College students looking for private loans have fewer options. Minnesota Daily reports after nearly 40 years in the student-loan business, Minneapolis-based U.S. Bancorp is going to pull out of the student loan market. A company spokesperson said U.S. Bank was a "very small player" with less than 1.5 percent of the student-lending market share. JPMorgan Chase has also decided to only lend student loans to existing customers.
St. Paul: Man called police to report he killed his wife
Police are also investigating a separate fatal shooting in the Frogtown neighborhood.
Timberwolves survive Knicks' second-half barrage to get back to .500
Karl-Anthony Towns' lay-in helped Minnesota get a win in The Garden.
No travel advised: High winds, whiteout conditions in NW MN
Zero visibility in parts of greater Minnesota Tuesday night.
Update: Holy Angels evacuated over bomb threat, school says
Someone left a voicemail early Tuesday suggesting there was an explosive device.
Convicted stalker charged with harassment of another DJ at The Current
He pleaded guilty to similar charges involving the DJ's colleague back in 2015.
Gophers fall below roster minimum, postpone Penn State game
It is "due to internal COVID-19 protocols within the Golden Gopher program."
Report: Vikings request interview with Rams' Raheem Morris
Morris was once the youngest head coach in the NFL at 33 years old.
Sheriff: Drunk driver crashed trying to 'beat the train'
The BNSF train slammed into the side of the driver's car.
Man run over after parking dispute leads to road rage crash
The two groups fought about parking prior to the crash.
Deadly crash shuts down small stretch of Chaska highway for hours
A driver crossed over the center median and hit another vehicle.
U.S. Bancorp third-largest mortgage lending originator
U.S. Bancorp beat banking giants Bank of America and Citigroup in the first quarter of the year. Wells Fargo and JPMorgan Chase continue to dominate the unrivaled market share.
State officials fret over Minnesota student loan defaults
More than 9,500 higher education students in Minnesota have defaulted on federal student loans in the past three years, new data from the U.S. Department of Education shows, the Star Tribune reports. The overall default rate is lower than the national average, but state officials are still eyeing the statistics with concern.
Democrats Peterson and Walz vote for GOP student loan interest rate plan
Minnesota Congressmen Collin Peterson and Tim Walz voted in favor of the $5.9 bill that would prevent the interest rate on federally-subsidized student loans from doubling this summer by cutting funds from part of President Obama's health care law. It now heads to the Democratic-controlled Senate where the plan is dead on arrival. Republican U.S. Rep. John Kline says the legislation isn't perfect, "but it will allow us an opportunity to continue working toward a long term solution."
U.S. Bank settles overdraft suits for $55M
Minneapolis-based U.S. Bancorp has aggreed to pay out $55 million to settle lawsuits accused of imposing imposed excessive overdraft fees on customers. If a federal judge approves the settlement, the Star Tribune reports more than a million U.S. Bank customers could see some money returned. U.S. Bancorp is among more than 30 lenders being sued over the fees.
Kline sits at center of national student loan debate
As chairman of the House Education and the Workforce Committee, Rep. John Kline has challenged President Obama every turn. But it's his stance on Stafford Loans for college students, which could double on July 1, that has sparked a national debate. The Star Tribune looks at how this debate is reverberating across the Minnesota and the nation.
Minnesota college students taking out more and bigger loans
The Office of Higher Education reports Minnesota students are taking out more loans and going deeper into debt. Overall borrowing was up ten percent in two years. Some of that is due to an increase in students but the office's director says it may also reflect more financial need amid the sluggish economy.
Delta loan repayment will end job commitments in Minnesota
Delta plans to pay off what's left on a Metropolitan Airports Commission loan it inherited from Northwest Airlines. Once the loan is repaid, Delta will no longer be bound by a commitment to keep at least 10,000 jobs in Minnesota. The airline currently has 12,000 employees here.
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