Private Student Loan News

Private student loan news and program updates to help students and parents understand the latest trends and changes in private student loans.

The Myth of Obama Student Loan Forgiveness

Oct 21 2014  -  Contrary to infomercials, commercials and advertisements appearing online and in the media, there is no such thing as "Obama student loan forgiveness." It is a fabrication that exploits the desperation of borrowers who are struggling to rep...

College in the Year 2040

Oct 20 2014  -  What does the future hold for the next generation of college students? Most of the changes 25 years from now will be a straightforward extrapolation of current trends. Cuts in Government Support of Postsecondary Education Federal and state...

Former College Students Wish for a Do-Over on their Student Loans

Oct 14 2014  -  Citizens Financial Group has released survey results that show that more than three-quarters (77%) of former college students with student loans wish they had planned better for repaying their student loan debt. Across all respondents, stud...

A Strange Spike in Serious Student Loan Delinquencies

Oct 2 2014  -  Data from the Federal Reserve Bank of New York concerning serious delinquencies of various types of consumer debt shows a strange spike in serious student loan delinquencies in Q3 of 2012. The data was published in the Quarterly Report on H...

Student Loan Default Rates Drop

Sep 29 2014  -  The U.S. Department of Education announced on Wednesday, September 24, 2014, that the national 3-year cohort default rate (CDR) for federal student loans had decreased from 14.7% to 13.7%. This is the first improvement in the cohort default...

Older Americans Retiring with Student Loan Debt

Sep 17 2014  -  The U.S. Government Accountability Office (GAO) has issued a report demonstrating that an increasing number of older Americans are retiring with student loan debt. Many of these borrowers are defaulting on their federal education loans and...

Private Consolidation of Federal Loans

Sep 16 2014  -  Several lenders of private student loans, including Citizens, SoFi and CommonBond, are offering to consolidate federal education loans into private student loans for some borrowers. When is private consolidation of federal education loans a...

Despite Worries About Student Loans, Many Borrowers Have No Plan for Repaying Debt

Aug 28 2014  -  The majority of young adults, college students and parents are worried about the rising cost of college, but do not have a plan to manage and pay down student debt, according to a survey released by Citizen's Financial Group Inc., based in...

Federal Government Releases Student Loan Delinquency Data

Aug 18 2014  -  The U.S. Department of Education has released data concerning delinquency rates for federal student loans for the first time. The Department has previously released data concerning total federal loan volume outstanding, loan status and repa...

Government Proposes Changes to Federal PLUS Loan Credit Criteria

Aug 13 2014  -  The U.S. Department of Education is proposing to loosen the eligibility criteria for the Federal PLUS loan, after previously tightening them. Current Regulations To be eligible for a Federal Parent PLUS loan or a Federal Grad PLUS loan, th...

College Costs Out of Control

Jul 19 2013  -  Despite the concerns arising over the recent increase in the federal student loan interest rate, the real problem at hand is the rising cost of college, and decline in government grants...

Pros and Cons of Private Student Loan Consolidation

Jul 12 2013  -  Congratulations on finally finishing college. While it's great to be working and living on your own, you now get to pay your own bills (and yes, now you finally understand why your parents always yelled at you for taking more than 10 minute...

When to Get Student Loans

Apr 16 2013  -  To help families through this award letter season, here is a breakdown of how and when to accept—or apply for—all types of student loans.

Parents, 5 Financial Lessons for Your College Student

Apr 11 2013  -  As a parent, you are faced with one of life’s greatest challenges: preparing your child for financial responsibility. When your child leaves home for college, they will explore their independence in more ways than one. Learning the fi...

Stafford Loan Déjà Vu: Interest Rates Set to Double Once Again

Apr 10 2013  -  Once again, subsidized student loan interest rates are facing an impending increase. Without action, students may see rates double to 6.8% next year. Learn more!

Can You Refinance Student Loans?

Mar 18 2013  -  You can refinance your mortgage, but can you refinance your student loans? The short answer is: possibly. Let me elaborate. Refinancing is a tool commonly used by borrowers in the housing industry to lower interest rates. In regards to stud...

How to Refinance your Student Loans

Oct 8 2012  -  When students take out private student loans for the first time, they usually have little to no credit history built up. This means, their interest rates probably weren't ideal, or they applied with a cosigner. If you're one of these borrow...

5 Reasons to Consolidate your Student Loans

Sep 28 2012  -  Student loan consolidation is a great option for borrowers looking to lower monthly payments or simply make repayment easier. Don't believe us? Here are 5 ways consolidation can benefit you!

Student Loans: Where to Turn First

Aug 24 2012  -  You may have heard of Stafford loans, PLUS loans, and private student loans, but do you really know the differences between them? Is one type of loan really better than the other? Let's find out.

5 Private Student Loan Statistics

Aug 6 2012  -  Student loans have been all over the news in the past year, and borrowers are researching college financing options more than ever. In light of this, it's important to know the facts so you can make better-informed decisions about paying fo...