$830 Billion in Student Loans: The New Mortgage Bubble Huffington Post Anya Kamenetz Posted: August 11, 2010 11:58 PM A strange milestone was marked this week in the history of student loans. The total balance of all outstanding US student loans (given as $730 billion in DIY U, based on OMB estimates) is now estimated by Mark Kantrowitz of Finaid.org at more like $830 billion — $605.6 billion in federally guaranteed student loans, which have interest rates fixed and in some cases interest subsidized by the government, and a further $167.8 billion in private student loans, with interest rates that hover around 18-20%. Furthermore, Kantrowitz says, $300 billion in federal student loan debts have been incurred in the last four [...]
Filed under: News by ssmith
No Comments »
The New York Times University Head’s Housing Raises Ire By STEVE FAINARU Five minutes before midnight on June 30, movers hauled the last boxes from a spectacular rented home in the Oakland Hills. The tenant’s lease was about to expire, and in his haste to get out, he left behind thousands of dollars of damage to the hardwood floors and Venetian plastered walls. The tenant was Mark G. Yudof, president of the University of California. His midnight move was the latest chapter in a two-year housing drama that has cost the university more than $600,000 and has drawn senior U.C. officials into an increasingly time-consuming and acrimonious ordeal over the president’s private residence. The effort to resolve Mr. Yudof’s housing [...]
Filed under: Uncategorized by ssmith
No Comments »
California Dreamer August 3, 2010 Much of the news surrounding the University of California system has involved whether the network of universities will be able to survive its current budgetary crisis without shrinking in size or quality. In that context, it is no surprise that Christopher Edley Jr.’s plan to use online education to expand the university’s footprint “from Kentucky to Kuala Lumpur” has turned some heads — and churned some stomachs. Edley, dean of the law school at the University of California at Berkeley, has been using his position as co-chair of the education and curriculum working group for the UC Commission on the Future to advocate for an ambitious expansion of the system’s online arm that could eventually [...]
Filed under: Uncategorized by ssmith
No Comments »