Private student loans international schools

Jessica Crowley used to dwell on an unpleasant thought. When her children began college, she'd still be repaying her own student loans.  But a few months ago, the company where she works announced a new benefit: student loan assistance.  Now, New York Air Brake, which makes train control systems, pays Crowley $166 a month toward her student loan balance, which means she'll be debt-free sooner than she thought.  "It's going to shorten my loan life by a couple of years," Crowley, 30, said. "It's going to be a big difference."  PepsiCo to Buy SodaStream for $3.2 Billion Student loan assistance, which started as a niche offering by a handful of companies, is finding its way into the mainstream menu of workplace benefits.  "This is certainly emerging as a new and very important benefit," said David Pratt, a professor at Albany Law School who studies employee benefits.  This year, Fidelity began to offer businesses a way to contribute to their workers' … [Read more...] about Student Loan Assistance May Become as Popular as 401(k) Plans

On November 13, the IRS issued Notice 2015-78, providing favorable guidance on topics of interest to providers of “supplemental” or “alternative” student loans financed with tax-exempt bonds and to underwriters of such student loan bonds. Such guidance confirms that loans financeable under such programs include (i) parent loans as well as student loans and (ii) loans that refinance or consolidate prior loans that were or could have been financed on a tax-exempt basis.Tax-exempt bonds used to finance student loans, so-called “qualified student loan bonds,” come in two flavors under the Internal Revenue Code, those issued to finance federally-guaranteed loans made under the Federal Family Education Loan Program (“FFELP”) and those issued to finance certain loans issued under programs created by the states, generally known as “supplemental” or “alternative” loan programs. While the FFELP program, historically much … [Read more...] about Helpful News from IRS on Student Loan Bonds

There’s no doubt that college is expensive. Tuition and fees for a four-year private college averaged $35,830 in 2018-19; at four-year in-state public colleges, it was $10,230, according to the College Board. And that doesn’t count room and board or other expenses. Few families have the cash to cover it, and that’s where borrowed money often comes in. On average, loans cover 24% of the tab when savings, financial aid and scholarships fall short, according to Sallie Mae’s 11th annual “How America Pays for College” report. As a result, student debt has reached record proportions, with $1.6 trillion in loans outstanding. And that burden is not just shared by students. Increasingly, parents are borrowing to make up the difference. While the annual limit on federal student loans is $5,500 to $7,500 depending on your year in school, parents can take out up to the maximum of the cost of attendance (minus federal student aid or loans offered directly to the … [Read more...] about The Latest Victims of the Student Debt Crisis — Parents

The Department of Education (ED) recently delivered a letter to the Consumer Financial Protection Bureau (CFPB) providing notice of its intent to terminate the Memoranda of Understanding (MOUs) between the agencies. The letter is highly critical of the CFPB. The sharp rebuke proclaims ED’s “full oversight responsibility of federal loans” and does not explicitly salvage any part of the agencies’ former cooperation.Signed by Acting Assistant Secretary of the Office of Postsecondary Education Kathleen Smith and Chief Operating Officer of Federal Student Aid (FSA) Dr. A. Wayne Johnson, the letter was addressed to Director Richard Cordray and dated August 31, 2017. The letter provides that the MOUs will terminate thirty-days after the date of the letter—on September 30th, 2017—as provided by the terms of the MOUs.The letter references two specific MOUs: the “Memorandum of Understanding Between the Bureau of Consumer Financial Protection … [Read more...] about ED Rebukes CFPB “Abuse” with Termination of MOUs, Announces Expansion of Internal Oversight

With the recent news that some BigLaw starting salaries are rising to $190,000, it’s no wonder that law school continues to be a top destination for recent college graduates. However, the truth behind those starting salaries—and given the volatility of the legal job market and the effects of globalization and technology on the business of law—should give one pause before taking out $200,000 in school loans. So the question remains: Should you go to law school? The answer according to two legal industry experts? It depends. Nicole Black and Heather Morse are two leading voices in the legal industry when it comes to discussing business of law trends, from the intersection of technology and the practice of law to the inner workings of successful law firms. Both are frequently asked for their advice by potential students considering law school. Here’s what they have to say about the wisdom of attending law school in 2018. Nicole: I recently received an email from a … [Read more...] about An open letter to potential law students: Know the truth