Sunday May 4, 2008
Many college students are being affected by the credit crunch. This MarketWatch article reports that Congress is working to help students whose loans are cut and whose families have mortgage problems. Let's just hope the help comes soon enough.
Sunday Feb 24, 2008
Students, if you think you're loans are at risk because of the downturned economy, relax, have a drink. This brief article covers why federal student loans are in the clear.
Wednesday Jul 18, 2007
Private loans aren't eligible for the federal loan-consolidation program, which offer lower fixed rates. Still, there may be some benefits to consolidating.
Thursday Jun 15, 2006
With interest rates on student loans set to rise July 1, lenders are inundating people paying down college debt with a confusing array of aggressive pitches to refinance.
Wednesday Dec 7, 2005
Kids are graduating college loaded with debt and then are exhorted to buy a house, build up a rainy-day fund and save for retirement. Jonathan Clements offers some ways for recent college graduates to get their finances on track.
Wednesday Nov 30, 2005
Many of last spring's college graduates will soon be facing an important decision: how to repay their student loans.
Wednesday Jun 2, 2004
Demand for loan-consolidation services are likely to rise next month as rates on certain federal student loans fall. Lenders offer varying discounts, making it important to shop around.
Thursday May 27, 2004
The Wall Street Journal explains how to consolidate student loans the most efficient and effective way.
Sunday Apr 25, 2004
Many grads emerge from college with more debt than their yearly salary. Here are some strategies to get debt organized and make it less burdensome.
Sunday Mar 21, 2004
As prevailing interest rates have plunged in recent years, a lot of 20-something borrowers have rushed to restructure their student loans to get a better deal.
| Type | Today | Week Ago |
|---|---|---|
| 15 Year Fixed | 4.62%  |
4.67% |
| 30 Year Fixed | 5.15% | 5.15% |
| 1 Year ARM | 3.48% |
3.51% |
| 5/1 Year ARM | 3.62% |
3.68% |
| Type | Today | Week Ago |
|---|---|---|
| Line of Credit | 4.89%  |
4.88% |
| 10 Year Loan | 7.47% | 7.47% |
| 15 Year Loan | 7.61% |
7.60% |
| Type | Today | Week Ago |
|---|---|---|
| Interest Checking | 0.28% | 0.28% |
| Money Market/Savings | 0.38% | 0.38% |
| 12 Month CD | 1.13%  |
1.15% |
| 60 Month IRA CD | 2.40% |
2.41% |
| Type | Today | Week Ago |
|---|---|---|
| Cash Back Cards | 12.66% |
12.68% |
| No Annual Fee Cards | 12.08% |
11.97% |
| Reward Cards | 12.75% |
12.61% |
| Small Business Cards | 11.01% |
10.94% |
| Student Cards | 13.77% |
13.49% |
| Platinum Cards | 12.26% |
12.11% |
The change will not make it harder for students to get federal education loans. The origination process is a bit smoother in the Direct Loan program. Also, Parent PLUS loan approval rates seem to be somewhat higher in the Direct Loan program than in the federally-guaranteed student loan program. (See http://www.finaid.org/educators/20090831parentplusdenial.pdf) Stafford loans do not depend on the borrower's credit history. It is possible that some of the lenders that offered both federal and private student loans might end their private student loan programs when they are no longer able to make new federal education loans. But the dominant factor affecting the availability of private student loans is limited liquidity.