This article is about for profit school scams, slimy loans and students committing loan fraud by using mom’s identity to pay for multiple cosmetic surgeries. I know, it totally sounds like a bad script for an American trashy cable TV show. But this is a true story based on facts, rather than the imagination of a […]
(LoanSafe.org) – The Warehouse for Energy Efficiency Loans (WHEEL) that has worked with over 200 residential and commercial clients nationwide since 2008 has made it clear that homeowners in several states now have the benefit of an innovative public-private partnership that is making low cost home energy loans more practical. What this means is that […]
(Source: CFPB) – WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) Student Loan Ombudsman released a report analyzing complaints the CFPB has received from private student loan borrowers. According to the report, private student loan borrowers face payment processing pitfalls that can lead to increased costs, prolonged repayments, and harm to their credit […]
The Federal Deposit Insurance Corporation (FDIC) is encouraging financial institutions to work with private student loan borrowers experiencing financial difficulties. Despite several economic gains so far this year, financial analysts are predicting that student loan borrowers may endure hardships for years to come. The FDIC stated that institutions who offer private student loan workout programs […]
(Source: Governor Rick Scott) – Governor Scott called Congress irresponsible for going on recess and allowing federal student loan interest rates to double. Starting today, federally-subsidized student loan rates will double from 3.4 percent to 6.8 percent because Congress was unable to reach a compromise.
(Source: Congressman Mike Thompson) – With student loan rates having been set to double this morning, U.S. Rep. Mike Thompson on Wednesday called on the House to immediately bring up legislation he co-authored, H.R. 1595, the Student Loan Relief Act. Thompson’s bill would allow college students to benefit from historically low interest rates by freezing […]
(Source: Senator Sherrod Brown) – Following last week’s report showing that Ohio students who graduate with student loans hold an average debt of nearly $30,000, U.S. Sen. Sherrod Brown (D-OH) will outline a plan that would help Americans saddled with costly, private student loans refinance to more affordable options. During a news conference call today, […]
(Source: OCC) – Senior Deputy Comptroller for Bank Supervision Policy and Chief National Bank Examiner John C. Lyons discussed the supervision of private student lending conducted by national banks and federal savings associations during a hearing before the U.S. Senate Committee on Banking, Housing, and Urban Affairs. National banks and federal savings associations currently provide […]
(Source: Governor Andrew M Cuomo) — Governor Cuomo today wrote a letter to New York’s Congressional Delegation, stressing the need for urgent action to prevent the impending major increase in interest rates for student loans. If action is not taken by July 1, interest rates on students in New York and across the country will […]
(LoanSafe.org) – We’ve recently come across many student loan borrowers who are thinking outside the box and researching various ways to pay off their student loans fast. It’s no surprise that debt has become a major financial burden on countless college graduates across the country, with approximately half of all student loans in “deferred” status. […]
(LoanSafe.org) – With tuition rates on the rise across the country, students are taking on multiple loans in hopes of paying them back while undergoing courses, or when they finish college and land a job in their field. In today’s economy, students are finding it very difficult to make their way through college without having […]
(Source: CFPB) – Last week, we published a report on student loan affordability, which discussed the low levels of activity in the student loan refinance market. Since that time, we’ve received a lot of questions from consumers about what to consider if they find a refinance option. We’ve uploaded these questions to Ask CFPB. Take […]
(Source: CFPB) – During the past year, the Consumer Financial Protection Bureau (CFPB) has engaged in an in-depth review of short-term small dollar loans, specifically payday loans extended by non-depository institutions and deposit advance products offered by a small, but growing, number of depository institutions to their deposit account customers. This review began with a […]
(LoanSafe.org) – There are several types of student loans that anyone who’s going to college can get. The most common being private and Federal student loans.
(Loansafe.org) – Student loans have been a major burden on some students these last five years and many are finding it difficult to pay these loans back on time. With unemployment rates still extremely high in areas, studies show that about half of all student loans are in “deferred status.” This means that the student […]
(Source: Attorney General Dustin McDaniel) – LITTLE ROCK – Attorney General Dustin McDaniel announced today that the State has reached an agreement with a Delaware-based online lending company that prohibits that company from offering illegal payday loans to Arkansas consumers.
(Source: Equifax) – ATLANTA, — According to Equifax’s latest National Consumer Credit Trends Report, at the end of January 2012, the balances on outstanding auto loans total $782 billion, the highest level since January 2009 for a 48 month high, while the total number of existing loans stands at 59 million, the highest level since […]
When looking to get a loan modification people can be in desperate need of assistance. Mortgage loan modifications are a huge hassle, and auto loan modifications can be an even bigger one. Scammers will offer modification services for fees that could rank up to the thousands. In many states, charging consumers upfront fees for this […]
(Source: FEMA) – Getting local businesses back up and running is a key part of a community’s recovery after a disaster. Several of FEMA’s federal, state, local and private sector partners have programs in place to support New York businesses after Hurricane Sandy:
(Source: CFPB) – Americans owe more than a trillion dollars in student loan debt. That’s more than we owe on credit cards, more than we owe on car loans – and it’s still growing.