Posted on June 30th, 2009 by Student Loan News
Great news, everybody. New federal student loan guidelines that go into effect July 1st will help you lower your monthly payments. According to the Chronicle of Higher Education : The federal government’s new income-based repayment program, which takes effect Wednesday, allows borrowers to repay their loans as a percentage of their income, lowering payments for those with high debt-to-income ratios. Under the plan, which was created as part of the 2007 College Cost Reduction and Access Ac
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Posted on June 30th, 2009 by Student Loan News
by Dr. Ellen Brown Featured WriterDandelion Saladwebofdebt.com June 30, 2009“Our wallet is empty, our bank is closed and our credit is dried up.” – Governor Arnold Schwarzenegger, June 2, 2009California State Controller John Chiang has warned that without a balanced budget in place by July 1, he will begin using IOUs to pay most of the state’s bills. On June 25, California Governor Arnold Schwarzenegger rejected a plan that would save the state $3 billion by cutting school spending, saying he wo
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Posted on June 30th, 2009 by Student Loan News
Starting July 1st, 2009, student loan repayments will be limited to 15 percent of a borrower’s discretionary income or 15 percent of the amount that a borrower’s (and spouse’s if applicable) adjusted gross income exceeds 150 percent of the poverty line, divided by 12. If you’re still paying the college loan off after 25 years all [...]
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Posted on June 30th, 2009 by Student Loan News
Building your credit is something you certainly need to do for your financial future. Interestingly, at a time when most people are at the critical age to build solid credit, is also the time they are prone to destroy it. This crucial time is during your college years and all too often young people go away to school without the appropriate knowledge of how to handle their finances. While many of them are still financially dependent on their parents, the majority of them should be working toward
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Posted on June 30th, 2009 by Student Loan News
Good news for career planners looking at education options and financing their next career move. If you have or will have U.S. government guaranteed student loans, your repayment plan may be based on your income level. What a concept! – and hard to believe it has taken this long to implement. You can learn more about the new plan and eligibility at the studentaid.ed.gov website . Jonathan Glater also wrote an excellent article about the new plan in The New York Times today. And please m
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