Items Tagged with 'Student loan debt'

ARTICLES

  • FTC warns lenders: Do not lie in loan refinancing ads

    SoFi might not be the only one
    In the wake of taking action against SoFi for allegedly lying in its ads about how much borrowers can save by refinancing their student loans with the online lender, the Federal Trade Commission is also warning other lenders to not engage in similar activity. To that end, the FTC is sending letters to an unknown number of lenders, warning them that they may be subject to a regulatory action should they be found to be engaging in false advertising.
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  • FTC accuses SoFi of lying about loan savings in misleading ads

    Online lender allegedly overinflated savings claims on student loan refinances
    For more than two years, SoFi has been making misleading claims in its television, print, and online advertisements and lying about the amount of savings its loan refinancing programs would bring to borrowers, the Federal Trade Commission said Monday. According to the FTC, SoFi “deceptively advertised inflated figures” about loan refinances, basically claiming that it could save borrowers far more than is actually the case.
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  • Student debt crushes homeownership dreams

    Survey reveals women and Millennials are most impacted
    Student loan debt has racked up a collective $1.5 trillion bill for 44 million Americans, and its crushing people’s homeownership dreams. According to a recent survey by NeighborWorks America, people with student loans are delaying purchasing a home, with many worried about their debt most or all of the time.
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  • From HW Magazine

    Arrested development: The long-term consequences of student debt on the housing economy

    High default rates could spell disaster for future homeownership
    As Millennials grapple with paying off student loans, their opportunity to buy a home gets pushed further and further into the future. That delay has consequences far beyond individual students — the growing student debt crisis impacts every part of the economy. 
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  • Lennar targets Millennials with mortgage that pays off their student loans

    Lennar subsidiary Eagle Home Mortgage offers unique lending product
    A recent study showed that mounting student loan debt is holding Millennials back from buying homes – for seven years. But one homebuilder is trying to make that seven-year delay go away. Eagle Home Mortgage, a mortgage lender and a subsidiary of Lennar, announced Tuesday that it is rolling out a new mortgage program that will help homebuyers pay off their student debt.
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  • Fannie Mae announces new programs to break through student loan roadblock

    Cash-out refinance, new debt-to-income calculations spur homeownership
    The level of student debt in the U.S. has spiraled over the last decade to $1.4 trillion, effectively locking out millions of potential homebuyers from the market. Fannie Mae's new programs address specific roadblocks that these borrowers face, providing a jump-start to a whole new generation of homebuyers.
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  • Fannie Mae close to launching larger student loan refi program: Sources

    SoFi was apparently just the beginning
    Fannie Mae will soon announce policy changes to address the exploding volume of student debt among potential homeowners, according to sources close to the matter. In November, Fannie Mae announced a new loan option through SoFi that allows homeowners to refinance their mortgage at a lower rate and pay down the balance of an existing student loan. Now, sources say, Fannie Mae is ready to expand that program to other lenders. And that's not all.
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  • SoFi and Fannie Mae announce cash-out refi for student loans

    An estimated 8.5 million households could potentially benefit
    The student loan debt problem is a growing burden that impacts a wide range of households, more than estimated 8.5 million to be specific. SoFi and Fannie Mae want to fix this. The two companies announced a new loan option on Wednesday that allows homeowners to refinance their mortgage at a lower rate and pay down the balance of an existing student loan.
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