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Tag Archives: student loan debt

CFPB Takes Student Loan Problems Seriously

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Rohit Chopra is not only the Assistant Director for the Consumer Financial Protection Bureau but also the Student Loan Ombudsman there. As an example of how slow government can work at times is the slow pace of solutions for people facing private student loan debt. Currently options are limited and without any long term payment reduction solutions like those available ... Read More »

Student Loan Debt Robs Many of Retirement

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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 »

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

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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 »

Student Loan Debt by Generation. Sorry Gen X and Millennials.

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Here is a nifty infographic showing the generational difference and growing danger of student loan debt. Looks like Generation X, those born between 1965 and 1984 is sinking fast. But more Millennials are loaded up with debt than any other generation. And this is what an unfolding crisis looks like. Get Out of Debt Guy – Twitter, G+, Facebook If ... Read More »

Student Debt Kills Dreams

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The amount outstanding on student loan debt continues to increase past the point it blew the roof off how much people owe on all credit card debt. Imagine, people owe more in student loan debt which is nearly generational debt. In most cases it can’t be discharged in bankruptcy and with parents and grandparents co-signing for some of these loans ... Read More »

Is Suicide an Option to Get Out of Student Loan Debt? – Michael

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“Dear Steve, Student loan debt. Suicide as the option to get out. Do not want to work the rest of life thinking about this debt. If I cannot be free, I would prefer to be dead. I am going to die anyway. What possible difference can it make? I am also in debt on student loans, and have considered suicide. ... Read More »

Student Loan Debt Significantly Erodes Hope for Financial Future

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There is no good news about student loans. While everyone has had their eye on credit card debt, it’s the stupid student loans that are the exploding problem. Since student loans can’t be discharged in bankruptcy, once you are on the hook for the loans it can damn near be a financial death sentence. The Federal Reserve Bank of New ... Read More »

How to Manage Student Loan Debt

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Count yourself among the privileged few if you finish college without accumulating a lot of debt. Unfortunately, the majority of college graduates have student loans to pay off. Depending on the amount of debt you’ve built up, you could end up forking over a portion of your paycheck for years, or even decades, after you leave school. So, you need ... Read More »

Student Loans – People Speak Out About Drowning in Student Loans

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Here is our latest video on debt. This time it’s all about the burden of student loans. Nothing says frustration like a lifetime of debt for a degree you never finished. Get Out of Debt Guy – Twitter, G+, Facebook Read More »

Alex Went to Law School, Business School and is Now Buried in Student Loans

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“Dear Steve, I went to both law school and business school. I dropped out of law school after a year and a half but borrowed a lot of money for that time since law school is quite expensive, especially for a private school. This pretty much set me back. Business school wasn’t as expensive. I now have over $108,000 dollars ... Read More »

I’m Supposed to Pay Her Student Loan But Can’t. – Stoney

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“Dear Steve, I am on unemployment and divorced and in the agreement I had to pay her student loan. First off she said it was mine but I never had a student loan when I went to school . I have been unemployed for over 6 months and all the websites I have visited want the person whose name is ... Read More »

I’m Going to Take Out a Student Loan to Go to Nursing School – Sandra

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“Dear Steve, I am considering taking on a federal Stafford loan in order to go to nursing school at a private school. Tuition is $25,000-30,000. I am single, in my 40′s work full time. Should I pay the loan off ASAP, before acquiring any further debt? I want to get a house soon and don’t know if this loan will ... Read More »

Medical Student Debt Leads To Thoughts Of Suicide and Burnout

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Having worked for years in the medical field I applaud anyone that decides that they want to become a doctor. But I’ve met my share of people that seem to have become doctors for “the money” or who once they became doctors, wanted to do something else with their lives. Being a doctor is not easy, but being a medical ... Read More »

I’m $211,000 in Student Loan Debt to Become a Lawyer. I Don’t Want to Be an Attorney Anymore. – Jacob

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Jacob “Dear Steve, I’m a 26 year old male who is a third year law student. I have a significant amount of debt. I have 26K in personal unsecured debt, and $211K in student loan debt. The student loan debt was amassed from attending a private university for five years and three years of law school. While in undergrad, I ... Read More »

We Owe $191,000 in Student Loans And I Need to Go Back to School. – Rob

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“Dear Steve, Myself and my wife are both out of college. I went to a private university, big mistake as my mother tried to tell me, and now between the two of us we are about $191,000 in debt to student loans. Thanks to my grandmother, when she passed away she left me enough to pay off any credit card ... Read More »

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