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For generations, one of the most eagerly anticipated rites of passage for teenagers was getting their first driver’s license. I still remember it as one of the most exciting days of my entire life

Cut the Confusion So Students Know Their Risks – New York Times

How did we get to the point where student loan debt has ballooned to more than $1 trillion? We all know that college has become more expensive, but a less-talked about reason is that many students and families weren’t able to cut through the fine print of the financial aid process

Block student-loan rate hike – MiamiHerald.com

Higher education is not a luxury, it is an economic imperative that every hardworking and responsible student should be able to afford. Yet tuition and fees measured in constant dollars at our nation’s colleges and universities have more than doubled over the past two decades, and college — the clearest path into the middle class — is fast becoming an impossible dream for too many Americans. On July 1, the interest rates on subsidized Stafford student loans are slated to double from 3.4 percent to 6.8 percent.

San Jose State Rally Rails Against Increase in Student Loan Rates – LoanSafe

(Source: Sharon Noguchi San Jose Mercury News, Calif. (MCT) — The topic was relevant, timely and personal, yet a rally Thursday at San Jose State to rail against escalating federal student loan rates attracted barely more students than media, speakers, their supporters and staff members. Interest rates on subsidized student loans are set to double to 6.8 percent July 1

Holt Joins Call to Stop Student Loan Rate Hike – Patch.com

Editor’s Note: The following is a news release from U.S. Rep. Rush Holt’s office

Student Loans Drive Up Tuition, Create Demographic Time Bomb and Higher … – OpenMarket.org

Professor Glenn Harlan Reynolds writes in the New York Post about how student loan programs have contributed to skyrocketing debt and rising defaults:The student-debt problem is that too many students are borrowing too much money to finance educations that won’t earn them enough to repay the loans. This leads to misery. A recent Wall Street Journal story noted that many students are postponing marriage, children and home-buying because of the difficulty — in some cases, the impossibility — of keeping up student-loan payments.

With student loan debt at record levels, new videos make financial aid easy – New York Daily News

Xanthos CUNY students, like these recent Baruch College grads, are learning about financial aid from video shorts. The complicated topic of financial aid would make even the smartest student cringe.

Five steps to a prudent student loan – Washington Post (blog)

Here is a guest post by Jonathan Burdick, dean of admission and financial aid at the University of Rochester. (Butch Dill/Associated Press) Seeking several thousand dollars in student loans can be a challenging task for a wide-eyed 18-year-old who is about to graduate high school. In most cases, funding a college education is by far the most expensive purchase they will have made to date. But while it may seem like a daunting task, following these steps will arm students with additional knowledge to protect their financial future.

UC paying out $9.2M for faulty student loan system – Cincinnati.com

The University of Cincinnati has paid $9.2 million to former students, banks and the federal government, the remnants of a faulty student aid tracking system from 2002 to 2005.Under orders from the Department of Education, UC has sent letters to 2,389 former students who got student loans they may not have been entitled to receive, and some of them might have to pay taxes since UC technically is forgiving the loans.The letters refer to the federal law known as Title IV, which regulates all federal student aid.UC says audits show that the system has been fixed, but for those three years UC allowed students to receive federal financial aid when the university couldnt confirm if they had withdrawn from classes or actually attended them.About $4.9 million will go to students or to banks, depending on how much of the loan has been repaid.Included with this letter is a check made out to you for the Returned to Student amount, the letter says.

The Prohibitive Cost of Higher Education: A Racket? – Wall Street Pit

I have often thought, “If education is expensive, try ignorance.” I strongly believe that the key to future prosperity is a quality education. That said, there is increasing evidence that the costs connected to higher education have ratcheted higher at an unsustainable pace