A new bill has been introduced in the House of Representatives by Congressman Hansen Clarke that could bring a much welcome respite to students saddled with considerable educational debt.
Archive for the ‘Finance Fridays’ Category
Finance Friday: What’s an LRAP?
Jul 2nd, 2010
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If you’re thinking about going to law school and then entering into a career in the legal public interest or public service path, you’re also probably worried about how you’ll be able to pay off your law school loans. With many students graduating law school with a loan burden of $80,000 or more, and public interest/public service jobs starting anywhere from $40,000 to $50,000, your worries are well founded. However, law schools (and state bar associations, some states, and the federal government) have responded to this financial conundrum by creating Loan Repayment Assistance Programs–LRAPs–for law school graduates entering the legal public interest and public service workforce. What exactly are these LRAPs, and how can they help you cope with your law school debt burden?
Finance Friday: Private Student Loans Get Some Oversight
Jun 25th, 2010
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As we saw last Friday, the U.S. government is currently passing legislation which will attempt to make the federal loan process easier, more transparent, and (hopefully) cheaper for student loan borrowers. In addition, Congress is expected to vote on a bill regulating the private (non-federal) educational loan market in the coming days. Students and parents often turn to private lenders–typically banks, but also institutions of higher learning–in order to finance the difference between the funding they can get from federal loans and the cost of tuition at their institution. How will this legislation affect those student borrowers?
Finance Friday: Federal Loans Get Easier (and Cheaper)
Jun 18th, 2010
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In recent months there has been lots of hoopla surrounding the “de-privatization” of federal student loans. When this new federal aid legislation was signed into law in late March of 2010, few even knew what the legislation would do; a few months later, though, it behooves you to know. New (and old) student borrowers will get a pleasant surprise: lower interest rates and a simpler loan application process.
Finance Friday: Completing the FAFSA
Mar 12th, 2010
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March is the month when deadlines for the FAFSA, the Free Application for Federal Student Aid, come up. Almost all students can qualify for some form of federal financial aid, but they must complete the FAFSA by their school’s and state’s designated deadline in order to be eligible and get the most aid they can. Do you know what to do in order to correctly compete this most-important form?
