Here are the best articles from around the web this week talking about student loans…

For the week ending Friday March 01, 2013

Student Loan News:

1. Six Weeks From Launch, “Mint For Student Loans” Contender Tuition.io Hits $250M Under Management, Lands $1M In Seed:

Currently, outstanding national student loan debt is over $1 trillion, $864 billion of which is backed by ye olde federal government. According to the Center for American Progress, the majority of those loans have an interest rate higher than six percent — generally speaking, twice the average mortgage rate and is thrice the rate at which the government borrows. In the American education system, student debt is the 8,000-pound elephant in the room.

Tuition.io, the startup formerly-known-as Binksty, is one of a handful of companies trying to give college students some much-needed help in the loan department. A member of Launchpad LA accelerator‘s fourth class, Tuition.io wants to become the Mint.com for student loans by allowing student borrowers to manage their loans from a single interface and by providing a suite of tools to help them find the most relevant repayment options. Know More : http://techcrunch.com/2013/02/27/six-weeks-from-launch-mint-for-student-loans-contender-tuition-io-hits-250m-under-management-lands-1m-in-seed/

Obama Speech About Student Loan

2. The real scoop about the costs and benefits of student loans:

Student loan debt has already surpassed credit card debt and tipped the scales at more than $1 trillion, according to Consumer Finance Protection Bureau reports.

Because of this, many people have become upset about why their tax money is being used by the federal government for student loans in the first place.

This brings up an important thing to consider, namely, what are the real costs of federal student loan lending, and what are the tangible benefits?  Visit : http://www.deseretnews.com/article/865573766/The-real-scoop-about-the-costs-and-benefits-of-student-loans.html

3. Evaluate Student Loan Repayment Assistance Programs Before You Apply:

Despite talk of economic recovery, it remains a tough time for many with student loan payments to make.

And—despite the fact that the last quarterly report from the Federal Reserve Bank of New York highlighted an increase in student loan balances 90 or more days delinquent, which may approach a possible 22 percent of all student loans—Capitol Hill isn't offering a TARP-style student debt bailout. Education programs could even be cut to 5.1 percent below current levels if the sequester cuts go through as scheduled on March 1. Visit: http://www.usnews.com/education/blogs/student-loan-ranger/2013/02/27/evaluate-student-loan-repayment-assistance-programs-before-you-apply

Student Loan Blog Posts:

 1. Student-Aid Association Suggests Changes in Student-Loan System:

While the average graduating senior who took out student loans leaves college with what should be a manageable level of loan debt—around $26,500—concerns about student debt are persistent and widespread.

The National Association of Student Financial Aid Administrators took account of that broad concern and decided to convene a task force of its members to comb through research and trends, and offer recommendations for improving the student-loan system. Visit: http://chronicle.com/blogs/headcount/student-aid-association-suggests-changes-to-loan-system/34057

2. How do we pay off huge student loan debt?

My husband has $250,000 in student loan debt. He has been paying the minimum and deferring them while he's between jobs. I ran the numbers and realized that if we were to keep paying the minimum, we'd pay $2,500 per month until 2045! But, if we live frugally for three years we can get rid of the bigger loans ($170,000 between 6 percent and 8.5 percent), and pay off the rest with the monthly minimum for another seven years.

We also want to build some savings and open a managed investment account. We'd like to buy a small apartment (we live in New York City) in the next five years and have a baby. Know more: http://www.bankrate.com/finance/debt/pay-off-huge-student-loan-debt.aspx

3. Student loans help women more than men in reaching graduation:

Findings showed that, on average, taking out loans actually makes graduation more likely for all students. But at a certain point – which is about $2,000 lower for men than for women debt has diminishing returns and becomes less effective at boosting chances of graduation. One reason loans help women more may be tied to job prospects for college dropouts which are much better for men than for women.

“At least early in their careers, women suffer more than men if they don't have a college degree,” said Rachel Dwyer, co-author of the study and associate professor of sociology at Ohio State University.  Read more : http://phys.org/news/2013-02-student-loans-women-men.html

PayMyStudentLoans.com Around The Web:

1.http://blog.familymoneyvalues.com/2013/02/carnival-of-money-pros-snow-edition/

2.http://lifeinsurancebyjeff.com/carnival-of-financial-planning/

3.http://moneymastermom.com/lifestyle-carnival/

4. http://www.onesmartdollar.com/the-money-mail-carnival-fifteenth-edition/