And a “forgiveness stimulus” would have a limited impact. According to my calculations based on data from the Education Department’s Direct Loan Program, annual payments and default collections total about 5.6 percent of these outstanding direct loans. If this proportion is similar for other kinds of education debt, then forgiving...
6 Nov, 2011 [ (0) Comment ]
Student loan debt fails the future
Which brings us to the latest trillion-dollar-baby: America's student loan debt.
The Federal Reserve Bank of New York reported last month that the debt owed by U.S. college students has topped $1 trillion for the first time. That figure doesn't even take into account the loans owned by parents on behalf...
5 Nov, 2011 [ (0) Comment ]
Jean Chatzky: Student loan default can trigger apocalyptic consequences – Post
Two weeks ago, the Federal Reserve Bank of New York reported the newest stats on student loan debt.Last year, for the first time ever, the amount of loans taken out by students hit the $100 billion mark. What's more, USA Today recently reported that the total amount of outstanding student...
1 Nov, 2011 [ (0) Comment ]
Michele Bachmann Criticizes Obama Student Loan Plan
...31 Oct, 2011 [ (0) Comment ]
Bachman says Obama’s college loan devise is an abuse of energy that encourages debt dodging
“I believe it is abuse of power from the executive to impose via an executive order a wholesale change in the student loan,” Bachmann, a Minnesota congresswoman, said during an education forum in New York put on by The College Board and News Corp.
Appearing by satellite from Minneapolis where...
28 Oct, 2011 [ (0) Comment ]
Michele Bachmann criticizes Obama’s tyro loan plan
ST. PAUL, Minn. — Republican presidential candidate Michele Bachmann criticized a directive by President Barack Obama to ease student loan debt as an "abuse of power" that will give people incentive to dodge debt.
The candidates reacted Thursday to a decision Obama announced a day earlier to cap required payments...
