Streams

Student Loan Rate Changes Explained

Monday, July 02, 2012

student loan debt burden (thisisbossi/flickr)

Jason Delisle, director of the Federal Education Budget Project at the New America Foundation, discusses the deal struck in Washington to drop student loan rates and why grace periods disappeared yesterday.

Comments [4]

Sandy from Ocean, NJ

I have a friend who has been diagnosed with severe emotional issues dating back at least to 2005. She is on Medicare and SSI and has been hospitalized on occasion. She is also heavily medicated.
She is in default of her student loans from graduate school and since she has only enough income to pay for housing, food and physician co- pays she has not made payments to the loan. She is being hounded by the student loan collection agency and the stress is making her condition worse. Her physicians advised her, and still do, not to seek employment to help make some payments on the loan.
She’s tried to contact the organization that gave her the loan, but they immediately turn the correspondence over to the collection agency.
Where and whom can she seek advice from to help get some help and a resolution to this problem?

Jul. 02 2012 11:25 AM
Tatiana from Weehawken

What about students who have paid off their student loans in the past and have now chosen to pursue graduate studies and take out new loans? Why can't these students get a lower rate for good credit history? Wouldn't that be fair? I am returning to school because in response to tough employment/economic climate and I feel like I just got whammied!

Jul. 02 2012 10:41 AM
Sheldon from Brooklyn

"still paying 7% on loans from the 1980's" Ouch!!!

Modern day share-cropping.

Jul. 02 2012 10:16 AM
Andrea Shane from Manhattan

Would love to know if I can get the 3.4% rate, I am still paying 7% on loans from the 1980s...is there a refinancing process?

Jul. 02 2012 10:09 AM

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