CR80News | Student loan market in trouble

Friday, April 18, 2008

Sallie Mae, the nation’s top student lender, is not immune to credit woes, SanDiego.com reports. With its interest rate capped at 6.8% and with many of its competitors scaling back their student loan activity or withdrawing completely from the market, Sallie Mae is looking for help after reporting a first quarter loss of $104 million. It’s particularly critical now since this is the time when many students apply for loans for the fall semester.

Sallie Mae would like the U.S. Treasury Department to aid the stricken student-loan market by purchasing securities backed by student loans. The U.S. House is due to vote Thursday on legislation that would give the Education Department temporary authority to buy loans from student lenders to ensure their access to capital.

It’s more a students’ photo identification. It’s an all-in-one solution for campus access, services and events. The Mountaineer Card, the official campus card for West Virginia University, is an essential part of student life, according to The Daily Athenaeum, the university’s official student newspaper.

Mandatory meal plan spurs student lawsuit

Three Auburn University students aren’t thrilled with the school’s mandatory meal plan. They’re so “not thrilled” that they’ve filed suit against the university, claiming the plan violates restraint of trade and Alabama law.

Some have issues with combined student ID, banking card

More and more colleges in Ohio are turning their student IDs into bank cards, which critics say is a red flag for young spenders, according to a local news report.

ID theft prevalent among young adults

It takes young adults–those between the ages of 18 and 24–some 132 days before they realize they’ve had their identity stolen. In that time, they’ve lost five times the amount of money compared to other age groups, according to Washington State University’s student newspaper.

GPS tracks Chicago area school bus riders

The Palos Heights School District 128 in Chicago is using GPS technology to track its students allowing the district to keep up with the student–when he or she first entered the school bus and when the student exited the district’s care.

Colleges enable campus IDs for ATM debit transactions, California

Students at UC Davis and California State University, Sacramento now have the ability to link their campus ID cards to US Bank and Wells Fargo, respectively, according to the Sacramento Bee.

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Student loan market in trouble