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Released: October 26, 2011
Clearing up confusion on student loan rules
Source: Ron Lieber, N.Y. Times (Free Registration)
On Wednesday, President Obama introduced two changes to the federal student loan program that could affect several million borrowers. The broad outlines of his plans to encourage loan consolidation and assist people who are struggling financially are reasonably clear.
But if the questions sent to our Bucks blog from indebted people are any indication, any change in Student Loan Land almost inevitably leads to enormous confusion. Many questions had to do with whether private loans, the kind that come from banks and often have higher and variable interest rates, are part of these changes. Nothing is changing with those loans.
Read Full Article: Clearing up confusion on student loan rules
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