student loans

Ryan Delaney / WRVO

As the debt load of recent college graduates continues to rise, New York's junior senator is stumping for a new bill that will cut the interest rate on federal student loans by nearly half.

Sen. Kirsten Gillibrand (D-N.Y.) is one of about two dozen Democrats backing a bill that will reduce the loan rate on undergraduate loans to about 3.8 percent, from the nearly seven percent they sit at now. The bill would also bring down the interest rates for graduate school loans.

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Gov. Andrew Cuomo’s newly formed Student Protection Unit has launched an investigation into the student debt relief industry.

Led by the state Department of Financial Services (DFS), it’s designed to be a consumer watchdog for New York students. And, one day after being established in the 2014 Executive Budget address, the unit issued subpoenas to 13 companies in its first official action.

Obama to make a stop in Syracuse

Aug 14, 2013
whitehouse.gov

The White House has confirmed that President Barack Obama will travel to Syracuse next week as part of a two-day bus tour to lay out his plan for reducing college costs.The president will also stop in Buffalo, Binghamton and northeastern Pennsylvania.