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Spring 2013 

The Student Loan Report 

 
Heather has provided training and education for university professionals since 2005. 
 
 
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Without Congressional Action, Federal Student Loan Rates Set to Double July 1st  


President Obama and House Republicans are seeking a more permanent fix  to the current federal student loan rate problem. Without Congressional action, subsidized Stafford federal student loan rates will double to 6.8% on July 1.

Last year, Congress 
extended the deadline that would have mandated federal interest rates to rise from 3.4% to 6.8% for undergraduates, effectively punting the issue down the road one more year.

Of the four proposed solutions currently being considered, three are market-based with variable interest rates, and one, offered by Senator Elizabeth Warren, sets student loan rates at 0.75% - the rate banks receive from the federal government.
 

Student Loan Debt Threatens Home Ownership, Entrepreneurship, and Retirement Savings   

 

Rohit Chopra, the student loan ombudsman for the  Consumer Financial Protection Bureau, notes that the skyrocketing rise in student debt is draining aspects of the broader economy.

Among Chopra's findings:  
  • Student loan borrowers are less likely to qualify for mortgages, thereby delaying home ownership
  • Student debt diminishes entrepreneurship and small-business growth by reducing access to capital
  • Student debt is a risk to retirement security.
Read the OpEd on Politico.com here.
What Every Class of 2013 Graduate Needs to Know

Hat TossMost graduating student loan borrowers have a grace period before their first loan payment is due, usually about six months.
    
Now is the time to inventory your loans so that you can make informed decisions about repayment:
  • How will you choose a repayment plan?
  • What are the tax implications of each plan?
  • Who will help you figure it all out?
Find out here.
ARE YOU READY TO GET A GRIP ON YOUR STUDENT LOANS?
Heather's serious legal expertise and plain talk unravels confusing student loan repayment information - once and for all.