Welcome to Business Education
Online Degrees Business Education Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
New Education Loan Repayment Scheme in the US
from:Deb St. George, on Education Loan Repayment in your Business Education Guide From BusinessNewsDirectory.com
In a sign that education is highly prioritized by the United States government, it has been offering for quite some time student loans for college and graduate students who need assistance. The goal of the program is very obvious: to help students get on to earn degrees despite continuously rising costs. It is a common knowledge to everyone that US students are quite independent. That is why they are left to make ends meet and finance their own endeavors.
Thousands of college and graduate students across the country are benefitting from the program. Many are earning their degrees with much financial hassle. The catch is that those students are mandated and required to repay their student loans after they graduate. This scheme is a welcome note to most students, who really are in dire need to pay for their education. But repaying loan amounts for a number of years (average about 10 years) could be a daunting task to most.
There is good news amid the current financial crisis and the pressured job market. The federal government’s Income Based Repayment program recently allowed that it would finally allow student borrowers to cap monthly loan repayments at just about 15% of total annual income. This move is expected to particularly benefit new graduates who are faced with big loan repayments amid a tough employment market these days. Graduates with lower income and with children would be required to pay much lower repayments monthly, or in specific cases, none at all.
This scheme would encompass federal loans, which account for around 66% of total student debts. Private loans made by students are not covered, though private lenders may always offer their own incentives. This is obviously and logically a welcome note to all student borrowers. However, student borrowers who have already been on defaults would not enjoy the program.
It is estimated that about 60% of US students with bachelor’s degree have student loans. On the average, such students accumulate $23,000 in student borrowings. For a typical 10-year loan repayment program, the amount would require them to pay about $260 monthly. Medical students on the average have bigger student loans at about $106,000 each. This translates to higher monthly repayments after graduation.
Because of the new student loan repayment scheme, graduates who earn about $30,000 annually would only be required to pay just up to $172 monthly. Those who earn up to $40,000 annually would pay $297 monthly. The scheme is set to help those borrowers feel some ease in repaying monthly student loan dues. It is a welcome note especially these days, when the economic crisis is still very much felt across the US.
Graduates who are employed by public service offices are entitled to more perks. For 25-year student loans, remaining loan balances would be written off. The scheme would lower repayments by up to 10 years.
The US education system has always been a role model for many countries. The country is really a nation valuing education at most. The student loan programs are indeed proof that the government is bent on helping the youth solidify their potential for the future. If only other countries could also offer the same program, many teenagers would earn degrees that would qualify them to better jobs and of course, better sources of income.
Online Degrees Business Education News
Why I Chose Online Education: Bridget Baldwin - U.S. News & World Report
 U.S. News & World Report | Why I Chose Online Education: Bridget Baldwin U.S. News & World Report After 10 years of classes, this student is just a few credits from earning an online bachelor's degree. By Laura McMullen Bridget Baldwin is working toward her online bachelor's in business management from Champlain College. College education takes all ... |
WGU Takes Winter Commencement to Atlanta - Sacramento Bee
WGU Takes Winter Commencement to Atlanta Sacramento Bee At Saturday's event, WGU will confer 1583 bachelor's degrees and 1071 graduate degrees in four disciplines: Business, Information Technology, Teacher Education, and Health Professions, including Nursing. Founded by 19 US governors to expand access to ... |
Research by Pew Charitable Trusts Shows the Biggest Group of Unemployed ... - Houston Chronicle
Research by Pew Charitable Trusts Shows the Biggest Group of Unemployed ... Houston Chronicle Alternatively, those with a bachelor's degree compose only 11 percent of the unemployed, with master's degrees and above at just 5 percent. My Colleges and Careers is prepared to help individuals seeking to better their education, and consequently ... |
REALTOR® University Granted Approval to Offer Master of Real Estate Degree Program - RealEstateRama (press release)
REALTOR® University Granted Approval to Offer Master of Real Estate Degree Program RealEstateRama (press release) by NAR Chicago, IL – February 9, 2012 – (RealEstateRama) — REALTOR® University now offers a Master of Real Estate degree for real estate professionals who are interested in expanding their education to advance their career and improve their business. |
Our Lady of the Lake University to Offer Online Master of Science in ... - Houston Chronicle
Our Lady of the Lake University to Offer Online Master of Science in ... Houston Chronicle Our Lady of the Lake University announces the launch of its Master of Science in Organizational Leadership (MSOL) online degree program. Prospective students can choose from two specializations: Leadership or an interdisciplinary track. |
30DC Announces the Consolidation of Its Internet Marketing Programs; Expands ... - MarketWatch (press release)
30DC Announces the Consolidation of Its Internet Marketing Programs; Expands ... MarketWatch (press release) With more 50 years of combined expertise in internet marketing, Dale, Raines, and Somerville have educated more than 175000 individuals to generate revenue online. The price of The Immediate Edge members program is $97 per month. |
Saint Leo's Online Degree in Business Administration Offers Big Benefits to ... - Houston Chronicle
Saint Leo's Online Degree in Business Administration Offers Big Benefits to ... Houston Chronicle Continuing education programs, such as Saint Leo University's online degree in business administration, online psychology degree and online sociology degree, provide an opportunity for adult learners to keep their minds sharp throughout their careers ... |