A report released this month on indicates that while average college debt levels reached $23,200 for the graduating class of 2008, there is an extremely wide range of variation among student debts loads in different parts of the country and at different school. It’s not very enlightening to speak of an “average” college debt when average debt levels at specific institutions vary from $5,000 to $106,000. Read the full article

College graduation season, which lasts for several weeks, is upon us here in the Boston area. According to the National Postsecondary Student Aid Study (NPSAS), graduating seniors with educational debts carry an average debt load on the order of $20,000. More and more, college students are beginning their working lives with fairly heavy debt loads. It's more important than ever for newly-minted grads to hit the ground running with a plan for their finances. Read the full article

Predators keep an eye out for weakness in their prey. Now that many lenders have left the educational loan market, students and parents will have a harder time finding loans. It’s likely that con artists will take advantage of the situation by cranking up the level of phony financial aid and loan solicitations. SmartMoney.com has a helpful article that decribes college funding flim-flam schemes. The article also points out some useful resources for families seeking scholarships and other sources of college funding. Read the full article

Recent changes to the PLUS federal student aid program should provide last-minute help for families seeking to fund college or graduate school expense this fall. In light of the failure of the Massachusetts Educational Finance Authority to secure funding for a new round of college loans, students who were counting on MEFA loans are scrambling to find an alternative. With many banks withdrawing from the education loan marketplace, options for loan funding have been shrinking this year. Read the full article

The Massachusetts Educational Financing Authority (MEFA) announced late last month that it’s unable to raise funds needed to provide fixed-rate private education loans, as it has in the past. Families counting on MEFA loans will be scrambling to find other funds in the next few weeks unless a plan proposed by Governor Deval Patrick succeeds. At the end of the post I offer some last-minute ideas for families who will be facing a funding crunch if MEFA loans do not come through this fall. Read the full article

The studentloanconsolidator.com blog noted a while back that new rates for Stafford and PLUS loans have been set; these are based on the Treasury Bill auction rates. There's further information in their Stafford loan blog. Starting July 1st, consolidation loan rates will drop significantly. Read the full article

Page 1 of 1

Add to Technorati Favorites
Return to The FFS Blog Home Page

And now, to keep my lawyers happy: This site is for educational and informational purposes only. Nothing contained here should be construed by anyone as an invitation or solicitation to buy or sell any security. This site does not contain personalized legal, tax, investment, or financial advice. Users of this site should consult with a qualified adviser to obtain advice suited to their personal circumstances. Any links provided here to other web sites are for informational purposes only. We take no responsibility for the accuracy or content of linked sites.

COPYRIGHT THOMAS A. FISHER © 2008 - 2009