The Coalition For Better Student Loans

The Coalition for Better Student Loans is a groupin the first two years of post secondary education
comprising of parents, financial administrators, loanand the creation of flexible borrowing accounts for
providers and organizations that represent more thanthe remaining period of undergraduate study. It is
2,000 colleges and universities across the Unitedalso trying to increase the loan limits for graduate and
States. The main function of this group is to bringprofessional students. The coalition wants the
about changes in the federal loan system and to findorigination fee, which is charged to low income
ways so that more students can opt for higherstudents when they take an educational loan for
education.higher studies, to be abolished. As per the federal
The group has some of the most important financiallaw, a student can repay the loan after 10 years of
administrators and organizations as its members.availing it. The coalition wants the government to
American Council on Education, Association ofintroduce greater initial repayment flexibility for
American Universities, College Parents of America,students and the use of interest only or part interest
Consumer Banker's Association, Education Financeplans and extended period of repayment.
Council, National Association of Independent CollegesConsolidation loans were originally created by
and Universities, National Association of StateCongress to simplify the process of loan repayment
Universities and Land Grant Colleges, Nationalfor borrowers who had multiple loans and to help
Association of Student Financial Aid Administrators,them have lower monthly payments. The coalition
National Association of Higher Education Loanproposes to extend use of loan consolidation for the
Programs and Sallie Mae all go up to make thebenefit of students. The coalition also wants the
Coalition for Better Student Loans.Congress to give $1 billion for loan forgiveness
The Coalition is working towards increasing loan limitsprograms.