Author: Staff

New Mexico Student Loans Review

The majority of students attending college need the assistance of long-term financing through federal or private student loans or a combination of the two. Student loans allow borrowers to take out a lump sum of money to pay for the cost of earning a degree, instead of using money out of savings, college funding accounts, or other sources of lending.In 1981, the state legislature of New Mexico established the New Mexico Educational Assistance Foundation, or NMEAF, to increase access to financial assistance for residents of the state as well as non-residents attending college in the state. The NMEAF operates...

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Navient Subjected to Lawsuit From Its Shareholders

The Wilmington-based student loan servicing company Navient can’t seem to catch a break. After a long year of negative headlines, shareholders are fed up and seeking damages in court. Shareholders allege that Navient withheld information regarding subprime student loans over the past year.This new development stems from and follows several legal actions involving the Pennsylvania Attorney General’s office and the Consumer Financial Protection Bureau at the federal level. In Pennsylvania, AG Shapiro cited “deceptive practices and predatory conduct” when filing the lawsuit.This lawsuit followed other lawsuits including a case by the Washington AG and the CFPB on separate occasions....

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NASFAA Goes After Origination Fees on Federal Student Loans

The Capitol building can be seen above during the sunset.At Capitol Hill in Washington, student loan origination fees received some heat from critics who argued they were “burdensome and represented a tax on students. The critics, a team from the National Association of Student Financial Aid Administrators (NASFAA), attempted to lobby Washington lawmakers to end origination fees during a meeting with members of the House Committee on Education and the Workforce.Origination fees are often seen as a large burden to a student loan applicant. They are viewed as a remnant of the stake that private banks and lenders had...

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Poll: Student Debtors Want Student Loan Payments This Holiday Season, Not Gifts

Whether it be Christmas, Hanukkah, Kwanzaa, or another holiday, December is the month of giving and receiving. For borrowers currently in repayment on their educational debt, they will have no choice but to give during the holiday season. Across the United States, millions of student debtors will send their December student loan payments to either a federal student loan servicer or private student loan company. After they have done all of their giving, what will student loan borrowers desire most as a present? A VR headset, the iPhone X, tickets to Super Bowl LII? A single student loan payment?The Student Loan Report...

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GOP Legislation Proposes Sweeping Change in Student Loan Industry

Pictured above is Capitol Hill in Washington DC.Congressional GOP leaders are planning to introduce pivotal new legislation concerning the federal student loans system and overall higher education policy. The primary goal of the new measures is to equip college students with more practical skills to prepare them adequately for the workforce. In addition to that, it would also cancel several current higher education and financial aid programs to control student loan borrowing.The new legislation, called the PROSPER Act (Promoting Real Opportunity, Success, and Prosperity Through Education Reform) stipulates several new provisions:For starters, student loan debt would no longer be...

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