We support reforms to the financial marketplace to curb bad practices by banks and lenders.
Student Loans
Publications
- CU urges Senate to pass student loan rate cap extension
Student loans are necessary in order for most students and families to attend college at all
- Factsheet: Don’t Double the Rate on Stafford Loans
Students and families in the U.S. are struggling to afford the skyrocketing costs of a college education, and are now forced to take out record amounts of student loans
- Senate letter to take action to prevent interest rates from doubling on student loan borrowers
The interest rate on subsidized Stafford loans is set to double from 3.4% to 6.8% for new loans starting July 1, 2012
- Dept. of Ed. Releases Forms for PubIic Service Loan Forgiveness Program
On January 31, 2012, the U.S. Department of Education released important new information about how student loan borrowers can certify that they are on track toward qualifying for the Public Service Loan Forgiveness Program (PSLF). The PSLF website now includes an “employer certification” form, to help borrowers make sure that they are meeting the Department’s requirements to qualify for PSLF. Continue Reading
- 6 Tips for Graduating with Less Student Debt
The cost of higher education is skyrocketing, and students often end up graduating with massive debts as a result. Student loan borrowers are also defaulting on their loans at a higher rate than ever before.
- It’s time Washington looks out for us!
If you don’t think it matters having an aggressive watchdog in Washington looking out for consumers, just consider your credit card bill.
The full House just approved a new financial sheriff – now we need the Senate to do the same so we don’t have to endure more abusive tactics. Tell your Senators you want a watchdog who looks out for us.
- High-Cost Credit
Are you in debt with small, short-term loans?
- Low cost ways to fund your college education
- Student Loans
Private Student Loans Nearly 50 percent of undergraduate private student loan borrowers fail to exhaust their low-cost federal student loans to finance their college education. Families need help understanding college financing.
- How to choose a private student loan
Use private student loans to pay your college costs only after you have exhausted your federal loans. Federal loans are less expensive than private loans.
Press Releases
- CU: Student loan rate cap should be extended
Interest rates on subsidized Stafford student loans set to double in July unless Congress acts
- Familes need help understanding college financing
CU issues report on how to improve student loan disclosures and counseling
Blog Posts
- Bill To Extend Student Loan Rate Cap Blocked
The Senate bill to prevent interest rates on subsidized Stafford student loans from doubling to 6.8 percent was blocked by a filibuster. From the AP story: The 52-45 vote to begin debating the legislation fell eight votes short of the 60 needed to proceed and stalled work on an effort both parties expect will ultimately Continue Reading
- Colleges Confuse Students with Financial “Aid” Letters
Students and their families across the country are currently making big decisions about where to go to college. But as many high school seniors face a May 1 deadline to decide, families are struggling to understand college financial aid letters, which can be murky and confusing. Yesterday, Bloomberg News reported that many families are receiving confusing Continue Reading
- Don’t Double The Student Loan Rate!
Interest rates on new subsidized Stafford student loans are set to double to 6.8% in July if Congress fails to act affecting about 7.4 million students. Americans now owe over $1 trillion in loans for their college educations – more than we owe in total credit card debt. Students and their families are taking out Continue Reading
- Why Student Loan Debt Matters…To The Economy
This past weekend, the San Francisco Chronicle highlighted the harsh realities of student loan debt – and how it impacts the nation’s economic recovery: “In her 20s, Connie Swain shelled out a lot of money to a private vocational school to learn computer skills, relying on student loans for tuition and expenses. ‘I was young Continue Reading
- Student Loans Burden Older Americans, Too
Think it’s only 22-year-olds who are stressed out about student loans? Think again. The Washington Post reported yesterday that older Americans, including senior citizens, are also bearing the burden of student loans. Americans 60 and older still owe about $36 billion in student loans – and more than 10 percent of those loans are delinquent. As a result, it is Continue Reading
- Student Loan Borrowers Struggle to Understand Loan Terms
More and more, students and their families are turning to student loans to finance the ever-rising costs of higher education. According to the Wall Street Journal, new estimates from the CFPB put total outstanding student debt at over $1 trillion. However, student loan borrowers are finding that the consequences of taking out these loans is Continue Reading
- Fed Study Shows Student Debt Burdens Growing
Yesterday, the New York Times reported that a new study from the Federal Reserve Bank of New York illustrates the increasing burdens student loan borrowers face. According to the report, from the second to third quarter of 2011 alone, total outstanding student loans grew 2.1 percent - from $852 billion to $870 billion. Over the same time period, other types of Continue Reading
- Bankruptcy Lawyers: Student Loans May Be the Next “Debt Bomb”
With outstanding student loans topping $1 trillion – now surpassing credit card debt – and few options for relief, yet another group of experts is weighing in to warn of a student loan crisis. The National Association of Consumer Bankruptcy Attorneys just released a survey and a report showing that bankruptcy lawyers are seeing a Continue Reading
- President Obama Lays Blueprint for Keeping College Affordable
President Obama stopped by the University of Michigan on Friday to announce a comprehensive plan to rein in the skyrocketing costs of going to college. The plan includes key reforms to reduce the need for costly student loans. Relief from high student debt loads is clearly needed – student loan debt in the U.S. Continue Reading
- College Students: Warnings about the Higher One Card
Campuses across the nation have been adopting the Higher One card for their students. While these cards may be providing cost savings to college institutions, students are finding huge problems.
Worried about retirement?
The stock market has been unusually volatile, plunging hundreds of points, creeping back, only to plunge again. It is hard to stay disciplined about saving when every dime you’ve invested can evaporate in a day.
What is your biggest concern about your own retirement? We want to hear from you.
Where to complain
Online, by mail, phone or fax... Agencies need to hear from you!