Author: Kate Webster

New Jersey Loan Programs to Face Potential Changes

New Jersey’s loan programs are coming under legal scrutiny. The New Jersey State Senate has announced plans to examine agencies that currently offer student loans within the state. This has come to light after the alarming methods used by the state loan programs became public knowledge. Numerous controversies currently exist regarding the loan programs. Instead of operating within the laws of the state, these loan agencies are authorized by the state, meaning they have unhindered power regarding collections. Students and graduates who borrow from any New Jersey sponsored private lender can have their wages garnished and state tax returns...

Read More

Central Louisiana Technical College Approved for Federal Loans

For those seeking higher education opportunities, it’s a good time to be a Louisiana student. Recently, CLTCC – the Central Louisiana Technical Community College – was approved for federal student loan funding. The CLTCC has offered various degrees for those looking to expand their skill sets and learn trades. The offering of associate degrees and industry certifications have been critical to the success of hard working individuals, but many have been limited regarding available funds for courses. With rising costs related to inflation and standards of living, high-school graduates face limited options when it comes to well-paying jobs. Federal...

Read More

New Jersey Loan Programs Present Obstacles

It’s a difficult time to be a student. Getting finances for higher education is a mountain of enormous debt, varying interest rates, and dangers of default. Some try to improve their chances by using private or state based lenders to increase the loan amount they receive, but that creates problems of its own. New Jersey has become a hotbed for financial turmoil regarding these loans. Currently home to the largest state based loan program in the United States, numerous problems have occurred because of private lenders. This is made worse from a lack of transparency about possible relief and...

Read More

New Guidelines for Student Loan Repayment

Recently, the Obama administration addressed the focus of collection companies related to student loan debt. The goal is to shift this attention from collections to give graduates a fairer way of paying back loans. Currently, the average student loan debt sits at $1.3 trillion with a percentage of that in default. Retooling the way students pay their loans can offer relief to millions of Americans currently in debt, and make it easier for them to do so. The guidelines for handling this repayment method must be first approved by the Department of Education’s Federal Student Aid office. If approved,...

Read More

Lower Interest Rates on Student Loans

Anyone seeking higher education has a few options to pay for college. Either they can pay out of pocket, rely on family for help, or take out student loans. The latter is the most common, providing a financial loan amount based on student’s need. While a great step forward to anyone seeking higher education, loans come with a few downsides. The first is the amount, as it’s not uncommon for college graduates to have at least $30K-40K in student loan debt. Secondly, interest rates can extend the life of a debt for years, depending on how the student pays...

Read More