With college just starting up or about to start shortly, the news and views are heating up.  Here are some items of interest in the spotlight. 

Beloit College Mindset List Class of 2013

Every year Beloit College, a private liberal arts college located in Beloit, Wisconsin, comes out with a list of what the current freshman class has experienced throughout their lives or what may not have been a part of their lives.   

Here are the first ten in the list and also #28 which refers to Bobby Cox-Atlanta Braves manager (we couldn’t skip this once since we’re based in Atlanta).  For the complete listing, go to http://www.beloit.edu/mindset/2013.php

1. Dan Rostenkowski, Jack Kevorkian, and Mike Tyson have always been felons.

2. The Green Giant has always been Shrek, not the big guy picking vegetables.

3. They have never used a card catalog to find a book.

4. Margaret Thatcher has always been a former prime minister.

5. Salsa has always outsold ketchup.

6. Earvin “Magic” Johnson has always been HIV-positive.

7. Tattoos have always been very chic and highly visible.

8. They have been preparing for the arrival of HDTV all their lives.

9. Rap music has always been mainstream.

10. Chocolate chip cookie dough ice cream has always been a flavor choice.

28. Bobby Cox has always managed the Atlanta Braves.

Trends in Student Loan Industry 

• Credit underwriting standards have been raised as credit performance within the student loan industry has been strained due to the current recessionary environment.
• Loan default rates have materially increased.
• Immediate repayment option is being emphasized.
• Obama administration proposal to have federal Direct Loan Program replace FFELP in 2010.

How will this impact those that are applying for or receiving student loans

•  You will need to get a co-signer if credit is marginal or worse.
• Private loans are getting more difficult to get.
• The amount of unmet need is likely to rise.
• The majority of disbursements will be going directly to the school.

Banks Increase Margins on Private Student Loans

Many large banks have recently increased their margins on the funding of both new and existing Private Student Loans.  Some of these increases have been without warning..

If you currently have existing Student Loans with a financial institution that has increased your rate, you may want to consider your options to refinance that loan.

US News and World Report-Solving the College Crisis

This edition has something for everyone who plans to go to college or may currently be in college.  It’s divided into four sections:

• 1. How To Fix Higher Education
• 2. The Changing Face of College
• 3. Paying For College
• 4. The Rankings

Resources-US News and World Report, Chase Bank, Chronicle of Higher Education, Inside Higher Education

Tags: Beloit College, Bobby Cox Atlanta Braves, College Crisis, College Loans, Financial Aid, Higher Education, Paying For College, Rising Student Debt, The Changing Face of College