Alan Collinge
Founder
StudentLoanJustice.org
Alan Collinge is a student loan activist whose organization represents
thousands of former college students who’ve run afoul of the American
student loan system. How well is the U.S. government doing in the stu-
dent loan business, in his opinion?
Is the impending federalization of Stafford and PLUS loans
consumer-driven?
No. It’s driven by governmental interests. Policy architects want to
implement a system with fewer moving parts. Unfortunately, the chang-
es and benefi ts will be largely internal to the government. From the
consumer’s perspective it will look very much the same, and it’s likely
to exhibit the same predatory characteristics.
Read his entire interview, and others on the topic of SAFRA,
at
TodaysCampus.com/articles/load.aspx?art=1826
1 Consolidation Loan
Consolidation loans pay off other student loans. FFEL Consolida-
tion Loans pay off Stafford, PLUS and Perkins loans, resulting in
Co-
Mini- Will you Will you
Consol-
one federally insured loan with new terms and a single monthly
For stu-
For
maker
mum consoli- con-
idates Consoli-
payment. Repayment begins immediately. The interest rate is a
dents?
par-
re-
loan date a solidate
Staf- dates
blended result of the rates on the loans being consolidated. Rates
ents?
quired?
amount loan in a loan in
ford & private
and terms are subject to change without notice. Certain qualifi ca-
($) arrears? default?
PLUS loans?
loans?
tions or behavior may be required to qualify for discounts, rebates,
rewards and special offers.
Chase Private Consolidation Loan Yes No
Some-
times
7,500 Never Never No Yes
SAFRA
Elena
Alan Kerri
Terry Shelley Joe
Lubimtsev
Collinge Moseley-
Kell Saunders Kakaty
Hobbs
Read the complete interviews on the topic of SAFRA,
at
TodaysCampus.com/articles/load.aspx?art=1826
62 T
oday’s
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ampus subscribe at no charge at
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