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Student Loan Related

Consumer Assistance Project Website Raises Real Concerns. Be Careful.

Big Scam Dog

A reader just submitted a complaint report about a company called Consumer Assistance Project. The consumer said the company said that for a fee they could “help eliminate debt and because I am a teacher, it was to be very successful.” The fee charged is alleged to be $5,698. This of course raised substantial red flags for me since there ... Read More »

Direct Student Aid Commercial Catches My Attention

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A recent commercial for Direct Student Aid caught my attention. It seems the company is advertising it can offer some sort of special help for people who are having student loan problems. A secret shopper call, which you can hear below, found out the company charges between $799 to $999 for a service consumers can get for free from their ... Read More »

Student Loan Debt Robs Many of Retirement

Screen Shot 2013-08-20 at 4.20.56 PM

A new report out by the public policy organization Demos, confirms what I’ve feared for too long. Student loan debt robs people of retirement wealth. The growing burden of student loan debt and the limited options to manage that debt are leading to more and more people becoming so caught up in financial slavery that their very ability to properly ... Read More »

Thom Fox Interviews Steve About Debt Relief Options

a manatee

Thom Fox co-hosts a radio show “The Engine” and spent some time talking to me recently about the debt relief world today and what good options are available for consumers. It was a great interview since Thom knows the credit counseling world like a Boss! He used to work for Cambridge Credit Counseling but has moved out on his own ... Read More »

Being Sued for a Federal Student Loan? Don’t Panic. Read This!

total student loan suits

A friend asked me recently what really happens to people who are being sued over a defaulted federal student loan that was referred to the Department of Justice by the Department of Education. So I had to do what I typically do with these types of questions and spent hours and hours pouring over lawsuits by the United States of ... Read More »

The Explosion of Student Loan Debt in Pretty Pictures. OMG!

3 bikini models on rocky beach

For those dealing with paying for education using student loans here are a couple of excellent charts put together by a Raleigh neighbor and brainiac Doug Short. As you can see, the explosion or pole vault of college cost and the rocket like trajectory of federal loans to students don’t paint a rosy picture for the affordability of a higher ... Read More »

These Private Student Loans Can Be Easily Discharged in Bankruptcy

don't believe

In my recent article and research on the discharge of Sallie Mae and private student loans, here, I discovered there is a special subset of private student loans that can be easily discharged in a consumer bankruptcy filing. In fact, not only can they be discharged but when they are pointed out as meeting the criteria you will read about ... Read More »

Proposed Student Loan Changes May Make It Easier to Pay

Student Loan Corkboard Concept

The Department of Education will publicly issue a notice of proposed rulemaking tomorrow that could make it easier for people with loans from the Federal Perkins Loan (Perkins) Program, Federal Family Education Loan (FFEL) Program, and William D. Ford Federal Direct Loan (Direct Loan) Programs. Consumers wishing to offer any public comment on these proposed rules may do so visiting ... Read More »

A Look at Sallie Mae and Other Student Loans Discharged in Bankruptcy in 2012

Bankrupt

This article is part of my ongoing look at the possibility of discharging student loans in bankruptcy. It is a followup to my article here where I looked at federal student loans that received a modification, settlement or elimination as part of a bankruptcy adversary proceeding filing in 2012. This time I’m taking a look just at the cases in ... Read More »

Federal Student Loans Discharged in Bankruptcy. A Look at the Surprising 2012 Data and Cases.

The actual granular data presents a surprising reality.

The more I research and study the reality of dealing with student loans through bankruptcy the more I am under the opinion the data does not support the assumptions many have that no good options are available in bankruptcy for student loans. In fact my research appears to show that even for government backed student loans there are some significant ... Read More »

Another Example of Student Loans Discharged in Bankruptcy

bankruptcy-1

I’ve been writing more about bankruptcy cases that have resulted in student loan discharges, see here. And in doing some more research I came across another case from 2012. In the Northern District of Georgia a consumer was able to get the following loans discharged: Oakland Community College – $754.80 Texas Guarantee Student Loan – $48,135 U.S. Department of Education ... Read More »

Florida Man Discharges Federal Student Loans in Bankruptcy

thumb up

Attorney Marilyn Hochman recently scored a victory in discharging federal student loans in a bankruptcy case. The consumer was able to discharge $8,223.49 in federal student loans without opposition by the Department of Education. Foster, the consumer, was unemployed and had previously filed for Social Security disability but was denied due to “not enough information.” Marilyn Hochman filed an adversary ... Read More »

Big Case Proving Ability to Discharge Student Loans in Bankruptcy

College Tuition Expenses

Times are changing when it comes to being able to discharge student loans in bankruptcy. And while the road has been paved by a few who have been successful, one 2013 case decided by the U.S. Appeals Court in the Ninth Circuit seems like it gives hope to those who want to discharge their student loans through bankruptcy. The Ninth ... Read More »

The Growing Impossibility of Affordable Student Loans

college costs

Student loan debt is an impossible crisis that is the result of the divergence of society assumptions and affordability. The chart below clearly shows how the cost of both a public and private college education, while assumed to be the path to success, is becoming out of reach. The chart shows the inflation adjusted increases in costs and as you ... Read More »

Student Loan Infographic. Yep, Student Loans Suck.

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Read More »

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