Since these loans depend on the voluntary participation of lenders, both government and industry now have a chance to make it up to the citizens who trusted them.
The potential savings offered by Sallie Mae's loans depend on the interest rate, as well as the repayment option chosen (students can choose to make interest-only payments, or lower fixed monthly payments, while in graduate school, or they can defer payments until after graduation).
But the banks also made bigger loans, depending on the type of home and the borrower's credit rating.
(It may be possible, however, with private loans depending on the credit scores of you and your mom).
Eligibility for private student loans depends on the credit history of the borrower and the co-signers, if any.
Rick Sharga, the executive vice president of Carrington Mortgage Holdings, says investors typically pay 40 to 60 cents on the dollar for seriously delinquent loans, depending on the local market and matters like whether foreclosure required judicial proceedings.
Ronald Hassen, Nasdaq's interim chief financial officer, said that while the exact terms of the loans depended on market conditions, the interest rate was expected to be about 2 to 2.25 percent above the London interbank offered rate.
At a hearing held by the House Committee on Education and the Workforce on Wednesday, Robert Shapiro, an economist at the Brookings Institution, estimated that over the life of existing loans, taxpayers would pay $14 billion to $104 billion to subsidize the loans, depending on how high interest rates climb in the coming decades.
Dr. Dean proposed a "social contract" built on affordable health insurance and child care; a savings plan to help families prepare for retirement; and a "College Commitment," guaranteeing $10,000 in student financial assistance through a mix of grants and loans, depending on family finances.
You know, I mean, obviously college loans, depending on whether they're subsidized or not, are fairly standard.
(Currently, undergraduates can take out between $5,500 and $7,500 a year in federally backed Stafford loans, depending on their year in college).
