Financial Aid

Career College Central Summary:

  • An anti-debt organization is playing fairy godmother to Americans drowning in debt, swooping in and paying off bills randomly to protest “unjust” expenses.
  • Rolling Jubilee claims it is fighting against the oppression used by the 1 percent to control the 99 percent.
  • But critics say its system of selecting debt to cancel fails to consider which bills are “unjust” and which might be well-earned....

Career College Central Summary:

  • The U.S. Department of Education is turning its back on at least 1,000 borrowers in favor of shielding their former colleges from potentially crippling sanctions that would have resulted from high rates of default on federal student loans.
  • The move, announced late Tuesday and further detailed on Wednesday, concerns an Obama administration decision not to punish as many as 20 schools for loan defaults caused by questionable servicing...

Career College Central Summary:

  • Maybe more consumer are realizing the long-lasting negative effects that can come from not repaying their student loans.
  • Or maybe not. we don’t really know why, but we do know that the number of borrowers defaulting on some federal student loans is decreasing.
  • A new report from the Department of Education found a drop in the percentage of borrowers who are defaulting on their student loans in the first years they...

Career College Central Summary:

Here are nine facts related to the student loan debt issues that affect seniors and may therefore influence reform efforts in Washington, D.C.

  1. Federal student loan debt for senior citizens — those age 65 and older — is more than six times higher today than eight years ago, rising to $18.2 billion in 2013 from $2.8 billion in 2005.
  2. The percentage of senior households that carry student loan debt is small when...

Career College Central Summary:

  • Corinthian Colleges is being sued by the federal Consumer Financial Protection Bureau for what it calls a "predatory lending scheme."
  • The CFPB is seeking more than $500 million for borrowers who used the for-profit education company's private student loans.
  • Corinthian misled students about their job prospects, in some cases paying employers to offer temporary jobs to graduates, the agency said Tuesday....