Tag Archives: Student Lending

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AFR Statement: The Senate Looks at Student Loan Debt

40 million Americans currently owe some $1.2 trillion in student loan debt, which is making it hard for people to buy cars, homes, and even daily necessities. In one recent survey, 29 percent of borrowers said that student loans had caused them to delay getting married…

So this is a problem that fully deserves the double-barreled attention it is getting from the Senate. And more: it deserves meaningful action from regulators and legislators alike.

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AFR Calls for Strong Action Against For-Profit Colleges that Exploit Students and Federal Aid

“We strongly support the Department of Education’s efforts to keep federal funds from being used to support career education companies that routinely fail to deliver on their promises, leaving students with unmanageable debt. We urge you to stand by the thrust of the regulations the Department proposed in March, and to bolster those regulations in several key ways.”

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AFR in the News: Obama To The Rescue On Federal Student Loans, But What About Private Loans?

Obama To The Rescue On Federal Student Loans, But What About Private Loans? – Eva Pereira (Forbes)

“The new Consumer Financial Protection Bureau (CFPB) aims to make the education lending market much more transparent with its KnowBeforeYouOwe project, but for those already knee deep private debt, there is little recourse. Several distressed borrowers shared their private loan struggles on a recent call organized by the Americans for Financial Reform, a consumer rights coalition.”

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Syracuse Students Say No to Chase CEO

Students organize opposition: Group plans protest, petition against JPMorgan CEO Jamie Dimon The Syracuse Daily Orange reports that students have begun to organize to oppose upcoming commencement speaker Jamie Dimon.  The paper states: About 30 students gathered in Schine Student Center’s Panasci Lounge on Wednesday

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Health Care Reform Also Reforms Student Lending

The Senate passed and the President signed into law a bill which will eliminate the Federal Family Education Loan (FFEL) student lending program.  Instead, all government loans will use the “Direct” lending program.   AFFIL applauds this change, as it will eliminate the subsidies to the

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Coalition Letter to Rep. Frank

October 8, 2009 The Honorable Barney Frank Chairman Committee on Financial Services United States House of Representatives Washington, DC 20515 Re: School Loan Exemption in H.R. 3126 Consumer Financial Protection Agency Dear Chairman Frank: Thank you for your leadership in advancing legislation to create a