Betsy DeVos Picked A Student Loan CEO To Run The Student Loan System

Betsy DeVos Picked A Student Loan CEO To Run The Student Loan System

When the Trump administration announced its pick to run the $1.3 trillion federal student loan system on Tuesday, there was one notable thing about the candidate that wasn’t mentioned in the press release: He’s the CEO of a private student loan company. The Education Department’s statement described A. Wayne Johnson as the “Founder, Chairman and former CEO” of a payments technology company called First Performance Corporation. It noted his PhD in education leadership, and Education Secretary Betsy DeVos, citing his dissertation, said he “actually wrote the book on student loan…

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Why Betsy DeVos Will Rewrite These Student Loan Forgiveness Rules

Why Betsy DeVos Will Rewrite These Student Loan Forgiveness Rules

The Trump administration announced Wednesday that it will rewrite two Obama-era rules intended to protect student loan borrowers. The U.S. Department of Education said new committees will be formed to rewrite rules for Borrower Defense To Repaying and Gainful Employment. Here’s what you need to know. What Is Borrower Defense To Repaying? Borrower Defense To Repaying allows students to have their federal student loans forgiven if a school employed illegal or deceptive practices to encourage the students to borrow debt to attend the school. This rule was scheduled to become…

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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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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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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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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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Kerala launches Rs900 crore education loan repayment scheme

Kerala launches Rs900 crore education loan repayment scheme

Bengaluru: Kerala has launched a Rs900 crore scheme to help students from families with annual income below Rs6 lakh repay their education loans. The move assumes significance as it comes at a time when students are suffering because of banks selling a large number of its “bad loans”, or loans that have turned non-performing assets or NPAs, to asset reconstruction companies (ARCs), which may charge a higher interest rate in turn. Bad study loans are a severe problem for banks in Kerala. Out of the Rs10,220 crore total educational loans…

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Kerala launches Rs900 crore education loan repayment scheme

Kerala launches Rs900 crore education loan repayment scheme

Bengaluru: Kerala has launched a Rs900 crore scheme to help students from families with annual income below Rs6 lakh repay their education loans. The move assumes significance as it comes at a time when students are suffering because of banks selling a large number of its “bad loans”, or loans that have turned non-performing assets or NPAs, to asset reconstruction companies (ARCs), which may charge a higher interest rate in turn. Bad study loans are a severe problem for banks in Kerala. Out of the Rs10,220 crore total educational loans…

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