Kiva And Vittana Crowdfund Student Loans In The Developing World

The nonprofit partners with local organizations and micro-finance institutions (MFIs) to create tuition loan programs for students who are close to graduation but need money to pay final tuition in order to graduate. Loans average $750, and a repayment rate of 99 percent, which shows that students will pay back their loans if given the opportunity. As students continue to successfully repay their loans, they are creating that repayment history and opening the door for millions of other students in the future. Beginning on April 2, all student loans sourced by Vittana.org will be posted on Kivas website for crowdfunding rather than on the Vittana website. Visitors will be able to browse through the stories and profiles of students and select one they want to support with a loan of $25 or more.
Source: http://www.triplepundit.com/2014/03/kiva-vittana-crowdfund-student-loans-developing-world/

The long-term impact of student-loan debt

What that means is that for the graduates who are actually expected to pay their loans now, the delinquency rate is roughly double the 11.5% figure. Federal Reserve Bank of New York Delinquencies on student loans rose to 11.5% in the past quarter of 2013, even as credit-card and mortgage delinquencies fell. Evidence suggests that student-loan delinquencies for graduates actually expected to make payments are far higher. Why are student debts and delinquencies continuing to rise? One answer is that the cost of higher educations is increasing. Between the 200001 academic year and the 201011 academic year, the annual cost of a degree at public and private two- and four-year institutions rose 70%, from an average of $10,820 to $18,497, according to data provided by the federal governments Institute of Education Sciences.
Source: http://business.time.com/2014/02/26/student-loans-are-ruining-your-life-now-theyre-ruining-the-economy-too/

Student Loans Are Ruining Your Life. Now They’re Ruining the Economy, Too

It’s a little too early to tell yet if there will be any changes to Parent official website PLUS credit checks or rules surrounding debit cards. There are still two more meetings and a round of comments before final regulations will be issued. The Student Loan Ranger will keep an eye on this issue. If you’re really interested in how this process works, you can come sit in the public section of the negotiated rule-making process. Or, if you really want to see how the sausage is made, come sit in the public section of the negotiated rule-making meeting itself.
Source: http://news.yahoo.com/federal-regulators-eye-parent-plus-loans-student-debit-150000712.html

REFILE-COLUMN-Bankrupt? How to get student loan debt erased

The borrowers who won these discharges had low costs, either receiving free legal help or representing themselves. In most cases, borrowers in bankruptcy don’t even ask for help because they figure a discharge of debt is so rare. In one study of 170,000 student loan debtors who filed for bankruptcy protection in 2007, only 51 won full discharges of their debt and 30 received partial discharges. The author of the study, which was published in the American Bankruptcy Law Journal, found that only 213 of the student loan debtors studied even tried to have their education debt discharged by filing what’s known as an “adversary proceeding.” Since bankruptcy law doesn’t allow student loans to be erased in a regular filing, this extra step is necessary before education debt can be discharged. Of those who tried to get their student debt wiped out, in other words, two out of five got at least some relief.
Source: http://www.reuters.com/article/2014/03/04/column-weston-bankruptcy-colum-idUSL1N0M11WC20140304

Federal Regulators Eye Parent PLUS Loans, Student Debit Cards

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Source: http://www.usatoday.com/story/money/personalfinance/2014/03/03/ozy-student-debt/5976111/

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