Understand Calls for Loan Repayment Reform

However, they provide no evidence that schools are planning to do this, and the Student Loan Ranger finds it far-fetched that schools would embrace such a logistically difficult and ethically and legally questionable scheme or that the Department of Education would allow them to do so. [Learn which law degrees have the best return on investment .] Based on these arguments, the authors propose capping Public Service Loan Forgiveness at $30,000 and instituting an aggregate limit of $75,000 for all federal loans. Capping Public Service Loan Forgiveness a broad-based program that is available to anyone, not just lawyers or graduate and professional students, willing to commit to a long-term public interest career would limit the ability of millions of middle- and lower-class students to dedicate their lives to public service. Limiting the availability of federal loans would force these students to rely on private student loans, which lack vital borrower protections and are the equivalent, as the Student Loan Ranger sees it, of paying for a higher education on a credit card. Isaac Bowers is a senior program manager in the Communications and Outreach unit, responsible for Equal Justice Works’s educational debt relief initiatives.
Source: http://www.usnews.com/education/blogs/student-loan-ranger/2013/08/21/understand-calls-for-loan-repayment-reform

Government Switches Student Loan Servicers: What You Need to Know

Its counterproductive and ultimately not student-friendly to indenture the Dreamers to further debt and financial uncertainty; there’s a reason they are actively seeking financial assistance in the first place. They [the Dreamers] have already spent good money on their education and training and they should be empowered to use those skills to further their careers and better their lives, says Founder Casey Wallace. But Piglt is not just for individual Dreamers and Believers. Educational institutions and organizations (both for- and non-profit) can use Piglt as well. There are so many wonderful educational organizations that are unfortunately very underfunded, lacking alumni participation, http://www.obamastudentloanforgiveness.net and in of need assistance; from elementary school and beyond. Weve created the perfect solution to help anyone fundraise, build community, and improve the lives of people everywhere, says Founder Vidya Chokkalingam. If youre looking for the best and easiest way to raise money for your present or past education, network with members from your alma mater, or are looking for find qualified candidates with specific skills, Piglt is the answer.
Source: http://www.seattlepi.com/business/press-releases/article/Solving-the-Student-Loan-Crisis-Piglt-Campaigns-4752997.php

Solving the Student Loan Crisis – Piglt Campaigns are Live

If your reduced payment under IBR does not cover the interest on your loans, the government will pay that interest on your Subsidized Stafford Loans during your first three years in IBR. … A partial financial hardship is when the 10-year standard monthly payment on what you owed when you first entered repayment is more than 15% of discretionary income. You must have a partial financial hardship to be eligible for IBR. …
Source: http://www.theatlantic.com/politics/archive/2013/08/the-white-house-wants-to-help-you-make-smaller-student-loan-payments/278948/

Student Loan Alliance (SLA) Partners with MortgageKeeper Referral Services to Provide Broad Resources to Distressed Borrowers

The MortgageKeeper platform puts these resources within reach for our counselors to provide comprehensive solutions and directly provide borrowers easy access. More information about the Student Loan Alliance can be found at http://www.studentloanalliance.org . About the Student Loan Alliance The Student Loan Alliance (SLA) is a nonprofit organization focused on developing long-term solutions to address the student loan crisis with a key focus on leveraging independent nonprofit counselors as trusted advisors. Alliance members deliver efficient counseling and timely assistance by implementing best in class systems and processes. The student loan crisis affects many households across the country and SLA is committed to addressing the crisis by promoting partnership, developing effective outreach and awareness campaigns, and providing streamlined education and counseling. About MortgageKeeper Referral Services: MortgageKeeper Referral Services is the only platform dedicated to connecting consumers to best-in-class local resources. Trusted by top servicers and housing counseling agencies, our applications power more than 3,500 referrals a day in 160 markets throughout the United States.
Source: http://www.sfgate.com/business/press-releases/article/Student-Loan-Alliance-SLA-Partners-with-4750970.php

The White House Wants to Help You Make Smaller Student-Loan Payments

“Borrowers aren’t being notified until the transfer is just about to happen or has already happened. That can be really scary for borrowers.” How to Prepare for the Move Though the Education Department hopes the transition will go smoothly, as stated in the announcements, those with student loans may want to take a proactive approach to the changes. “People need to be careful and make sure everything transfers correctly,” said Heather Jarvis, a student loan expert. Jarvis said past transfers have yielded numerous reports of errors. “Whether or not their loans are transferred, people should periodically check that their loan servicers’ records reflect what they expect.” Many services, like automatic payments and correspondence preferences, will not carry over to the new servicer.
Source: http://abcnews.go.com/Business/government-switch-student-loan-servicers/story?id=19975798

Obama tackles student loan crisis

Obama, in his shiny armoured bus, set off on a two-day tour of gritty upstate New York and Pennsylvania, trumpeting economic themes that helped him win re-election last year. The president announced what his aides billed as an ambitious plan to tackle often astronomical costs for college tuition, which are outpacing many families. He proposed measuring college performance through a new ratings system that would help prospective students decide which schools provide the best value. He called on Congress to tie federal student financial aid to those colleges which provide the best bang for buck. The ratings, which Obama wants to be in place for the 2015 school year, would calculate ratings on criteria including access, affordability of tuition, the amount of loan debt of students and graduation rates and graduate earnings. Obama said that a higher education remained the best ticket to upward mobility in America. But he warned that soaring cost of college in some cases up 250 per cent for a four-year course over the last three decades was pricing many families out.
Source: http://news.in.msn.com/international/obama-tackles-student-loan-crisis

The hidden truth about student loans

Even a very high default rate may not dissuade the government from continuing to make mountains of credit available to naive young people. If the DOE had any skin in the game, says [StudentLoanJustice.org Founder Alan] Collinge, if they actually saw significant loss from defaulted loans, they would years ago have said, Whoa, we need to freeze lending, or, We need to kick 100 schools out of the lending program. Turning down the credit spigot would force schools to compete by bringing prices down. It would help to weed out crappy schools that hawked worthless degrees in bullshit. It would also force prospective students to meet higher standards not just anyone would get student loans, which is maybe the way it should be. Much like the Affordable Care Act and the attempt at fixing healthcare, Obamas new proposals are barely even a stopgap compared with the enormous tidal wave of unsustainable debt young Americans are accumulating. Even if fully enacted, this would only be the tiniest first step down a very long road but if we want to fix the student loan crisis before it imperils the entire American economy, we need to introduce greater transparency and accountability to our unconscionably expensive (and secretive) university system.
Source: http://www.salon.com/2013/08/23/the_hidden_truth_about_student_loans/


Easy-Forex Now Offers Multiple Assets to Trade in, Reports ForexMinute

At present, the currency has stalled just ahead of the psychological 1.99 threshold. Its only a matter of time before the dollar gets its second wind, presumably from North America. Promising Data Buoys Euro The 17-member single currency has not been immune to the dollars flight. Already this morning the EUR has endured its own wild ride as investors digested mixed French, German, and Eurozone manufacturing surveys. The EUR happened to test its daily low after the slowdown in the French private sector deepened this month and while their manufacturing activity dipped to a two-month low. However, Germany, the euros backbone, has attempted to come to the embattled currencys rescue.
Source: http://www.forbes.com/sites/deanpopplewell/2013/08/22/forex-traders-face-mixed-fed-views-as-emerging-markets-stumble/

Boosting forex inflows ‘key’ to supporting Indian rupee: Barclays

While the relationship between the US dollar and its Taper interest and the S&P 500 with its proclivities towards moral hazard remains my top concern, there are trade opportunities that don’t require a full-scale fundamental drive to play out. In today’s video, we discuss the fundamental contradiction between Japanese yen and New Zealand dollar setups; and why they can both play out in these markets. Find out what event risk can threaten the trade setups discussed in today’s video with the DailyFX Economic Calendar . Market conditions change, and our strategy should reflect those changes. We have coded the DailyFX-Plus strategies for Breakout, Range and Momentum to adapt to these market shifts. Sign up for Johns email distribution list, here .
Source: <a review href=’http://www.dailyfx.com/forex/video/daily_news_report/2013/08/23/Forex_USDJPY_and_EURNZD_Offer_Trades_for_Different_Market_Directions.html&#8217; >http://www.dailyfx.com/forex/video/daily_news_report/2013/08/23/Forex_USDJPY_and_EURNZD_Offer_Trades_for_Different_Market_Directions.html

FOREX-Dollar rises to near 3-wk high vs yen, higher US bond yields support

The headline July CPI figure is expected to pick up to a 1.4 percent pace below target but a yearly high. British Pound: Will the 2Q GDP Update Catch the Markets Attention? UK markets were more staid then their main-land Europe counterparts Thursday. The 10-year gilt yield passed the session little changed while the FTSE 100s 0.9 percent advance was measurably tamer than the DAX, CAC40 and Euro Stoxx indexes. Given the empty news ticker and economic docket, the sterling had to fall back on its passive effort to recover the ground lost through the opening months of the year due to recession and QE speculation. However, BoE member Martin Weales remarks Wednesday that a QE-based program was still an option seems to have curbed that automatic drive.
Source: http://finance.yahoo.com/news/forex-dollar-extends-rebound-loses-021500642.html

Forex: Dollar Extends Rebound but Loses Momentum Before Key Breakouts

The dollar rose 0.3 percent to 98.98 yen and had touched an intraday high of 99.10 yen, it’s highest since Aug. 5. The dollar was testing resistance right around 99.00 yen, the 100-day moving average, and a focal point was whether it could manage to make a clear break above that hurdle. “Dollar/yen should continue to resolve topside as U.S. Treasury yields move gradually higher,” said Jeffrey Halley, FX trader for Saxo Capital Markets in Singapore.
Source: http://www.reuters.com/article/2013/08/23/markets-forex-idUSL4N0GO08620130823

According to the global financial services major, the two main concerns that have driven the rupee’s weakness in recent weeks expectations of Fed tapering and India’s ability to fund its current account and fiscal deficits will continue to hit sentiment. Currently, the key to support the rupee is boosting near-term forex inflows. This would help to arrest negative sentiment toward the rupee, reverse part of the recent bond outflows, and curb near-term rupee weakness, it said. “Issuance of forex-denominated bonds or a deposit scheme targeting nonresident Indians (NRIs) remain the most potent options, in our view,” Barclays said. These programmes could attract USD 15-20 billion of inflows relatively quickly and provide much needed breathing space for policymakers to address India’s long-term structural problems, it added. “Policymakers, however, still remain reluctant to introduce these schemes,” Barclays said.
Source: http://www.indianexpress.com/news/boosting-forex-inflows-key-to-supporting-indian-rupee-barclays/1158722/