(phildesignart)

Sen. Elizabeth Warren: It’s Obscene That The Govt. Profits Off Student Loans

There were several sticking points that bogged down the U.S. Senate from quickly passing legislation that would provide a long-term solution to the problem of interest rates on federal Stafford student loans. Among these was whether the government should be able to charge a rate that would allow it to make a profit. [More]

(Stuartpilbrow)

Senate Reaches Tentative Deal On Student Loan Interest Rates

One day after failing to move forward on a one-year extension of low interest rates on federal Stafford student loans, the U.S. Senate has reportedly reached a tentative agreement that tie interest rates to the 10-year Treasury bond, thus resulting in a moderate increase in interest rates for students taking out their first loan this fall. [More]

(larryt135)

Senate Fails To Figure Out Solution To Keep Student Loan Rates In Check

As we mentioned before the holiday, the U.S. Senate had gone off to make sandcastles and enjoy fireworks without figuring out a way to keep interest rates on federal Stafford student loans from doubling. Now the first attempt to retroactively fix that problem has failed, with the Senate unable to move forward with a one-year extension on the lower rate. [More]

(Source: The Urban Institute)

More Than Half Of People With Student Loans Are Worried They Can’t Repay

Only 1-in-5 American adults is carrying some sort of student loan debt, and yet that relatively small group of consumers accounts for more than $1 trillion owed to lenders, more than either auto loans or credit card debt. And a new survey finds that nearly 60% of these borrowers are worried that they won’t be able to pay off their student loans. [More]

(afagen)

Feds And Colleges Now Blacklisting Student-Aid Scammers

More than 12 million U.S. college students applied for federal aid for the school year starting this fall, but around 126,000 of these applicants have been flagged by schools and the government as potential scammers looking to cash aid checks without ever intending to get an education. [More]

(steakpinball)

Jury Awards Former Student $13 Million In Lawsuit Against For-Profit College

One of the more common complaints against for-profit colleges is that the institutions make promises to prospective students about job placement and salary that the schools don’t make good on. A woman in Missouri recently sued one such for-profit school, saying it misled her about its medical assistant program. She had been seeking somewhere between $2-4 million in damages, but the jury went ahead and awarded her $13 million. [More]

(afagen)

Theme-Park Engineering And 3 Other Non-Traditional College Degrees That Can Pay Off

Most people know that degrees in things like economics, business, mathematics, and medicine can lead to high-paying real-world jobs, while a degree in Tuvan throat-singing, while fascinating and important, won’t necessarily help you make a down-payment on a house. But there are some non-traditional college degrees that could result in a nice paycheck. [More]

Given that fewer than 60% of college students obtain a degree in six years, some people may be throwing money away -- and piling on student loan debt.

Why College Isn’t Always A Good Financial Investment

There’s no doubt that the average college graduate earns more than the average worker with only a high school diploma, but a new report shows that it may not always make financial sense to invest in a degree. [More]

(Chris Rief)

The CFPB Answers Your Student Loan Questions, Part 3: Defaulting And Loan Forgiveness

In the second set of questions and answers about student loans, the Consumer Financial Protection Bureau’s Student Loan Ombudsman Rohit Chopra made a few mentions of the various service-specific loan forgiveness programs out there. Here, he gets into more detail and responds to questions about the one topic no one ever hopes to face: default. [More]

(Funny Strange or Funny Haha)

The CFPB Answers Your Student Loan Questions, Part 1: For Prospective Students

A little while back, we asked Consumerist readers to send in their student loan-related questions to Rohit Chopra, the Consumer Financial Protection Bureau’s Student Loan Ombudsman. Today, we’re bringing you his answers in three parts, each dealing with a different aspect of the topic. Since it’s about time for next year’s freshman class to decide on schools and financial aid packages, we’re starting with answers for prospective students. [More]

Greendale, raccoon-free by 2014!

13 Attorneys General Voice Support For Federal Bill To Curb Advertising By For-Profit Schools

Earlier this week, Senators Kay Hagan (North Carolina) and Tom Harkin (Iowa) decided to take another go at introducing legislation that would seek to limit the amount of federal money for-profit schools could spend on advertising. At the same time, the Attorneys General from 13 states penned a letter to the chairs and ranking members of key Senate and House voicing their support for the bill. [More]

(afagen)

Student Loan Debt Is Creating Generation Of High-Risk Borrowers With Low Credit Scores

Lots of people graduate college with minimal credit histories. Repaying student loans was always a dependable way to build that history. But recent, rampant growth in student loan debt in the U.S. could slow that process for an entire age group. [More]

(owenkohai)

Study: Almost Half Of College-Educated Workers Overqualified For Their Jobs

Do you have a college degree? Do you have a job? You might well be overqualified for whatever it is you’re doing, suggests a new study, as almost half college-educated Americans are apparently in jobs they’re overqualifed for. And the way things are going, that’s how it will be for recent graduates down the line as well. [More]

Spencerian College, with two campuses in Kentucky, has been sued by the state's Attorney General's office.

Kentucky Sues For-Profit College Over Misleading Job-Placement Stats

If you’re comparing college programs and see job-placement rates of anywhere from 80% to 100%, that might sound pretty appealing. But what if the real numbers are not so rosy? [More]

(afagen)

Some For-Profit Colleges Taking “Unlimited Data Plan” Approach To Tuition

A number of recent studies have cast a negative light on the for-profit college industry. A disproportionate number of students are not graduating or unable to find jobs that pay enough to allow them to repay their student loans. With so many people concerned that these schools might be debt traps, some programs are taking a new approach to tuition. [More]

(joelgoodman)

Study: Women Earning Less Than Men Immediately After Graduating College

For anyone who thinks that the pay gap between men and women is something that doesn’t begin until later in their careers, or that this salary disparity is a disappearing relic of a bygone era, a new study claims that within one year of graduating from college, women are only earning 82% of what their male counterparts are making. [More]

(Tim Schreier)

Report Shows That College Debt Is On The Rise Again For Recent Graduates

Today in discouraging news: the amount of college debt held by recent graduates is on the rise again. Two-thirds of the class of 2011 nationwide held debt on graduating, and on average those students had about $26,600 to take away with them along with their diplomas. However, those numbers don’t even include most graduates of for-profit colleges, who usually borrow a lot more than other students. [More]

112 U. of Phoenix locations will remain

University Of Phoenix Not Exactly Rising From Ashes, To Close 115 Locations

With enrollment and revenue declining, the University of Phoenix announced yesterday that it will close about half of its physical locations around the country in an effort to save $300 million.

The closed locations includes 90 learning centers and 25 campuses, accounting for a total of 13,000 students. This will leave 112 Phoenix locations in 36 states. [More]