New Rules Require More Sunshine on Terms of Private Student Loans (The Chronicle of Higher Education)
22 September 2009
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“Beginning in February, new regulations from the Federal Reserve Board will require lenders to disclose more information about private student loans, including interest rates and estimated monthly payments,” The Chronicle of Higher Education reports. “The new rules, which were put in place last week, stem from last year’s legislation to renew the Higher Education Act. They have been hailed as good for student borrowers and were largely uncontroversial among lenders. But financial-aid officers and some higher-education experts say the changes do not go far enough.”
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