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Tag Archives: student-loans

Student Loans Today are Akin to Debt Slavery. It’s Real and a Life Killer.

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I grew up in an era where we were taught to go to college and get a degree. You would better your life I was told. That was the 1970s. At that time the majority of my peers were headed off to college and the majority would graduate without student loan debt. They had a degree and new hope for ... Read More »

One of Every Four Student Loans is in Default. National Economic Crisis Boiling.

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For many, many years now I’ve been the chicken little saying the sky is falling when it comes to student loan debt. Ever since the bankruptcy code was changed to prohibit the discharge of student loan debt, both government and private student loans, a national crisis has been building pressure. Student loans are looked at as “good debt” and people ... Read More »

Bankruptcy Attorneys Report Major Problems Brewing for Holders of Student Loan Debt

The National Association of Consumer Bankruptcy Attorneys conducted a survey of its members. Of the 860 bankruptcy attorneys that participated in the survey, 81 percent said potential clients with student loan debt have increased “significantly” or “somewhat” in the last three-four years. Nearly two out of five of bankruptcy attorneys (39 percent) have seen potential student loan client cases jump ... Read More »

CFPB Gets an Earful of Good Suggestions About Student Loan Disclosures

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Recently the Consumer Financial Protection Bureau (CFPB) requested feedback from consumers about student loan issues. Advanced results and feedback on the survey are now available. The focus of the CFPB effort is to make information more available to students and potential students so they can make the best and most informed decision possible before falling on the sword for student ... Read More »

Interest Rates on Federal Student Loans to Double

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Photo Credit: Bark Interest rates on federal student loans will double unless Congress takes action by this summer to keep the low rates in place. Currently federal student loans pay 3.4% interest but that rate is set to expire this summer. So unless Congress takes action to keep the rates low they will revert back to the old rate of ... Read More »

Student Loans: Necessary for a College Degree?

Student Loans-Rising Costs of College Tuition the Culprit? How much does college tuition cost? Without considering the cost of room and board, here are some average tuition costs. Public four-year colleges charge, on average, $7,020 per year in tuition and fees for students who live in their state. The average surcharge for full-time out-of-state students at these institutions is $11,528. ... Read More »

My wife says she paid off her student loans but the collector wants 4x the amount. – John

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My wife has some outstanding student loan debt…although she has told me that she has paid back the majority of it, or even all of it (thru the IRS taking her refunds away to pay this debt in the past). She was recently contacted by a lender who now says the amount she owes is almost 4 times the original ... Read More »

I’m a Retired Disabled Veteran And Student Loan Collectors Are Coming After Me. – Francis

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“Dear Steve, I am 67 years old and disabiled. I went back to college and graduated 1991. Because of various problems and surgeries, I was put on permanent disability, and was unable to pay back student loan. After a LOT of correspondense back and forth between the collection agencies and the Veteran’s Administration, I was told the loan was discharged ... Read More »

I Cosigned for My Son’s Student Loans and I Can’t Afford Them. – Christy

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“Dear Steve, My son has his BA and we have paid off all the student loans for that degree. He went to graduate school for Architecture. He needed money so he took out student loans. The building industry “tanked” and he is working independently but is making next to nothing. The bank is taking his house and he is working ... Read More »

I Just Found Out I’m Pregnant, We Are Living in My Parent’s Home Which is in Foreclosure. – Kelli

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“Dear Steve, I am 25 years old and have been married for six months. I have a substantial amount of debt from my student loans (almost 100k), a credit card with approximately $750, several medical bills that equal around $200, and a debt for $800 that is going to court. My husband and I live on about $2000 a month. ... Read More »

Fiance’s Student Loans and Child Support Obligation

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The following guest post was contributed by Mary Reed, coauthor of Debt Collection Answers: How to Use Debt Collection Laws to Protect Your Rights. She answers questions about how debt collection laws can protect you against abusive debt collectors. If you would like to contribute a guest post, click here. Q: When I marry my fiance will I be responsible ... Read More »

I Went to College 21 Years Ago and Still Struggling With Student Loans. – Cheryl

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“Dear Steve, I was divorced in 1990 and went back to school to earn a degree. Graduated summa cum laude in 1995 with a degree in English. Toiled away in low-paying jobs to support my children. Got forbearance on loans, but interest accrued. Went to grad school to try to better my situation, but family responsibilities forced me to withdraw ... Read More »

Went to College and Can’t Get Ahead Financially. – Rjaj

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“Dear Steve, I went back to college made school loans and I am in debt more than when I started. Need help in my financial part of life. How do I go from living from paycheck to paycheck and start getting ahead. I dont know how people save money and invest and all that. I am at a complete loss. ... Read More »

My Father Was Supposed to Pay My Student Loans. He Didn’t. – Cecilia

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“Dear Steve, I have a 3.000 student loan that was supposed to have been paid by my father 15 years ago. He did not. Now I recieved a letter from an address the collector found from my Discover Credit card (my brothes house in Florida) saying that I have to pay over 10,000 on late fees, etc. I have not ... Read More »

Is College Worth It? The Value of College

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Georgetown University released a study that looked at how much a college education is really worth. Researchers examined different bachelor’s degrees, their median earnings and then broke down their findings to study differences in varying demographics. They state that “which degree you have matters – but so does your major.” It has been shown that different majors yield different ranges ... Read More »

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