Forgive Student Loan Debt: Five Years On | The Nation

Sadly, neither Congress nor the White House took this proposal seriously, and to be honest, it was written with tongue firmly planted in cheek; however, what I had written had the unexpected consequence of helping spark a true grassroots movement that continues to this day. Within weeks of the essay, dozens of publications and news outlets were reporting on the proposal, with BusinessWeek dubbing me a spokesman for a generation of people with student loan debt. It was a role I never sought but one I proudly assumed out of a sense of civic duty. Over time, I used my new political clout to work with former Representative Hansen Clarke in crafting HR 4170, The Student Loan Forgiveness Act of 2012. The petition I created in support of that legislation garnered nearly 1.2 million signatures, and Representative Clarke and I presented that petition to congressional leadership at a press conference on Capitol Hill. During the course of my advocacy on student debt, I met some incredible activists and organizers. Wanting to expand the reach of my advocacy, I teamed up with Natalia Abrams, Kyle McCarthy and Aaron Calafato to form StudentDebtCrisis.org . Together, we at StudentDebtCrisis.org have continued to advocate for the more than 40 million Americans who collectively owe more than $1.2 trillion in student loan debt.
Source: http://www.thenation.com/blog/178169/forgive-student-loan-debt-five-years

Banks And Student Loan Refinancing: Is It Safe to Go Back in the Water?

30, 2014 /PRNewswire-USNewswire/ — Members of the Education Finance Council (EFC), the trade association representing nonprofit and state agency student loan organizations, are honoring Financial Aid Awareness month in February with statewide financial aid awareness campaigns, workshops, events, presentations, videos, scholarship opportunities, and educator training. EFC members are trusted resources in their states for college planning and during the first quarter of each year, they lead the charge to encourage completion of the Free Application for Federal Student Aid (FAFSA). Representatives from each member organization participate on the EFC College Success Committee, discussing and developing best practices for student outreach programs. The Committee named financial aid awareness as a top priority http://www.obamastudentloanforgiveness.net/ for 2014 and hosted a Twitter chat on FAFSA completion in January. “Our financial aid awareness efforts are very similar to those of other EFC memberswe are all striving toward the same goal of making college more accessible to students and families in our states,” said Joni Leggio, AVP of Marketing for the Louisiana Education Loan Authority (Lela) and Chair of EFC’s College Success Committee. “Each year our organization runs a FAAM (Financial Aid Awareness Month) campaign to educate high school seniors and their families on financial aid options and help them fill out the FAFSA.
Source: http://news.yahoo.com/nonprofit-student-loan-organizations-celebrate-financial-aid-awareness-153100199.html

Nonprofit Student Loan Organizations Celebrate Financial Aid Awareness Month

They deserve more flexibility regarding their student loans.” Related Articles Obama Urged to Act on Student Loan Refinance “Our new Education Refinance Loan offers qualified borrowers an option to change the terms of their loans to better meet their current life situation,” he added. Customers that authorize the bank to automatically deduct their payments from their bank accounts receive an additional 0.25% discount. “Education Refinance loan is an underwritten loan and credit scores are one of the major factors we look at,” Coughlin said. “Along with a strong credit score, we also consider the borrower’s salary, when they graduated and how long they have been successfully paying back their current student loans. While not required, having a co-signer can help, especially for recent graduates just entering their first job.” The re-fi vehicles come with no pre-payment penalties.
Source: http://www.mainstreet.com/article/moneyinvesting/education-planning/banks-and-student-loan-refinancing-it-safe-go-back-water

3 Potential Student Loan Changes To Eye In 2014

They could make other changes in eligibility.” Those other changes could include using debt-to-income ratios and FICO credit scores to determine eligibility for federal PLUS loans. These adjustments would help reduce default rates , Kantrowitz says, but could also shut out a larger portion of students and parents. 2. Interest rates: Congress battled over student loan interest rates in 2013, finally agreeing on market-based rates in late July. While the agreement lowered interest rates from borrowers at the onset, the respite was only temporary. “Rates are going to go up,” says Kantrowitz.
Source: http://www.huffingtonpost.com/2014/01/26/student-loan-changes-2014_n_4671112.html

Gillibrand challenges Obama to ease student loan debt

Senator makes a new push. Student loans could be refinanced at lower interest under new legislation supported by Sen. Kirsten Gillibrand (D) of New York. By Associated Press / January 27, 2014 Sen. Kirsten Gillibrand (D) of New York, seen here at a debate in 2010, is pushing for legislation to reduce the cost to students of education loans.
Source: http://www.csmonitor.com/Business/Latest-News-Wires/2014/0127/Student-loans-at-a-lower-interest-rate-Senator-makes-a-new-push

Student loans at a lower interest rate? Senator makes a new push.

Kirsten Gillibrand. Photo: AP Photo/Charles Dharapak Sen. Kirsten Gillibrand on Sunday challenged President Obama to back her plan to ease student loan debt in his State of the Union Address. All of us here are urging the president to make a commitment to help tackle the mountain of student debt that is crippling the lives of so many of our young people, said Gillibrand (D-NY). Flanked by education advocates at her New York City office, Gillibrand touted her bill, which would allow students to refinance federal college loans at lower interest rates. Refinancing of federal student loans is currently prohibited.
Source: http://nypost.com/2014/01/27/gillibrand-challenges-obama-to-ease-student-loan-debt/

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