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Student Loan Rescue Plan to Move into Next Phase in February


Jan 30, 2009
The student loan rescue plan that will allow the Department of Education to buy up student loans issued since 2003 will begin operating in February.  The plan will set up a bank to act as a "conduit" for purchasing older student loan assets and will also allow the Treasury to become the buyer of last resort for assets the conduit bank is unable to refinance.  The Treasury will buy up student loans through this program for the first 90 days, after which the Department of Education will take over.  The Bank of New York Mellon is currently the only authorized conduit, though more could be added later. This plan will hopefully allow banks that have had to leave the FFEL program to find the capital to reenter it through selling some of their older student loans to the conduit bank.  While [...]
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College and university endowments plunged an average of 23 percent between July 1 and November 30 in 2008, with many sustaining further losses since then.  While almost everyone who's been reading higher education news or attending college knows that endowments have dropped, the depth and the breadth of the damage has largely been left to the realm of speculation. Endowment losses had [...]

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It's looking like federal student financial aid will be increased in the forthcoming economic stimulus package, at least based on the legislation presented in each house of Congress in its current form.  While the House stimulus bill contains more aid for education, the Senate bill also proposes higher education tax benefits and increases in Federal Pell Grant funding. The House bill [...]

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If you're wondering what to expect in college or how you measure up against the students already there, an annual survey of college freshmen may help answer your questions.  The Cooperative Institutional Research Program, conducted by the Higher Education Research Institute and UCLA, annually surveys college freshmen, asking a broad spectrum of questions ranging from their reasons for their [...]

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If you're planning to enroll in a community college sometime in 2009, be sure to plan ahead.  While in the past, late registration may have resulted in students not getting a class or two they wanted, increased interest in two year schools may produce an even more pronounced effect.  Community colleges across the country are receiving more applications and admitting more students for the [...]

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While the focus for many students right now is planning for and paying for the next year of college, some students are still struggling with bills from the current or previous semester.  An e-mail survey by the American Association of Collegiate Registrars and Admissions Officers reports a perceived increase in unpaid tuition bills in the 2008-2009 academic year.  While being caught short on one [...]

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Barack Obama became known for his web presence during his Presidential campaign.  He and his transition team have kept up this reputation through YouTube addresses and websites such as Change.gov, the official transitional website.  Now the Obama transition team is asking for public comments--or at least blog comments--on issues related to paying for school.  A post on the [...]

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Recent economic hardships have derailed many families' college plans, prompting some to stop saving and others to start considering less expensive colleges.  For students still determined to attend a prestigious university, another option has been gaining traction.  According to an article in The Boston Globe, applications from American students are up at many of Canada's top [...]

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