CDB to Loan LDK Solar $320 Million
Decouple Federal Financing from Accreditation If federal policymakers want to drive down college costs and increase access to higher education for those historically underserved by the traditional four-year system, the single most important reform to consider is decoupling federal financing from accreditation. College costs are at an all-time high at a time when access to knowledge is cheaper than at any other point in human history. Online learning and competency-based options that favor knowledge and skill acquisition over seat time have laid the groundwork to significantly lower college costs and increase access for students. In order to harness the potential of new learning modes, policymakers must free higher education from the ossified accreditation system. Accreditation as it currently exists creates barriers to entry for innovative new start-ups to enter the higher education market, and it is a poor gauge of course quality and the skills students gain (or fail to gain) while attending college. What began as a voluntary system of accreditation in the 19th century became a de facto requirement in 1952 when federal financing and aid, which constitutes so much of colleges budgets, became tied to accreditation.  Now it is a near requirement for colleges to operate, and as a result, being accredited has lost any real value. Requirements for an institution to be accredited in order for students to access federal student loans and grants has put roadblocks in the way of models that hold the prospect of fundamentally restructuring higher education to bring down college costs. Unless accreditation is delinked from federal financing, that revolution could be postponed longer than it need be, while students continue to incur untenable levels of debt to pursue bachelors degrees that may not be preparing them for the workforce. In addition to favoring existing business models, accreditation rates entire institutionsnot specific coursesand as a result, is a poor gauge of course quality and the skills acquired by students.
Puedes ver la version sin traducir en http://www.heritage.org/research/testimony/2014/06/student-loan-servicing-the-borrowers-experience
Warren: Student loans are a 'one-two punch' for women - UPI.com
Senate unite to push a vote on a bill which would allow people to refinance student loan debt at the current low rates, dozens of organizations have come out in support of the legislation. Dubbed the Bank on Students Emergency Loan Refinancing Act, as written and introduced by Sen. Elizabeth Warren in early May, the bill addresses two of the Massachusetts Democrat's policy priorities - college debt and the tax rate paid by the wealthy. On Wednesday, several organizations centered on everything from education and lending to labor and progressive activist groups announced they were backing the legislation . "Right now, homeowners can do it. Businesses can do it. Even local governments can refinance their debts when interest rates are low. But most people have no options for their student loans," Warren said in an email to supporters this week. "The idea behind this bill is simple. Last year, Republicans and Democrats came together to lower the interest rates on new undergraduate loans to 3.8%. But nothing was done for the millions of people who have older student loans at 6%, 8%, 10% and even higher interest rates.
Puedes ver la version sin traducir en http://www.masslive.com/politics/index.ssf/2014/06/as_democrats_push_for_vote_on.html
Loan Company Demands Payment, Family Has Proof They Already Paid - ABC News
The company has lost a huge amount of marketshare and its billion dollar poly plant remains shut, as it is not economically viable. Improvement in technology has made this plant obsolete and the company has not been generating profits. The companys share were delisted from NYSE and the company sold equity stakes to Chinese state funds for a pittance, as it was desperate to raise cash to run operations. NoteSuntech(STP) has already become bankrupt, with most of its assets sold to Shunfeng. Bankruptcy in China remains a hazy process as state owned funds keep running even zombie companies to protect jobs. LDK Solar (NYSEARCA:TAN)was the largest solar wafer producer and had diversified into all parts of the supply chain. But increasing competition from the like of GCL Poly eroded its competitive position and its huge pile of debt made operations almost impossible.$64 millionof the loan will be used to resurrect the dead poly plant that LDK had built over the last 3-4 years. The plant never ran to even half of its capacity as price of poly went below $20/kg. LDK had no money to improve the equipment.
Puedes ver la version sin traducir en http://www.wallstreetsectorselector.com/investment-articles/analyst-desk/2014/06/cdb-loan-ldk-solar-320-million/
As Democrats push for vote on Sen. Elizabeth Warren's student loan debt refinancing bill, dozens of groups step up to endorse it | masslive.com
How Student Loan Companies CanAccidentallyHurt Borrowers Credit Scores Its the last area that these companies can really impact student loan borrowers these are the companies that report borrowers to the credit bureaus and seek repayment on student loan debt. They can also cause tax nightmares for borrowers because of this. The problem lies in the fact that these companies transfer student loans back and forth amongst themselves all the time. Its not common for a borrower to have their loan transferred two or three times before they graduate. In my case, my student loan originally started with Sallie Mae, and then ended up with FedLoan. When my loan was transferred from Sallie Mae to FedLoan, I had to change all of my automatic payments that I had setup through Sallie Mae those didnt transfer. I also had to re-sign up for online statements so that I could continue to qualify for an interest rate reduction (a hassle, but worth the savings). The trouble is, there is a lag time in these notifications, and you, as the borrower, dont always know where your loan is. In my case, FedLoan processed a payment via the new direct debit I setup, but on their backend, my loan wasnt fully transferred. As a result, they didnt post the payment, and put my loan into delinquency status.
Puedes ver la version sin traducir en http://www.forbes.com/sites/robertfarrington/2014/06/03/is-your-student-loan-servicer-ruining-your-credit/
We have been on the phone with Ocwen's overseas "customer service" department for hours on end and have emailed everyone from the CEO on down, and have gotten nowhere. I suspect that our credit, which was previously excellent, is now circling the drain. I have researched Ocwen online, and have discovered that they settled a government lawsuit in 2013 for $2 billion. We have two young sons at home and are by no means wealthy. We are just honest, hard-working people who are being run over by a corporation. Please help! - Jennifer Martens, North Aurora, Ill. Dear Jennifer: If Franz Kafka were alive today, we're thinking this Ocwen story would make a nice plotline: You had your loan servicer unwittingly switched, but you paid your bills. Ocwen's own account statements said you paid your bills, and your bank said you paid your bills and then Ocwen said you didn't pay your bills. And then Ocwen said they could see that you did pay your bills, but they couldn't make their computer say you paid your bills. What a headache.
Puedes ver la version sin traducir en http://abcnews.go.com/Blotter/loan-company-demands-payment-family-proof-paid/story?id=23991963
Is Your Student Loan Servicer Ruining Your Credit? - Forbes
"Young women are hit by a double whammy by ever-increasingly high student debt," Mikulski said. "They deserve a fair shot at higher education they can afford." Research has showed that, despite the continued value of holding a college degree, the rising costs have weighed increasingly heavily on America's young people. Rohit Chopra, the student loan ombudsman at the Consumer Financial Protection Bureau, testified before the Budget Committee Wednesday that multiple studies have found student debt has kept an entire generation from buying homes, starting businesses and saving for retirement. Richard Vedder, the director for the Center of College Affordability and Productivity, argued the problem was not mounting debt -- at least not directly. Vedder, who was invited by the ranking member to testify, said the student loan programs have caused college tuitions to skyrocket beyond the pace of inflation as schools happily collect federal dollars to build expensive facilities and court donors. "Without massive federal aid programs, I doubt we would have so many million dollar university presidents," Vedder testified, arguing the entire student loan program should be dismantled. Stabenow said Vedder -- and by extension, Republicans -- had the whole thing backwards. Most students don't have the option to ask their parents to pay tens of thousands of dollars a year for tuition, and rely solely on loans and other aid to afford a college education. "This is a question about values," Warren said.
Puedes ver la version sin traducir en http://www.upi.com/Top_News/US/2014/06/04/Female-senators-tie-college-loan-push-to-equal-pay/2071401890697/