In a recent Huffington Post article, you can compare profits from student loans to those netted by some top earning companies. Here’s a spoiler: profits from loans are comparable to the combined profits of JPMorgan Chase, Bank of America, Citigroup and Wells Fargo. Although the author expresses hope this news will cause a response from [...]
A recent article in the Dissent discusses the ballooning costs of American colleges and universities. It examines the way that such institutions, although essentially non-profit institutions, are able to generate profits indirectly for others: namely, banks via student loans and real-estate developers. The article details exactly why this might be worrisome. Read more at Dissent.
This article from the Chronicle of Higher Education compares the costs of college to airplane tickets, since in both cases different people will pay different amounts for their seat. They include some interesting data and research. Read the full article here.
President Obama announced a new plan to allow for interest rate reductions for low-income borrowers and consolidators with Federal Loans; however, interest rates will double next July adding thousands of dollars in expenses during the life of a loan. Read more at The Chronicle of Higher Education.
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