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A student loan is a type of
loan In finance Finance is the study of financial institutions, financial markets and how they operate within the financial system. It is concerned with the creation and management of money and investments. Savers and investors have money avai ...
designed to help students pay for
post-secondary education Tertiary education, also referred to as third-level, third-stage or post-secondary education, is the education Education is the process of facilitating learning, or the acquisition of knowledge, skills, value (ethics), values, morals, ...
and the associated fees, such as
tuition Tuition payments, usually known as tuition in American English American English (AmE, AE, AmEng, USEng, en-US), sometimes called United States English or U.S. English, is the set of variety (linguistics), varieties of the English languag ...
, books and supplies, and living expenses. It may differ from other types of loans in the fact that the interest rate may be substantially lower and the repayment schedule may be deferred while the student is still in school. It also differs in many countries in the strict laws regulating renegotiating and bankruptcy. This article highlights the differences of the student loan system in several major countries.


Australia

Tertiary student places in
Australia Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...

Australia
are usually funded through the HECS-HELP scheme. This funding is in the form of loans that are not normal debts. They are repaid over time via a supplementary tax, using a sliding scale based on taxable income. As a consequence, loan repayments are only made when the former student has income to support the repayments. Discounts are available for early repayment. The scheme is available to citizens and permanent humanitarian
visa Visa most commonly refers to: *Visa Inc., a US multinational financial and payment cards company ** Visa Debit card issued by the above company ** Visa Electron, a debit card ** Visa Plus, an interbank network *Travel visa, a document that allows ...
holders. Means-tested scholarships for living expenses are also available. Special assistance is available to
indigenous Indigenous may refer to: *Indigenous peoples Indigenous peoples, also referred to as First people, Aboriginal people, Native people, or autochthonous people, are culturally distinct ethnic groups who are native to a particular place. The term ' ...
students. There has been criticism that the HECS-HELP scheme creates an incentive for people to leave the country after graduation, because those who do not file an Australian tax return do not make any repayments.


Canada

The province of
British Columbia ( en, Splendour without diminishment) , image_map = British Columbia in Canada 2.svg , Label_map = yes , coordinates = , official_lang = None , Slogan = Beautiful British C ...

British Columbia
allows the
Insurance Corporation of British Columbia The Insurance Corporation of British Columbia (ICBC) is a provincial Provincial may refer to: Government & Administration * Provincial capitals, an administrative sub-national capital of a country * Provincial city (disambiguation) * Provincial ...
to withhold issuance or renewal of driver's license to those with delinquent student loan repayments or child support payments or unpaid
court fine Fine may refer to: Characters * Sylvia Fine (The Nanny), Sylvia Fine (''The Nanny''), Fran's mother on ''The Nanny'' * Fine/Officer Fine, character in Tales from the Crypt, played by Vincent Spano. Legal terms * Fine (penalty), money to be paid a ...
s. Students need to meet the qualification with an individual's direct educational costs and living expense to get the certificate to obtain a loan and this policy is directly controlled by the government.


France


Germany


New Zealand

New Zealand provides student loans and allowances to tertiary students who satisfy the funding criteria. Full-time students can claim loans for both fees and living costs while part-time students can only claim training institution fees. While the borrower is a resident of New Zealand, no interest is charged on the loan. Loans are repaid when the borrower starts working and has income above the minimum threshold, once this occurs employers will deduct the student loan repayments from the salary at a fixed 12c in the dollar rate and these are collected by the New Zealand tax authority.


Thailand

The public sector is one of the most important sections in Thailand's higher education system. In addition, many public educational organizations usually receive profits from the students' tuition fees and the governments. Specifically, There are six various sections in the public sector's organization: colleges with the limited enrollment,universities which is opening to public, universities which is national autonomous, Rajabhat colleges, Ajamangala Universities of Technology, and polytechnic colleges.


India

Citizens in India show that the Indian Nation Loan Scholarship Scheme which operated from 1963 would make the extra waste on expenditure for the reason of 'limiting', which means only the people who really need to borrow would apply the student loan for the future education. Because of this, most Indian students would be more careful to choose their jobs in order to pay back the balance due. The Indian government has launched a portal, Vidya Lakshmi, for students seeking educational loans and five banks including
SBI
SBI
,
IDBI Bank The IDBI Bank Limited (IDBI Bank or IDBI) is an List of banks in India, Indian private sector bank and a subsidiary of Life Insurance Corporation (LIC) providing financial and banking services. It was established in 1964 as Industrial Developm ...
and
Bank of India Bank of India (BOI) is an Indian Government of India, government owned bank under the ownership of Ministry of Finance (India), Ministry of Finance , Government of India with headquarters in Bandra Kurla Complex, Mumbai. Founded in 1906, it ...
have integrated their system with the portal. Vidya Lakshmi was launched on the occasion of Independence Day i.e. 15 August 2015 for the benefit of students seeking
educational loan A student loan is a type of loan designed to help students pay for Higher education, post-secondary education and the associated fees, such as Tuition payments, tuition, books and supplies, and living expenses. It may differ from other types of l ...
s. Vidya Lakshmi was developed under three departments of India i.e. Department of Financial Services, Department of Higher Education and Indian Banks Association (IBA). Vidya Lakshmi Portal has been developed under the Pradhan Mantri Vidya Lakshmi Karyakram and announced by the Honorable Finance Minister Shri Arun Jaitley in the budget speech of FY 2015–16. As on August 15, 2020, 37 banks have registered on the Vidya Lakshmi Portal and offering 137 loan schemes To bridge the constraint of increasing institutional fees, NSDL e-Governance in India launched Vidyasaarathi portal to help students seeking scholarship for studies in India or overseas. Scope:
The education loan is expected to grow at a rate of 32.3 per cent in 2009-10 and
- At 39.8 per cent each in 2010-11and 2011-12 and
- 44.8 per cent during the period 2012–13 to 2014–15.
- Outward remittances for overseas education in the year ending March 2013 was $114 million


South Korea

South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korea, Korean Peninsula and sharing a Korean Demilitarized Zone, land border with North Korea. Its western border is for ...

South Korea
's student loans are managed by the Korea Student Aid Foundation (KOSAF) which was established in May 2009. According to the governmental philosophy that Korea's future depends on talent development and no student should quit studying due to financial reasons, they help students grow into talents that serve the nation and society as members of Korea. Normally, in South Korea, the default rate of redemption is related to each student's academic personalities. For instance, comparing with other majors, students in fine arts and physics are supposed to possessing a higher default rate. Therefore, students in such majors would be inclined to a higher rate of unemployment and a higher risk of default in redemption. Also, people will tend to have an inferior quality of human capital if the period of unemployment is too long.


United Kingdom

Student loans in the
United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed. The Guardian' and Telegraph' use Britain as a synonym for the United Kingdom. Some prefer to use Britain as shorth ...

United Kingdom
are primarily provided by the state-owned
Student Loans Company The Student Loans Company (SLC) is an executive non-departmental public body In the United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed. The Guardian ...
. Interest begins to accumulate on each loan payment as soon as the student receives it, but repayment is not required until the start of the next
tax year A fiscal year (or financial year, or sometimes budget year) is used in government accounting, which varies between countries, and for budget purposes. It is also used for financial report Financial statements (or financial reports) are formal ...
after the student completes (or abandons) their education. Since 1998, repayments have been collected by
HMRC , type = Non-ministerial government department Non-ministerial government departments (NMGDs) are a type of Departments of the Government of the United Kingdom, department of the Government of the United Kingdom that deal with matters for whic ...
via the tax system, and are calculated based on the borrower's current level of income. If the borrower's income is below a certain threshold (£15,000 per
tax year A fiscal year (or financial year, or sometimes budget year) is used in government accounting, which varies between countries, and for budget purposes. It is also used for financial report Financial statements (or financial reports) are formal ...
for 2011/2012, £21,000 per tax year for 2012/2013), no repayments are required, though interest continues to accumulate. Loans are canceled if the borrower dies or becomes permanently unable to work. Depending on when the loan was taken out and which part of the UK the borrower is from, they may also be canceled after a certain period of time usually after 30 years, or when the borrower reaches a certain age. Student loans taken out between 1990 and 1998, in the introductory phase of the UK government's phasing in of student loans, were not subsequently collected through the tax system in the following years. The onus was (and still is) on the loan holder to prove their income falls below an annually calculated threshold set by the government if they wish to defer payment of their loan. A portfolio of early student loans from the 1990s was sold, by The Department for Business, Innovation and Skills in 2013. Erudio, a company financially backed by CarVal and Arrow Global was established to process applications for deferment and to manage accounts, following its successful purchasing bid of the loan portfolio in 2013. There are complaints that graduates who have fully repaid their loans are still having £300 a month taken from their accounts and cannot get this stopped.


United States

In the United States, there are two types of student loans: federal loans sponsored by the federal government and
private student loans A private student loan is a financing option for higher education in the United States Higher education in the United States is an optional stage of formal learning Education is the process of facilitating learning Learning is t ...
, which broadly includes state-affiliated nonprofits and institutional loans provided by schools. The overwhelming majority of student loans are federal loans. Federal loans can be "subsidized" or "unsubsidized." Interest does not accrue on subsidized loans while the students are in school. Student loans may be offered as part of a total
financial aid Student financial aid in the United States is funding that is available exclusively to students attending a Higher education in the United States, post-secondary educational institution in the United States. This funding is used to assist in co ...
package that may also include grants,
scholarships A scholarship is an award of financial aid Student financial aid in the United States is funding that is available exclusively to students attending a Higher education in the United States, post-secondary educational institution in the Unite ...
, and/or work study opportunities. Whereas interest for most business investments is tax deductible, Student loan interest is generally not deductible. Critics contend that tax disadvantages to investments in education contribute to a shortage of educated labor, inefficiency, and slower economic growth. Prior to 2010, federal loans were also divided into direct loans (which are originated and funded by the federal government) and guaranteed loans, originated and held by private lenders but guaranteed by the government. The guaranteed lending program was eliminated in 2010 because of a widespread perception that the government guarantees boosted student lending companies' profits but did not benefit students by reducing student loan costs.Jonathan Glater, The Other Big Test: Why Congress Should Allow College Students to Borrow More Through Federal Aid Programs, 14 N.Y.U. J. LEGIS. & PUB. POL’Y 11, 37 (2011) Federal student loans are less expensive than private student loans. The federal government offers direct consolidation loans through the Federal Direct Loan Program. The new interest rate is the weighted average of the previous loans. Private loans don't qualify for this program. The interest rate of borrowers with federal student loans is nearly equal to the weighted average rate on the former loans while the new interest rate of private loans depends on the one-month London interbank offered rate. Therefore, these two student loans are different in both application and definition. Losses on student loans are extremely low, even when students default, in part because these loans cannot be discharged in bankruptcy unless repaying the loan would create an "undue hardship" for the student borrower and his or her dependents. John A. E. Pottow, The Nondischargeability of Student Loans in Personal Bankruptcy Proceedings: The Search for a Theory, 44 CAN. BUS. L.J. 245, 249-250 (2006) In 2005, the bankruptcy laws were changed so that private educational loans also could not be readily discharged. Supporters of this change claimed that it would reduce student loan interest rates; critics said it would increase the lenders' profit. Students can apply for loans to Stafford Loans with no risks; and there are around 1000 banks engaged in the student loan project. Besides, students can also think about applying for student loans with the Department of Education which enables any school to take part in its Direct Loan project.


Rising Student Debt

Federal aid policies expanded loan eligibility and shifted from grants to loans starting the rising student debt. The Federal Pell Grant, a form of federal aid for higher education students that does not need to be re-paid, only provides a maximum annual grant of $6,195 per student for the 2019-2020 award year. With the average annual tuition cost for a four year in-state public university averaging $26,590 for the 2019–2020 academic year, many students are forced to take out student loans to bridge the gap between grants and their annual tuition costs. More students over the years have been actively enrolled in universities, with for-profit universities enrollment growing by over 5 million in the past 10 years. For-profit universities enroll only 10% of the nations active college enrollment, yet hold nearly 20% of all federal student loan. States have also deprived public support and shifted the financial burden onto students by increasing the cost of tuition. With the median family income on a steady decline each year since 2007 up until 2012, it saw increasing difficulty for students to pay back college tuition out of savings and labor income. Between 2002 and 2012, public spending on education dropped 30%, while total enrollment at public colleges and universities jumped 34%. In a study conducted by the Federal Reserve Bank of St. Louis found that approximate $140 billion in student debt was loaned directly by the federal government, but by 2017, the federal government had reached $1.15 trillion.


Income-Based Repayment

The
Income-Based Repayment Income-based repayment or income-driven repayment is a student loan A student loan is a type of loan In finance Finance is the study of financial institutions, financial markets and how they operate within the financial system. It is ...
(IBR) plan is an alternative to paying back federal student loans, which allows the borrowers to pay back loans based on how much they make, and not based how much money is actually owed. Income-based repayment is a federal program and is not available for private loans. IBR plans generally cap loan payments at 10 percent of the student borrower's income. Deferred interest accrues, and the balance owed grows. However, after a certain number of years, the balance of the loan is forgiven. This period is 10 years if the student borrower works in the public sector (government or a nonprofit) and 25 years if the student works at a for-profit. Debt forgiveness is treated as taxable income, but can be excluded as taxable under certain circumstances, like bankruptcy and insolvency.Philip G. Schrag & Charles W. Pruett, Coordinating Loan Repayment Assistance Programs with New Federal Legislation, 60 J. LEGAL EDUC. 583, 590-597 (2010) Scholars have criticized IBR plans on the grounds that they create moral hazard and suffer from adverse selection. That is, IBR and PAYE encourages students to borrow as much as possible for as long as possible and largely for personal (indirect) expenses (not tuition and fees), particularly at the graduate level where there is no limit on borrowing (up to $138,500 in Staffords plus unlimited Graduate plus loans) and steer those who could have obtained high-wage jobs to take low wage jobs with good benefits and minimal work hours to reduce their loan payments, thereby driving up the cost of the IBR program. And, if IBR programs are optional, only students who have the highest debts relative to wages will opt into the program. For example, due to the formula to qualify, the vast majority of students with debts exceeding $100,000 will qualify even if earning at or near the median salary, thus they have no incentive to borrow responsibly. Historically, a number of IBR programs have collapsed because of these problems.


Qualification

Most college students in the United States qualify for federal student loans. Students can borrow the same amount of money, at the same price, regardless of their own income or their parents' incomes, regardless of their expected future income, and regardless of their
credit history :''This article deals with the general concept of the term credit history. For detailed information about the same topic in the United States, see Credit score in the United States A credit score is a number that provides a comparative estimate of ...
. Only students who have defaulted on federal student loans or have been convicted of drug offenses, and have not completed a rehabilitation program, are excluded. Borrowers from families with low income with separation are more tend to default than those from higher-income families. Also, borrowers entering repayment after sophomore are more likely to default. The amount students can borrow each year depends on their education level (undergraduate or graduate), and their status as dependent or independent. Undergraduates are eligible for subsidized loans, with no interest while the student is in school. Graduate students can borrow more per year. (Graduate and professional schools are expensive and less aid of other types is available.) Private lenders use different underwriting criteria, including credit rating, income level, parents' income level, and other financial considerations. Students only borrow from private lenders when they exhaust the maximum borrowing limits under federal loans. Several scholars have advocated eliminating the borrowing limit on federal loans and enabling students to borrow according to their needs (tuition plus living expenses) and thereby eliminating high-cost private loans.


Repayment

Federal student loan interest rates are established by Congress and listed in § 20 U.S.C. § 1087E(b). Because the interest rates are established by Congress, interest rates are a political decision. In 2010, the federal student loan program ran a multibillion-dollar "negative subsidy", or profit, for the federal government. Loans to graduate and professional students are especially profitable because of high-interest rates and low default rates. Usually, the net flow of the default rate on student loans are strongly related to the nontraditional issuer and the flowing price of the tangible assets, unlike buildings or land. However, in contrast to the positive correlation with the borrower, a change in the price normally leads to a negative influence on the default rate. These two aspects have been used to explain the Great Recession of student loan default, which had grown to nearly thirty percent. Some experts believe that the education of workers would bring societal benefits such as reducing stress on public services, reducing medical expenses, increasing incomes, and promoting employment rates. These people propose that federal student loan rates should be adjusted with specific courses, relative to the rate of risk and societal returns from various studies.OECD, Education at a Glance (2011) Normally, repayment starts six months after graduation or leaving school. It is important to note that financial relief can provide a safety net for those under intense pressure to repay, leading many towards gaining income and avoiding defaulting. With federal student loans, the student may have multiple options for extending the repayment period. An extension of the loan term will reduce the monthly payment and increase the amount of total interest paid on the principal balance during the life of the loan (the unpaid interest and any penalties become capitalized, i.e. added to the loan balance). Extension options include extended payment periods offered by the original lender and federal loan consolidation. There are also other extension options including income-based repayment plans and hardship deferments. The Master Promissory Note is an agreement between the lender and the borrower that promises to repay the loan. It is a binding legal contract.


Criticism

In coverage through established media outlets, many borrowers have expressed feelings of victimization by the student loan corporations. There is a comparison between these accounts and the college credit card trend in America during the 2000s, though the amounts owed by students on their student loans are almost always higher than the amount owed on credit cards. Many anecdotal accounts of the hardships caused by excessive student loan debt levels are chronicled by the organizatio
Student Loan Justice
which is founded and led by consumer rights advocate and author Alan Collinge. Student loans cannot be discharged in a bankruptcy proceeding unless the debtor can demonstrate "undue hardship." After the passage of the bankruptcy reform bill of 2005, even private student loans are not discharged during bankruptcy. This provided a credit risk free loan for the lender, averaging 7 percent a year. In 2007,
Andrew Cuomo Andrew Mark Cuomo (; ; born December 6, 1957) is an American politician, author and lawyer serving as the 56th governor of New York The governor of the State of New York is the head of government of the U.S. state of New York (state) ...

Andrew Cuomo
, then Attorney General of New York State, led an investigation into lending practices and anti-competitive relationships between student lenders and universities. Specifically, many universities steered student borrowers to "preferred lenders" which resulted in those borrowers incurring higher interest rates. Some of these "preferred lenders" allegedly rewarded university financial aid staff with "
kickbacks A kickback is a form of negotiated bribery Bribery is defined by ''Black's Law Dictionary ''Black's Law Dictionary'' is the most widely used law dictionary Image:Legal Dictionaries.jpg, 300px, Several English and Russian legal dictionaries A la ...
". This has led to changes in lending policy at many major American universities. Many universities have also rebated millions of dollars in fees back to affected borrowers. The biggest lenders,
Sallie Mae SLM Corporation (commonly known as Sallie Mae; originally the Student Loan Marketing Association) is a publicly traded U.S. corporation that provides consumer banking. Its nature has changed dramatically since it was set up in 1973. At first, it ...
and
Nelnet Nelnet, Inc., is a United States-based conglomerate Conglomerate or conglomeration may refer to: * Conglomerate (company) * Conglomerate (geology) * Conglomerate (mathematics) In popular culture: * The Conglomerate (American group), a productio ...
, are frequently criticized by borrowers. These lenders often find themselves embroiled in lawsuits, the most serious of which was filed in 2007. The false claims suit was filed on behalf of the federal government by former Department of Education researcher Jon Oberg against Sallie Mae, Nelnet, and other lenders. Oberg argued that the lenders overcharged the U.S. government and defrauded taxpayers of millions and millions of dollars. In August 2010, Nelnet settled the lawsuit and paid $55 million.
The New York Times ''The New York Times'' is an American daily newspaper based in New York City with a worldwide readership. Founded in 1851, the ''Times'' has since won List of Pulitzer Prizes awarded to The New York Times, 132 Pulitzer Prizes, the most of a ...

The New York Times
published an editorial in August 2011 endorsing the return of bankruptcy protections for private student loans in response to the economic downturn and universally increasing tuition at all colleges and graduate institutions. Since 2005, Bankruptcy reform lead debtors have to take the responsibility of private student loan debt in bankruptcy which can decline debtors’ intention of reducing costly defaults to declare bankruptcy. As of 2013, many economists are predicting a new economic crisis will emerge as a result of an estimated $1 trillion of student loan debt currently impacting two thirds of graduating college students in America. However, most economists and investors believe that there is no student loan bubble. In 2020 president Joe Biden promised student loan forgiveness.


Hong Kong

The loan scheme for Hong Kong students was introduced in 1969. This scheme aimed to help full-time students at two universities: the Chinese University of Hong Kong and Hong Kong University. The program was extended in 1976 to cover full-time students in the Hong Kong Polytechnic, and further extended in 1982 to cover post-advanced level students in the Hong Kong Baptist College. In 1984 loans were expanded to include students in the new city Polytechnic. The scheme is controlled by the secretary of the university and Polytechnic Grants Committee, which is advised by the Joint Committee On Student Finance. The applicant of the loan scheme must have resided or been domiciled in Hong Kong for three years immediately prior to application. In 1990, a new government office, the Student Financial Assistance Agency, was also established to coordinate the administration of the student loan scheme.


See also

*
College tuition in the United States College tuition in the United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country Continental United States, primarily located in North America. It consists of 50 ...
*
EdFund EdFund is the United States' second largest provider of student loan guarantee services under the Federal Family Education Loan Program The Federal Family Education Loan (FFEL) Program was a system of Private student loan (United States), priva ...
*
Free education Free education is education Education is the process of facilitating learning, or the acquisition of knowledge, skills, value (ethics), values, morals, beliefs, habits, and personal development. Educational methods include teaching, trai ...
*
Higher Education Bubble The higher education bubble in the United States is a highly controversial claim that excessive investment in higher education could have negative repercussions in the broader economy. According to the claim, generally associated with fiscal c ...
*
Higher Education Price Index The Higher Education Price Index (HEPI) is a measure of the inflation In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency b ...
*
Post-secondary education Tertiary education, also referred to as third-level, third-stage or post-secondary education, is the education Education is the process of facilitating learning, or the acquisition of knowledge, skills, value (ethics), values, morals, ...
*
Private university Private universities and private colleges are usually not operated by governments, although many receive tax breaks Tax break also known as tax preferences, tax concession, and tax relief. Tax breaks are a method of reduction the tax liability ...
*
Student benefit Student financial aid in Finland consists of government payments (through Kela) that provide economic security to students and enable all students to study. Almost all Finnish students receive financial aid, including foreigners who are permanent r ...
*
Student debt Student debt is a form of debt Debt is an obligation that requires one party, the debtor A debtor or debitor is a legal entity (legal person) that owes a debt Debt is an obligation that requires one party, the debtor, to pay mon ...
*
Tuition agency Tutoring is private academic support, usually provided by an expert teacher; someone with deep knowledge or defined expertise in a particular subject or set of subjects. A tutor, formally also called an academic tutor, is a person who provides ...
* Tuition center *
Tuition fees Tuition payments, usually known as tuition in American English American English (AmE, AE, AmEng, USEng, en-US), sometimes called United States English or U.S. English, is the set of variety (linguistics), varieties of the English languag ...
*
Tuition freeze Tuition freeze is a government policy restricting the ability of administrators of post-secondary educational facilities (i.e. college A college (Latin Latin (, or , ) is a classical language A classical language is a language ...


References


Further reading

* Manning, Robert D. (1999). “Credit Cards on Campus: The Social Costs and Consequences of Student Debt.” Washington, D.C.:
Consumer Federation of America The Consumer Federation of America (CFA) is a non-profit organization founded in 1968 to advance consumer interests through research, education and advocacy. According to CFA's website, its members are nearly 300 consumer-oriented non-profits, w ...
. * Schemo, Diana Jean
"Private Loans Deepen a Crisis in Student Debt"
''The New York Times'', June 10, 2007
"New Default Rate Data for Federal Student Loans: 44% of Defaulters Attended For-Profit Institutions"
The Pew Charitable Trusts The Pew Charitable Trusts is an independent non-profit A nonprofit organization (NPO), also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, p ...
, Project on Student Debt, Berkeley, California, December 15, 2009
Studentaid.ed.gov on Federal Perkins Loan Teacher Cancellation


External links


"UNITED NATIONS: Education Policy and Reform"


''
U.S. News & World Report ''U.S. News & World Report'' is an American media company that publishes news, opinion, consumer advice, rankings, and analysis. Founded as a news magazine in 1933, ''U.S. News'' transitioned to primarily web-based publishing in 2010, although it ...
''. October 19, 2003.
"College, Inc."
PBS FRONTLINE documentary, May 4, 2010 {{DEFAULTSORT:Student Loan Loans Education finance Personal finance