To keep grads solvent, take the middleman out of student loansBy Chris Hicks The mounting student debt crisis could cause serious economic damage to the United States. Rising college costs and declining financial aid at both state and federal levels have significantly contributed to the problem. A good deal of responsibility, however, belongs to the financial institutions that service federal student loans, according to a new report. Millions of students use loans underwritten by the Treasury Department and granted by the Department of Education to help make college a reality. Once the loan is approved, however, borrowers usually deal with third-party servicers — and that’s where the trouble often begins. “To keep grads solvent, how about just providing a quality education that leads to a quality career? Many students and graduates cannot pay their loans, no matter who is holding the note, because they were never taught the attitudes, knowledge and skills promised to them during the admissions process.” Read the full article here: http://blogs.reuters.com/great-debate/2014/07/31/to-keep-grads-solvent-take-the-middleman-out-of-student-loans/
Trackback from your site.