Lending Perspectives: Our role in solving the student loan crisis

first_img continue reading » Recently, a group of credit unions that made private student loans to consumers who attended ITT Technical College were ordered to pay $7 million to finalize a previous settlement. This $7 million was on top of the $150 million in loans that had been ordered by a court to be forgiven.In 2014, ITT Technical College made Time magazine’s list of “the five colleges that leave the most students crippled by debt” before its closing and bankruptcy in 2016. Before 2016, a year’s tuition at ITT ranged from $45,000 to $85,000, depending on the degree program. Unlike the old adage about “you get what you pay for,” many of the students received a worthless degree.Over the last 20 years, the costs of college education and the resulting debt have gone up faster than personal incomes. There is no way we as an industry can look at this as anything other than an unsustainable trend. But what’s causing it? Pew Trust has shown that while higher education is supported by both state and federal funding, states have slowed the growth of spending on high education. First result: a larger gap borne by students. Second result: that gap has been financed by an exponential growth in private student lending. Third result: a generation of college grads are now faced with nearly catastrophic debt. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Technology Companies Could Face Bans If They Don’t Follow Regulations, Warns EU Industry Chief

first_imgShould the government explain why Chinese apps were banned? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below.For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. Technology companies’ services could be banned from the European market if they do not follow European Union regulations, Europe’s industry chief Thierry Breton told German weekly Welt am Sonntag, as the European Commission finalises rules on internet companies. Breton will announce new draft rules known as the Digital Services Act and the Digital Markets Act together with European Competition Commissioner Margrethe Vestager on December 2.The rules will set out a list of do’s and don’ts for gatekeepers — online companies with market power — forcing them to share data with rivals and regulators and not to promote their services and products unfairly- Advertisement – The new draft rules come as critics of US tech giants, which include companies and industry bodies, question the EU’s rulings against Alphabet unit Google, saying they have not curbed its allegedly anti-competitive behaviour. Some want EU enforcers to go further than just ordering companies to stop such practices. The draft rules would allow the EU to ban companies or part of their services from the 27-country bloc as an extreme optionUntil the draft rules are adopted EU antitrust and digital regulators do not currently have the power to impose such bans. “Strict rules must be enforceable”, Breton told Welt am Sonntag. “For this, we need the appropriate arsenal of possible measures: Impose fines, exclude companies or parts of their services from the Single Market, insist that they split up if they want to keep access to the Single Market or a combination of all of these.”He added that these sanctions would only apply to companies that do not respect the EU’s rules, and that the toughest measures would only be used in exceptional circumstances. In a sign of how much tech firms fear the new regulation, Google unit last month launched a 60-day strategy to get US allies to push back against the EU’s digital chief.- Advertisement –last_img read more

Nikhat Zareen helps NE Rhinos rally to beat Brawlers

first_img 10 months ago Exclusive: Nikhat Zareen replies to Mary Kom’s “Who is She” remark NE Rhinos’ Nikhat Zareen beat Pinki Rani of Bengaluru Brawlers in the women’s 51kg to help her team notch up a win on the second day of the Big Bout Indian Boxing League here on Tuesday. Pinki Rani gained the upper-hand in the first round, impressing the judges. That brought Nikhat Zareen under pressure and she responded well to rally to a 3-2 verdict in the most eagerly awaited bout of the day.READ: India wins 10 medals in athletics in 2019 South Asian GamesNE Rhinos rally from 1-3 to 4-3She inspired NE Rhinos to rally from 1-3 down to 4-3 win against the Brawlers. Daksh and Laldin Mawia posted victories in the men’s 75kg and men’s 52kg bouts over Nitin Kumar and Ashish Insah to help NE Rhinos pull the rug from under Bengaluru Brawlers’ feet. Daksh was overwhelmingly dominant while Laldin Mawia claimed a split decision win. NE Rhinos picked up their first point through Mandeep Jangra who marked his return to the boxing ring with a hard-fought split decision win over Dinesh Dagar in the men’s 57kg bout. Mandeep, who has been away from the limelight for a while now, showed no signs of nerves as he let Dinesh tire himself with an aggressive approach. He waited for the right opening to land scoring punches and win the approval of four of the five judges.READ: Arizona Cardinals player Josh Shaw bet against his OWN team and lost, suspended by NFLHow the NE Rhinos overcame all odds?Reyal Puri, Simranjeet Kaur and Gaurav Bidhuri’s victories for the Brawlers left the NE Rhinos facing a tall order. Reyal Puri gave Uzbek boxer Ergashev Timor a bloodied nose in the second round of the opening bout to force the referee to stop the 91kg class contest. The 2018 World Championship bronze medalist Simranjit Kaur dished out a few lessons to 19-year-old Jony in women’s 60kg clash while the seasoned Gaurav Bidhuri secured a split decision over the energetic and competitive Mohammed Etash in the men’s 57kg bout. But needing to win one of the remaining three bouts, Bengaluru Brawlers were unable to find a winning finish. Predictably, the North-East Rhinos blocked the youth women’s 57kg bout that would have pit Arshi Khanam against Neha Kasnyal. The system of blocking a bout has been introduced in the Big Bout as a strategic element to increase the concept of team sport in what is essentially an individual sport. No team can block the same boxer more than twice in the Big Bout. READ: Bala Devi scores a brace; India thrash Maldives 5-0 at South Asian GamesREAD: MLB trade rumours: Texas Rangers could sign New York Yankees player Miguel Andujar Written By 9 months ago Tokyo Olympics 2020: Nikhat Zareen wants to fight Mary Kom in trial WE RECOMMEND COMMENT SUBSCRIBE TO US FOLLOW US WATCH US LIVEcenter_img 10 months ago Kiren Rijiju: ‘More excited to see old, specially-abled, kids at ADHM’ Press Trust Of India First Published: 3rd December, 2019 22:30 IST Last Updated: 3rd December, 2019 22:30 IST Nikhat Zareen Helps NE Rhinos Rally To Beat Brawlers NE Rhinos’ Nikhat Zareen beat Pinki Rani of Bengaluru Brawlers in the women’s 51kg to help her team notch up a win in the Big Bout Indian Boxing League LIVE TV 10 months ago Sushil Kumar slams Mary Kom, says no one is above rules and trials 9 months ago Mary Kom to play for Punjab Royalslast_img read more