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States should oversee for-profit schools, says NCLC

The National Consumer Law Center just released a report proposing recommendations for state governments to increase oversight of for-profit schools. For-profit schools have been a problem for student-loan borrowers because tuition tends to be fairly high while graduation rates are low and post-graduation employment rates also are low.  As a result, NCLC, a consumer advocate… Continue Reading

Student loan debtors less likely to buy property, says the NY Times

On the front page of Saturday’s Real Estate section, The New York Times has done a decent job of tying together the student loan crisis and debtors’ resulting lack of participation in the larger economy, although I think they could have picked some better examples. Admirably, the article includes a quote from one student loan… Continue Reading

Report: Black recent college grads more likely to be un- or under-employed

In May 2014, the Center for Economic Policy and Research published a report entitled “A College Degree is No Guarantee,” which focuses on the experience of black college graduates in the labor market. Here’s a breakdown of the executive summary:  In 2013, the unemployment rate for black college grads between the ages of 22 and… Continue Reading

The trouble with NJCLASS loans

 In my view, NJCLASS loans create a special set of problems. The following is meant as an introduction to just a few of them. If you don’t already know, NJCLASS loans are New Jersey-based student loans offered to New Jersey residents to attend in-state or out-of-state schools or to out-of-state residents to attend New Jersey… Continue Reading

Is student loan refinancing on its way?

          Sen. Elizabeth Warren, a champion of consumer rights, has introduced a new bill that, if passed into law, would allow people to refinance Federal or private student loan debt, similar to the way people can refinance mortgages or car loans.  Refinancing student loans would help if interest rates on student loans drop.… Continue Reading