Student Loans in a Pinch
January 23, 2008
The effects of the sub-prime housing market mess are expected to bleed over into other sectors as time passes and one sector, student loans, is seeing some of that happen now. According to a recent report released by the financial aid expert, FinAid, college students may soon see trouble with getting new student loans.
Help with Student Loans
January 17, 2008
Parents and college students may find some relief soon in college tuition levels. Many schools are deciding to either completely eliminate student debt or at least decrease the amounts of debt students carry. Some of this decision can be attributed to pressure coming from Washington.
Proposed Rate Freeze
December 6, 2007
Lenders who are looking at massive foreclosures next year are now discussing plans that will help reduce those foreclosures. Their plan is to freeze the lower introductory interest rates on some sub-prime mortgages. The important word here for homeowners is “some”.
College Loans and Financial Aid Increases
November 29, 2007
During the period 2006-07, nearly 75 percent of full-time undergraduate students received some form of financial aid. The two main avenues of aid were federal loans, which comprised 40 percent of the total, and grants from schools, which comprised 21 percent.
New Student Loan Help
November 27, 2007
There is some good news for student loan seekers. A few new programs are set to begin soon and those who qualify for one or more can save some substantial cash by using them.
Bank of America Takes Huge Write-down
November 16, 2007
The second largest bank in America is Bank of America (BofA). The huge financial institution announced recently that it would have to take a massive three billion dollar write-down during the fourth quarter of this year (2007). As if that were not enough it also announced that its losses may increase as the housing market continues to wane.
Borrowing Slow Down
November 12, 2007
American consumers are borrowing less, and if the latest numbers are any indication, they are borrowing a lot less.
The Latest Rate Cut
November 7, 2007
On 31 October, the Federal Reserve cut the fed rate by another one-quarter point. The rate now stands at a low 4.5 percent. An earlier cut was posted in September.
Banks Adjusting for New Loans
October 30, 2007
It is not just consumers and homeowners who are feeling the economy’s pinch. Big banks are showing poor quarterly reports which may indicate that the problems associated with the mortgage sector is now spreading its wings and becoming a problem in other sectors as well. In a nutshell, as consumers face more problems paying their bills (of all types) the banks take a hit.
Even More New Homes Needed
October 26, 2007
The Government has promised to build an extra three million homes in England by 2020, but it looks like it still won’t be enough. The National Housing and Planning Advice Unit (NHPAU) was set up to advise ministers on new homes, and it has reported that about quarter of a million will be needed.