Student Loan

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Student Loan

A loan one uses to pay for postsecondary education. A parent, guardian or the student may take out a student loan. In the United States, the federal government subsidizes or guarantees some student loans to enable more people to attend college. Interest on student loans is also tax deductible in the United States. However, because universities in the United States are often so expensive, many students spend a significant portion of their income on student debt service.
References in periodicals archive ?
14, 2015 /PRNewswire-USNewswire/ -- ReliaMax, one of the nation's leading financial technology companies insuring, servicing and originating private student loans made by banks, credit unions and alternative lenders, today announced that members of the ReliaMax executive team, including CEO Michael VanErdewyk, CFO Jonathon Albright and VP of Capital Markets Steve Pachella and others will be attending ABS East in Miami, FL September 16-18, 2015.
The world's largest credit union could someday become the world's largest issuer of private student loans, with most if not all of those loans generated and serviced online.
Private student loans are consumer loans made to individuals to help pay for college.
The Consumer Financial Protection Bureau (CFPB) has also raised concerns surrounding the private student loan industry in its 2012 report, in which the CFPB recommended potential changes for the treatment of private student loans in bankruptcy proceedings: “The absence of consumer protections on private loans comparable to that available on Federal student loans, combined with the current restriction on bankruptcy discharge, leave those private student loan borrowers who face extreme financial distress with no last resort for economic relief, even in dire circumstances, such as borrower death on cosigned loans.
With its first-ever director in place, a new federal consumer atchdog agency needs to take strong action in 2012 to educate the public about private student loans and clamp down on questionable practices in the sector, experts say.
Bank of America (NYSE: BAC) has said that it is planning to halt private student loans.
The collateral securing the notes are 100% private student loans and consists of loans originated by Access Group.
20, 2015 /PRNewswire-USNewswire/ -- ReliaMax, the nation's leading financial technology company insuring, servicing and originating private student loans made by banks, credit unions and alternative lenders, today announced that Jonathon Albright has joined the ReliaMax team as Chief Financial Officer of ReliaMax Holding Company.
According to a report on private student loans released by the Consumer Financial Protection Bureau, some private student lenders misled borrowers about their loan terms as well as their federal student loan options, and since 2008, student loan debt has increased and default rates have escalated.
Bank of America Corporation (BofA) (NYSE: BAC) has decided not to offer private student loans.
The collateral supporting Access Group 2005-B notes consists entirely of private student loans originated and serviced by Access Group, Inc.
The Private Student Loan Performance Report --Q1 2015 shows continued strong performance trends in repayment, delinquencies and charge-offs for private student loans through Q1 2015.

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