A new report from the New York Fed suggests that even while the rest of household debt improved since March, driven by decreasing credit card and housing debt, student loans have worsened.
America's students are facing a serious threat from subprime private loans, and the situation could worsen unless Congress votes to close a potential loophole in the proposed Consumer Financial Protection Agency.
The Contract for College would unify the existing three strands of federal financial aid — grants, loans and work-study — into a coherent, guaranteed financial aid package for students.