Having arrived at a solution that both the Democrat-led Senate and Republican-dominated House can support, the student loan crisis appears to be on the way to a successful resolution. In fact, the compromise, which ties the interest rate on subsidized student loans to the market rate of 10-year Treasury notes but also puts finite limits on the maximum allowable rate, could arrive on President Obama’s desk as early as this week. This is welcome news not only for undergraduate students – whose subsidized Stafford loans dominated the headlines throughout the debate – but also for graduate students. Read the rest of this entry »
A bipartisan compromise from the Senate promises to resolve the student loan interest rate increase that went in effect earlier this month. Thanks to congressional inaction, the interest rate borrowers pay on government-subsidized student loans doubled from 3.4% to 6.8% on July 1.
Though all parties agreed that something should be done, neither side could agree on a solution to the problem and, as a result, the Senate has been unable to pass a bill to deal with the issue. Read the rest of this entry »
Attention US students: Key negotiators in the Senate announced late Wednesday night that they had reached a tentative deal to resolve the recent jump in student loan interest rates.
Though the legislation exists on paper only at the moment, because the agreement came from a round of talks between key Senators from both sides of the aisle, signs are good that a compromise plan will soon resolve the stalemate that led to a doubling of student loan interest rates on July 1st. This effect can mean relief for a US students whether they stay home this academic year – or whether they choose to go abroad.
Even though details are still emerging, a White House spokesman said that students and the families can rest assured that the compromise reached Wednesday will result in lower borrowing rates this fall. Moreover, the proposal would also limit how high those rates could go over time – a key sticking point that had stalled earlier negotiations. Read the rest of this entry »
Though the darkest days of the Great Recession may be over, the lessons it taught are still valuable. Indeed, it remains just as true now as in 2008 that college-educated workers are less likely to be unemployed than their lesser-educated peers and even if the United States unemployment rate is now well below its 2008 highs, the value of a college education is, if anything, higher.
Unfortunately, so too is the cost of higher education. If tuition increases seem like they affect all students equally, however, a recent report by the U.S. Department of Education reveals that the opposite is true – at least superficially. Read the rest of this entry »
Canada has long been one of the world’s most popular destinations for international students but international student recruitment may soon become official government policy if the authors of a new report have their way. The report – which is entitled International Education, a Key Driver of Canada’s Future Prosperity – was compiled by the Advisory Panel on Canada’s International Education Strategy and calls on that nation’s federal government to bolster the recruitment of international students because, in its words, “international education is a key driver of Canada’s future prosperity.” Read the rest of this entry »
The date, long dreaded by college students and campus administrators around the US, has finally arrived. Thanks to congressional inaction, students who take subsidized government loans after Monday, July 1st will see their interest rates double from 3.4% to 6.8%.
That means that the already high burden of student loan debt – the affected subsidized Stafford loans are government student loans primarily made to US students whose families’ make less than $50,000 – will only increase. Read the rest of this entry »
Though everyday purchases like groceries and gasoline are still accessible to cash-carrying consumer, nowadays there are many things which cannot even be paid for in cash. As a result, a bank account which allows consumers to pay for services like electricity, rent, and tuition with a check or check card is becoming increasingly necessary for domestic and international students alike.
While many students, regardless of their background, have already faced this problem by the time they start college, the same solutions that international students used in their home country may not work in the US. As a result, international students should plan to set up a bank account soon after they arrive in the US. Read the rest of this entry »
With all of the unique sights, sounds, and tastes that life in America has to offer, as an international student studying in the United States you have a lot to look forward to during your time abroad. Unfortunately, along with the excitement comes a few mundane tasks that, though less thrilling, are nevertheless necessary in order to make your integration into American society as smooth as possible. Opening a US bank account falls squarely into this category but it is something you should do sooner rather than later.
Why? Opening a bank account allows you to pay for services by check, debit, or even credit card. This is crucial because, unlike other countries, relatively few major services – such as rent, tuition or even renting a car for that road trip you have been dreaming of – can be paid for with cash. As a result, you should plan to set up a bank account soon after you arrive in the US. Fortunately, with proper planning opening a bank account in the US can be as easy as 1-2-3. Read the rest of this entry »
Between the intimidating coursework you have to complete, the complicated campus layouts you have to learn, and the new culture you have to navigate, being an international student can be as hard as it is exciting. To make matters worse, between travel, tuition, and housing, the cost of studying overseas is higher than ever. Happily, however, in addition to personal wealth and scholarships, a number of international student loan options are available to help you cover the cost of your international studies. Even better, though not all lenders will work with all international students or their chosen schools, a new tool can help you discover which loans will work best for you in no time. Read the rest of this entry »
Summer break is here – plan ahead! As temperatures rise life at many college campuses around the country are starting to wind down. Though summer break may seem like an ideal time to embrace a carefree attitude, because the summer term brings with it many changes to the normal pace of collegiate life, to best enjoy this time it is always a good idea to plan ahead. This is especially true if you plan to stay close to – or even continue attending – your school during the summer break. Here are a couple of questions to consider: Read the rest of this entry »