount of thought and consideration before signing on. When you are trying on new clothes, you are allowed to use a changing room to figure out the right fit.  Something similar is provided by College Ave.  College Ave provides extensive online resources for anyone looking to borrow a student loan...

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