Smart Borrower Blog

Archive for the ‘Private Student Loans’ Category

Student Loan Strike Gains Ground With Government

Apr 1st, 2015 @ 8:10 PM by Amber Nelson

A month after 15 former students formally refused to pay their federal loans, their “debt strike” has attracted 85 more people and the attention of the U.S. government. The strikers are all current and former students of the Corinthian College network which includes Evertest Institute, Wyotech and Heald College. After a wave of accusations about […]

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Lenders Look to Student Loan Refinancing Again

Feb 26th, 2014 @ 8:37 PM by Amber Nelson

After several years of shying away from any extra risk, many banks and lenders are now starting to refinance student loan debt again. The Wall Street Journal recently reported that Discover Financial Services said it will begin consolidating private student loans later in 2014 and RBS Citizens Financial Group Inc. has already started refinancing private […]

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College Debt Rises Unevenly Across the Country

Dec 4th, 2013 @ 7:57 PM by Amber Nelson

More U.S. college students are coming out of school with debt and with more of it, but the load is not shared equally across the nation, according to a recent report. The Institute for College Access and Success, analyzed federal data from former students and a survey of over 1,000 colleges and found that 71 […]

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Study: Students Get the Runaround from Private Lenders and Servicers

Oct 16th, 2013 @ 6:50 PM by Amber Nelson

American consumers trying to pay off student loans from private lenders often face difficulties with missed paperwork and added fees, according to a new report from the Consumer Financial Protection Bureau. The study examined 3,800 complaints against private student debt lenders and servicers made during the past year. Some borrowers complained that their payments were […]

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Average U.S. Graduate Debt Tops $35,000

May 28th, 2013 @ 8:50 PM by Amber Nelson

A recent survey found that 57 percent of 2013 U.S. college graduates specifically chose their major because they thought it would help them get a better paying job. And that’s good; they’re going to need that lucrative job to pay off all their student loans. That same survey, conducted by the Fidelity Investments firm, found […]

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Consumers With Student Debt Shy Away From Home and Car Buying

Apr 17th, 2013 @ 10:47 AM by Amber Nelson

Young American consumers with student debt are not taking on mortgages and auto loans as readily these days, according to a new report from the New York Federal Reserve. Those with student loans have traditionally been those with college degrees and larger incomes, resulting in more major purchases likes homes and cars. For example, back […]

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Colleges Face Tough Year As Students Balk at More Loans

Jan 16th, 2013 @ 12:09 PM by Amber Nelson

The U.S. higher education sector recently got a negative outlook rating by Moody’s Investors Service, a sign that students are rethinking the value of college in the face of high tuition and and mounting student debt. “The U.S. higher education sector has hit a critical juncture in the evolution of its business model,” said Eva Bogaty, Moody’s […]

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Report: Private Student Loans Were Out of Control, Just Like Subprime Mortgages

Jul 25th, 2012 @ 1:57 PM by Amber Nelson

Private student debt has risen to epic proportions in the past several years, with dire consequences for borrowers and investors, similar to the troubles that followed the recent subprime mortgage crisis, according to a new report from the Consumer Financial Protection Bureau. The “Private Student Loans” study, required by Congress as part of the Frank-Dodd […]

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Student Loan Debt – the Next Big Economic Crisis?

Apr 4th, 2012 @ 8:17 PM by Amber Nelson

Americans now hold over $1 trillion in student loan debt, a growing figure which has recently surpassed total U.S. credit card and auto loan debt. As college tuition and fees continue to rise, could this overwhelming debt burden turn out to be the next big financial crisis? Average student loan debt has reached $25,000, according […]

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Student Loan Debt Reaches Record Levels

Oct 19th, 2011 @ 6:56 PM by Amber Nelson

Total student loan debt in the U.S. has surpassed national credit card debt, according to new figures from the Federal Reserve Bank of New York. New student loan funds borrowed last year grew to $100 billion dollars, a record high, and now total outstanding student loan debt has reached $1 trillion for the first time […]

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