HC seeks status report on farm loan waiver in Telangana, Andhra

HC seeks status report on farm loan waiver in Telangana, Andhra

HYDERABAD: The high court on Tuesday sought status reports from AP and Telangana on the implementation of farm loan waiver schemes. The bench of acting Chief JusticeRamesh Ranganathan and Justice T Rajani was dealing with three PILs urging the court to save distressed farmers from ending their lives. While AP informed the court that it had constituted an independent commission to look into the farm crisis, Telangana explained the steps it was taking in this respect. K Siva Ram Reddy, the party in person, told the court that a one-time…

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Students make beeline for loans from educational trusts

Students make beeline for loans from educational trusts

By Jyotirmoyee Ghosh If didn’t get the scholarsI hip, would’ve dropped a year,” says Anubhav Khamroi, who received Rs 2 lakh under Jindal Law School’s Savitri Jindal Global Scholarship in Delhi. Khamroi, a second year BA LLB student, got a merit-based scholarship after attaining 90% in the LSAT entrance exam. “The scholarship has really reduced the financial burden on my family ,” said Khamroi. Scholarships have become essential for middle-class students as cost of higher education has skyrocketed in recent years. At top institutions, the annual fees for professional courses…

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Education budget: A paradise lost

Education budget: A paradise lost

“But all was false and hollow; though his tongue Dropp’d manna and could make the worse appear the better reason.” John Milton, Paradise Lost, II.I.112 W e had a vision of a more perfect nation where democracy and equality were more than aspirations. We believed we could make this piece of paradise real with the unity of the people and the purposefulness of our governments. But this has been reduced to an endless series of false and hollow incantations whose lifespan is as transient as its denial in the next…

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Scheme for education loan repayment launched

Scheme for education loan repayment launched

The Rs. 900 crore Education Loan Repayment Support Scheme announced by the State government was formally launched at a function here on Tuesday. Speaking on the occasion, Minister for Education C. Ravindranath made it clear that the government would expand the scheme infusing more funds, if need be, to cover all deserving candidates. “The present amount was arrived at on the basis of preliminary statistics gathered for the purpose. A detailed survey will be conducted to bring in all the deserving candidates and we will earmark more funds for the…

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More funds will be released for education loan repayment plan: C Raveendranath

More funds will be released for education loan repayment plan: C Raveendranath

KOTTAYAM: Education minister C Raveendranath on Tuesday launched the state government’s education loan repayment support scheme at the Town Hall here. Speaking at the function he said, if needed the government will provide more fund and all eligible students will be brought under this scheme. Currently, the government has earmarked Rs 900 crore for the scheme aimed at helping financially backward students. The scheme envisages government support to those who availed education loan for a period of four years. He said that the borrower alone cannot be blamed for failing…

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Trump Administration Considers Moving Student Loans from Education Department to Treasury

Trump Administration Considers Moving Student Loans from Education Department to Treasury

The Trump administration is considering moving responsibility for overseeing more than $1 trillion in student debt from the Education Department to the Treasury Department, a switch that would radically change the system that helps 43 million students finance higher education. The potential change surfaced in a scathing resignation memo sent late Tuesday night by James Runcie, the head of the Education Department’s federal student aid program. Mr. Runcie, an Obama-era holdover, was appointed in 2011 and reappointed in 2015. He cut short his term, which was slated to run until…

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Trump’s budget seeks to eliminate one major benefit of federal student loans that costs billions

Trump’s budget seeks to eliminate one major benefit of federal student loans that costs billions

The Trump administration’s first budget proposes ending a program to encourage student-loan borrowers to go into public service by forgiving their debt to save an estimated $27 billion over the next decade. Here’s how the program works: If you take out a federal student loan, you have your loans forgiven after making 10 years of on-time payments and working for an employer the Department of Education deems to be serving the public good. Qualified employers include local, state and federal government agencies and nonprofit organizations. (Private lenders don’t offer this…

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Guidelines issued for education loan repayment support scheme

Guidelines issued for education loan repayment support scheme

Representative image THIRUVANANTHAPURAM: The state government has announced guidelines for availing the benefits of education loan repaymentsupport scheme announced in the 2016-17 budget. The scheme provides government support to those who find it extremely difficult to repay the educational loan even after the completion of their course. The support is for repayment of loans classified into various categories such as non-Non Performing Assets(NPA)/standard account with sanctioned loan up to Rs 9 lakh, loans up to Rs 4 lakh that turned NPA on or before March 31, 2016 and NPA loans…

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Education Dept. Keeps Obama Plan to Streamline Loan System

Education Dept. Keeps Obama Plan to Streamline Loan System

Under plans being considered by the Education Department, students at colleges and universities such as Columbia University in New York will see changes to how their federal student loans are managed.CreditKarsten Moran for The New York Times The Education Department on Friday took up an Obama-era plan to streamline federal student loan servicing by moving to a new, single platform for managing the loans of 43 million borrowers. The department had indicated it might jettison the previous administration’s initiative, which was intended to simplify a system that consumer advocates have…

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Department of Education Seeking Single Servicer for Student Loans

Department of Education Seeking Single Servicer for Student Loans

The Department of Education announced Friday that it would offer a contract to a single servicer to administer federal student loans. Currently, ED contracts with four different servicers to manage its $1.2 trillion student loan portfolio. Education Secretary Betsy DeVos ED released an amended contract solicitation for that future provider on Friday afternoon. “The amendment ensures high quality customer service, maintains all meaningful borrower protections, increases oversight and provides significant savings to tax payers,” James Manning, acting under secretary of education, said in a call with the press on Friday….

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