Tag Archives: loans
Student Associations Lobby for Bill to Revamp Student Loans (Page 1 of 2)
Student governments and organizations at colleges and universities nationwide are pushing lawmakers to pass legislation that supporters say will make acquiring a higher education more accessible and affordable.
The legislative measure, known as the Student Aid and Fiscal Responsibility Act (SAFRA), was passed by the House of Representatives on Sept. 17 in a vote of 253 to 171, largely along party lines. All but four Democrats voted for the bill, and only six Republicans also voted in favor. The bill is expected to be put to a vote on the Senate floor on Oct. 15.
The bill, if passed, would essentially mean an overhaul of the current college financial aid system, eliminating one of the two existing national programs that provides students and parents with federal college loans.
This landmark legislation would shut down the long-standing Federal Family Education Loan Program (FFELP), which issues federally guaranteed student loans to borrowers via banks, state organizations, and other private lenders. The government currently pays these private FFELP lenders a subsidy for the federal parent and student loans these lenders issue.
Under the SAFRA bill, all federal student loans would be issued through the second national student loan program, the Federal Direct Student Loan Program, which issues federal college loans directly to borrowers through the U.S. Department of Education, with no third-party involvement from a bank or other FFELP lender and thus with no government subsidies being paid to a middleman.
SAFRA supporters, which include many college student organizations, say that ending government subsidies to third-party FFELP lenders to originate federal student loans will save taxpayers $87 billion over the next decade which means more funds available for federal college grants and other higher education initiatives.
“FFELP is expensive for the government,” Kathleen Templin, president of the Associated Students of Northern Arizona University, told the NAU online newspaper, JackCentral. “They give money to banks, which in turn gives money to students. But because banks charge interest rates, the government pays a lot of money for lenders to give money out” (“Student Aid Act Passes in U.S. House, Due for Senate,” JackCentral.com, Sept. 24, 2009).
In fact, SAFRA allocates $40 billion of the projected $87 billion in savings to expand the Federal Pell Grant program, which targets low-income students.
Students Applaud Expansion of Federal Pell Grants
Several student governments from across the country have joined forces with the United States Student Association (USSA), the main voice for students on Capitol Hill, to organize meetings with legislators to press the importance of financing higher education in building a better American work force.
“A lot of students are not able to go to school because of funding,” said Teresa Mabry, the chair for the Women of Color Caucus on the USSA board of directors. “If were not getting [our message] out there, its not going to work.”
Online Low Fee Payday Loan Direct Lenders
Nowadays, you probably hear rather a lot about payday loans, and not a lot of that talk is positive. In fact, you can indeed benefit a lot by using cash advances in a proper way. Applying with a payday loan direct lender that takes the time to teach you how the payday advances work and abides by the many commitments undertaken may help you see that payday loans may be a great blessing rather than a curse.
Tremendous cost is the most pressing concern, usually taking into consideration regarding cash advances. Obviously the borrower must pay something, however is it way too much to cover the outstanding quality of the product you get? In case you think over the potential expenses for your other available options, you would see that the payday advance is in the end a good bargain. Most times it’s the remarkable speed and amazing ease of the procedure that counts, not the cost.
The payday loan lender arranges to get you the money you truly need to get you through until your next pay check. In case you need to pay some additional expense extremely quickly, that is the most appealing and the least controversial option accessible these days. If you have ever applied for a traditional consumer loan, you will be pleased to see how extremely easy the payday loan application works. The cash would be delivered to you within a business day.
Payday loan online is probably the simplest way to obtain instant cash. The operators online would grant you use of the money you request instantly. Oftentimes the entire application can be submitted through the Internet, with no hassle of supplying additional papers, that saves you a lot of trouble. Online cash advance companies can always approve your loan application in twenty-four hours or even less.
With a cash loan you will avail the money you definitely want incredibly quickly and perfectly easily. The bureaucratic red tape and arduous procedures required for traditional loans are not associated with payday loans.
The advantages of the payday advance process are simplicity and convenience which can rarely be associated with the conventional loan procedure. Besides, they won’t ask you to undergo a credit habits check; thus you don’t have to be concerned about the being denied because of credit history issues. Those payday advances also do not use any property as collateral; the applicant does not need security and the applicant shouldn’t worry about losing any assets. The payday advances have several benefits in comparison with a bank loan.
When taking out a cash advance, do so accurately. Be sure you read carefully and thoroughly understand all the options. The payday loans are taken out for rather a short time, inability to repay on a payback date will end in high penalties. The payday loans should be viewed as an enhancement of your pay check rather than as a separate loan. It’s like making extra sure that the cash you’re receiving would be repaid with the future salary.
Sometimes, payday loans earn notoriety since they turn out to be outside the traditional loan system. Much of the bad press is in reality due to the borrower blaming the payday advance system when in reality they simply misunderstood its intent. If handled correctly, with a fair and honest payday advance lender, it is likely you will be grateful to have it fixed with such a convenient solution to your short term money problems.