Student loans

4/25/2008 -- Over a year ago, Hillary Clinton called on the Bush Administration to address the growing problems in the subprime mortgage market. Instead of listening, President Bush stood by as the subprime crisis spiraled into a larger housing and credit crisis that is driving our economy downward.

Bill Clinton and Hillary Clinton: Photo by Chris Dunn (CC)    » read more »

February 5, 2008 -- WASHINGTON, DC— Today, the U.S. Department of Education informed Congress that seven Federal Family Education Program lenders will be allowed to resume billing for “9.5% loans,” the category of student loans under which lenders are eligible to receive an inflated 9.5% rate of return.    » read more »

Announces Student Borrowers’ Bill Of Rights, Will Increase College Access for Low-Income Students, Support for HBCU’s and HSI’s

1/25/2008 -- At a speech at Benedict College in South Carolina today, Hillary Clinton announced a plan to protect students and their families from predatory lending practices that have been increasingly prevalent in the private student loan market.    » read more »

Michigan Governor Jennifer M. Granholm today signed into law House Bills 5138 and 5139, which will allow the Michigan Department of Treasury to create a broker-sold Michigan Education Savings Plan (MESP) to complement the current direct-sold MESP program. The new broker-sold program will help meet the needs of parents, grandparents, and others who plan their investments through a financial professional.    » read more »

Lender To End Kickbacks And Co-Branding Agreements; Cuomo Establishes New Code of Conduct to Prevent False and Misleading Direct Marketing of Student Loans

Florida Attorney General Bill McCollum Joins Settlement

NEW YORK, NY (December 11, 2007) – New York Attorney General Andrew M. Cuomo today announced a settlement with a student loan consolidation company specializing in the direct marketing of student loans, the first such settlement in this growing segment of the student lending industry.    » read more »

Florida-based lender to end co-branding agreements involving NCAA Division I schools

December 11, 2007 -- TALLAHASSEE, FL – Florida Attorney General Bill McCollum today joined New York Attorney General Andrew M. Cuomo in announcing a settlement with a student loan consolidation company specializing in the direct marketing of student loans.    » read more »

Code will be presented to Board of Governors at upcoming meeting for approval

December 5, 2007 -- TALLAHASSEE, FL - Florida Attorney General Bill McCollum today unveiled a proposed Code of Conduct to protect Florida students from potentially unfair practices when they are applying for educational loans. The Code of Conduct will be presented to the Florida Board of Governors for its consideration at the Board’s meeting being held today and tomorrow at the University of Central Florida and, if approved, would be implemented at all of Florida’s public universities.    » read more »

November 19, 2007 -- WASHINGTON, DC— Today, Senator Edward M. Kennedy, Chairman of the Health, Education, Labor and Pensions Committee, made the following statement in response to the audit report released by the US Department of Education on student loans.    » read more »

Nov. 13 2007 -- AMA supports reforms for disabled patients: The AMA passed new policy supporting Medicaid reforms that would provide disabled patients with equal access to home and community-based services so that they can live as independently as possible. The AMA supports passage of congressional legislation, the Community Choice Act of 2007, that would achieve these goals. This policy was recommended to the AMA by the American Academy of Physical Medicine and Rehabilitation and the American Association of Neuromuscular and Electrodiagnostic Medicine.    » read more »

Senators question decision not to recoup payments that could have provided more aid for students

November 1, 2007 -- (Washington, D.C.) – Today, U.S. Senators Patty Murray (D-WA), Edward Kennedy (D-MA), Barack Obama (D-IL), and Byron Dorgan (D-ND), sent a letter to the Department of Education's Inspector General's Office asking for a complete accounting of the overpayments received by lenders as part of the 9.5 percent Special Allowance Rate program.    » read more »

Oct. 29, 2007 -- CHICAGO – In a letter to the U.S. Department of Education Secretary Margaret Spellings, the American Medical Association (AMA) urged her to postpone the elimination of the medical student loan deferment program. The program allows medical residents to defer payment on their loans until after residency training based on economic hardship criteria.    » read more »

October 22, 2007 -- Jefferson City, Mo. — The University of Missouri system, the state’s largest university system with 64,000 undergraduate and graduate students on four campuses, has adopted a code of conduct in an agreement with Missouri Attorney General Jay Nixon regarding its relationship with the student loan industry. The interim President of the University, Dr. Gordon H.    » read more »

10/11/2007 -- In the 21st Century, a college education is more important than ever. Hillary Clinton believes it's time for a new bargain with the American people – a bargain that gives all Americans willing to work hard the tools they need to get ahead. Her plan will make college more affordable and accessible so that every American who has earned it and wants to go has the chance to get a college degree.    » read more »

Warns Students About Fraudulent And Illegal Business Practices; Student Loan Marketing Companies Subpoenaed

New York, NY (October 11, 2007) - As part of an escalating investigation into direct marketing of college loans, New York State Attorney General Andrew M. Cuomo served subpoenas and document requests on thirty-three companies and lenders. The subpoenas seek information on the companies’ use of misleading and deceptive tactics to entice young borrowers seeking college loans.    » read more »

September 28, 2007 -- WASHINGTON, DC — Senator Edward M. Kennedy today commended the Senate’s passage by voice vote last night of legislation permanently extending the provisions of the Higher Education Relief Opportunities for Students Act, originally enacted in 2003. The Act authorizes the Secretary of Education to waive or modify any statutory or regulatory provisions on federal student aid for service members and others during a war or other national emergency.    » read more »