|
Private Student Loans
A private student loan is a financing option for higher education in the United States that can supplement, but should not replace, federal loans, such as Stafford loans, Perkins loans and PLUS loans. Private loans, which are heavily advertised, do not have the forbearance and deferral options available with federal loans (which are never advertised). In contrast with federal subsidized loans, interest accrues while the student is in college, even if repayment does not begin until after graduation. While unsubsidized federal loans do have interest charges while the student is studying, private student loan rates are usually higher, sometimes much higher. Fees vary greatly, and legal cases have reported collection charges reaching 50% of amount of the loan. Since 2011, most private student loans are offered with zero fees, effectively rolling the fees into the interest rates. Interest rates and loan terms are set by the financial institution that underwrites the loan, typically ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Higher Education In The United States
In the United States, higher education is an optional stage of formal learning following secondary education. It is also referred to as post-secondary education, third-stage, third-level, or tertiary education. It covers stages 5 to 8 on the International ISCED 2011 scale. It is delivered at 3,931 Title IV degree-granting institutions, known as colleges or university, universities. These may be public university, public or private university, private universities, research university, research universities, liberal arts colleges, Community colleges in the United States, community colleges, or for-profit colleges. U.S. higher education is loosely regulated by the government and by several third-party organizations and is in the process of being even more decentralized. Post secondary (college, university) attendance was relatively rare through the early 20th century. Since the decades following World War II, however, attending college or university has been thought of as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
LIBOR
The London Inter-Bank Offered Rate (Libor ) was an interest rate average calculated from estimates submitted by the leading Bank, banks in London. Each bank estimated what it would be charged were it to borrow from other banks. It was the primary benchmark, along with the Euribor, for short-term interest rates around the world. Libor was phased out at the end of 2021, with market participants encouraged to transition to risk-free interest rates such as SOFR and SARON. LIBOR was discontinued in the summer of 2023. The last rates were published on 30 June 2023 before 12:00 pm UK time. The 1 month, 3 month, 6 month, and 12 month Secured Overnight Financing Rate (SOFR) is its replacement. In July 2023, the International Organization of Securities Commissions (IOSCO) said four unnamed United States dollar, dollar-denominated alternatives to LIBOR, known as "credit-sensitive rates", had "varying degrees of vulnerability" that might appear during times of market stress. Libor rates w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Peer-to-peer Lending
Peer-to-peer lending, also abbreviated as P2P lending, is the practice of loan, lending money to individuals or businesses through online services that match lenders with borrowers. Peer-to-peer lending companies often offer their services online, and attempt to operate with lower Overhead (business), overhead and provide their services more cheaply than traditional financial institutions. As a result, lenders can earn higher returns compared to savings and investment products offered by banks, while borrowers can borrow money at lower interest rates, even after the P2P lending company has taken a fee for providing the match-making Computing platform, platform and credit checking the borrower. There is the risk of the borrower defaulting on the loans taken out from peer-lending websites. Peer-to-peer fundraising encourages supporters of a charity or non-profit organisation to individually raise money. It's a subcategory of crowdfunding. Instead of having one main crowdfunding page ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kiplinger's Personal Finance
''Kiplinger Personal Finance'' ( ) is an American personal finance magazine published by Kiplinger since 1947. It claims to be the first American personal finance magazine and to deliver "sound, unbiased advice in clear, concise language". It offers advice on managing money and achieving financial security, saving, investing, planning for retirement, paying for college, and major purchases like automobiles and homes. History W.M. Kiplinger, founder of the Kiplinger family of publications, said he founded the magazine because "The times will always be changing. Much of life and work consists of looking for the changes in advance and figuring out what to do about them." Upon initial production, the magazine was known simply as ''Kiplinger Magazine'', changing its name to ''Changing Times: The Kiplinger Magazine'' in 1949 and acquiring its present name in 1991. Much like ''Forbes'' magazine, ownership of the Kiplinger's franchise was kept in the family until the sale of Kiplinger to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Higher Education Loan Authority Of The State Of Missouri
The Higher Education Loan Authority of the State of Missouri, also known as the Missouri Higher Education Loan Authority or MOHELA is one of the largest holders and servicers of student loans in the United States. Its headquarters are in St. Louis, Missouri. Created in 1981 as a quasi-governmental entity, MOHELA participated in the Federal Family Education Loan Program (FFELP) for nearly three decades, where it oversaw loans guaranteed by the federal government. Following the abolition of the FFELP program in 2010, MOHELA began to expand its business, overseeing around 6.7 million student loan borrower accounts as of 2022. History Early history (1981–2019) MOHELA was founded by the Missouri General Assembly in 1981 to oversee loans guaranteed by the U.S. federal government through the Federal Family Education Loan Program. Following the program's abolition in 2010, MOHELA began to expand its presence in the student loan servicing industry. In 2011, it was granted a contr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vermont Student Assistance Corporation
Vermont Student Assistance Corporation is a public, nonprofit agency established by Governor Phil Hoff and the Vermont Legislature in 1965 to help Vermonters achieve their education and training goals after high school. VSAC serves students and their families in grades 7-12, as well as adults returning to school, by providing education and career planning services, need-based grants, scholarships and education loans. VSAC has awarded more than $680 million in grants and scholarships for Vermont students, and also administers Vermont’s 529 college savings plan. VSAC employs 160+ people and is governed by an 11-membeBoard of Directors Five of the members are appointed by the Governor, two are legislative members, one is the State Treasurer, and the remaining three are chosen by the Board itself. References External links * Winooski, Vermont Student A student is a person enrolled in a school or other educational institution, or more generally, a person who takes a speci ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wells Fargo
Wells Fargo & Company is an American multinational financial services company with a significant global presence. The company operates in 35 countries and serves over 70 million customers worldwide. It is a systemically important financial institution according to the Financial Stability Board, and is considered one of the "Big Four (banking)#United States, Big Four Banks" in the United States, alongside JPMorgan Chase, Bank of America, and Citigroup. The company's primary subsidiary is Wells Fargo Bank, N.A., a National bank (United States), national bank that designates its Sioux Falls, South Dakota, site as its main office (and therefore is treated by most U.S. federal courts as a citizen of South Dakota).Rouse v. Wachovia Mortgage, FSB', 747 F.3d 707 (9th Cir. 2014) (citing cases on each side of circuit split and joining majority rule that a national bank is only a citizen of the state in which its main office is located). It is the List of largest banks in the U ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sallie Mae
SLM Corporation (commonly known as Sallie Mae; originally the Student Loan Marketing Association) is a publicly traded U.S. corporation that provides consumer banking. Its nature has changed dramatically since it was set up in the early 1970s; initially a government entity that serviced federal education loans, it then became private and began offering private student loans. The company's primary business is creating, servicing, and collecting private education loans. The company also provides online tools and resources for college planning. Sallie Mae previously originated federally guaranteed student loans under the Federal Family Education Loan Program (FFELP) and worked as a servicer and collector of federal student loans on behalf of the Department of Education. The company now offers private education loans and manages more than $12.97 billion in assets. On April 30, 2014, Sallie Mae spun off its loan servicing operation and most of its loan portfolio into a separate, p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumer Financial Protection Bureau
The Consumer Financial Protection Bureau (CFPB) is an independent agency of the United States government responsible for consumer protection in the financial sector. CFPB's jurisdiction includes banks, credit unions, securities firms, Payday loans in the United States, payday lenders, mortgage-servicing operations, foreclosure relief services, debt collectors, for-profit colleges, and other financial companies operating in the United States. The agency was originally proposed in 2007 by Elizabeth Warren while she was a law professor and she played an instrumental role in its establishment. The CFPB's creation was authorized by the Dodd–Frank Wall Street Reform and Consumer Protection Act, whose passage in 2010 was a legislative response to the 2008 financial crisis and the subsequent Great Recession, and is an independent bureau within the Federal Reserve. The agency has established or proposed rules to cap overdraft charges and credit card late fees; prohibit medical debt f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kickback (bribery)
A kickback is a form of negotiated bribery in which a commission is paid to the bribe-taker in exchange for services rendered. Generally speaking, the remuneration (money, goods, or services handed over) is negotiated ahead of time. The kickback varies from other kinds of bribes in that there is implied collusion between agents of the two parties, rather than one party extorting the bribe from the other.Wrage, Alexandra Addison. ''Bribery and Extortion: Undermining Business, Governments, and Security.'' Westport, Conn.: Praeger Security International, 2007. p. 14. The purpose of the kickback is usually to encourage the other party to cooperate in the scheme.Kranacher, Riley, and Wells, p. 387. The term "kickback" comes from colloquial English language, and describes the way a recipient of illegal gain "kicks back" a portion of it to another person for that person's assistance in obtaining it.Campos, p. 299. Types and methods The most common form of kickback involves a vendor sub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Andrew Cuomo
Andrew Mark Cuomo ( , ; born December 6, 1957) is an American politician and lawyer who served as the 56th governor of New York from 2011 until his resignation in 2021. A member of the Democratic Party and son of former governor Mario Cuomo, Cuomo previously served as the 64th attorney general of New York from 2007 to 2010, and is currently running for mayor of New York City. Born in Queens, New York City, Cuomo is a graduate of Fordham University and Albany Law School. He began his career working as the campaign manager for his father in the 1982 New York gubernatorial election. Later, Cuomo entered the private practice of law and chaired the New York City Homeless Commission from 1990 to 1993. Cuomo then served in the United States Department of Housing and Urban Development as assistant secretary from 1993 to 1997 and as secretary from 1997 to 2001 under President Bill Clinton. Cuomo was elected New York attorney general in 2006, after a failed bid to win the Democrati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Forbearance
Forbearance, in the context of a mortgage process, is a special agreement between the lender and the borrower to delay a foreclosure. The literal meaning of forbearance is "holding back". This is also referred to as mortgage moratorium. Application and use When mortgage borrowers are unable to meet their repayment terms, lenders may opt to foreclose. To avoid foreclosure, the lender and the borrower can make an agreement called "forbearance." According to this agreement, the lender delays its right to exercise foreclosure if the borrower can catch up to its payment schedule by a certain time. This period and the payment plan depend on the details of the agreement that is accepted by both parties. COVID-19 pandemic Historically, forbearance has been granted for customers in temporary or short-term financial difficulty. If the borrower has more serious problems, e. g. the return to full mortgage payments in the long term does not appear sustainable, then forbearance is usuall ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
