We caught Ms. Lubimtsev in Tennessee briefing her company's home office on the progress of SAFRA student loan legislation on Capitol Hill, where she's posted. Her clear explanations of a complex nationalization of the student loan industry are accompanied by a unique personal twist.
If the U.S. can come to the assistance of banks and homeowners, surely it could offer a helping hand in the form of lower interest rates for students.
If I were a recent college graduate, I would be outraged to be paying 6.8 percent in interest on my Stafford loan when market interest rates are closer to 2.5 percent! Where’s all that extra money going? Are exorbitant interest fees being paid to lenders in the form of subsidies or to the federal government to spend at the discretion of Congress? In other words, who’s subsidizing whom?
A bill that would put the federal government in charge of college student loans and eliminate the role of private lenders has easily passed its first major test in Congress. The U.S. House voted 253 to 171 on Thursday to approve the legislation, which would get rid of a popular student loan program and in its place provide for direct government lending. The measure now heads to the Senate.
Congress hasn't yet signed off on plans to eliminate a student-loan program with strong ties to a local company, but an Obama administration official hinted this week that the change is inevitable.That's bad news for student loan companies like Knoxville-based Edamerica, but backers of the program aren't giving up yet.
As Democrats in Congress marked President Barack Obama's 100th day in office Wednesday by approving a $3.4 trillion federal budget for 2010 that includes the elimination of student loan subsidies for banks and other lenders, Knoxville-based student loan provider Edamerica issued an immediate reaction.
President Barack Obama on Friday renewed his call for the government to stop backing private loans to college students and replace them with direct financial aid to young people, a challenge to a decades-old program with strong congressional support.
When it comes to ups and downs of her high school experience, Brittany Tipton knows where to lay both credit and blame.
Edamerica Chairman & CEO Tony Hollin lists reasons why he thinks nationalizing student loans at above-market rates is a bad idea.
Chairman & CEO Tony Hollin shares what's on his mind as Congress debates the future of the student loan industry.
Edamerica has been one of the nation’s largest originators of loans under the Federal Family Education Loan program, also known as FFELP. President Barack Obama has proposed eliminating the program in favor of direct government lending, and while that effort has sparked opposition in Congress, companies like Edamerica are watching closely because the proposal would force a major shake-up in their business model.
When I think of what makes America great, the first thing that comes to mind is freedom of choice. In this country we are fortunate to worship where we choose, to live and work where we choose and to follow our dreams wherever they lead.
Knoxville-based national student loan provider Edamerica and its parent company, Edfinancial Services, have created a $250,000 fund to aid displaced Gulf Coast financial aid employees.