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A Peak Into 2022 Student Loan Data is Not Promising Given Pandemic Relief Tweaks

By Daniel Mangrum, Joelle Scally, and Crystal Wang Today, researchers from the Center for Microeconomic Data released the 2022 Student Loan Update, which contains statistics summarizing who holds student loans along with characteristics of these balances. To compute these statistics, we use the New York Fed Consumer Credit Panel (CCP), a nationally representative 5 percent … Read more

Biden Administration Flirts With Student-Loan Debtors: Throw Me A Moon Pie, Mister!

Biden Administration Flirts With Student-Loan Debtors: Throw Me A Moon Pie, Mister!

Mardis Gras parades are an ancient tradition in New Orleans, going back to the eighteenth century. Social clubs called krewes sponsor these parades, and krewe members throw trinkets called throws at parade-goers. Typically, a throw is a necklace of plastic beads, but krew members also throw toys, small stuffed animals, and plastic souvenir cups. Every year, Louisianians … Read more

Tuition Answer Loans and Potentially Other Private Student Loans Might Not Be Collectible by Navient

Navient has had a loss in a lawsuit regarding Tuition Answer Loans. United States Bankruptcy Judge Elizabeth Strong has issued a Temporary Restraining Order (TRO) saying “Navient is restrained and enjoined from taking any acts to collect on Tuition Answer Loans held by the Plaintiffs and the Putative Class Members, as the class is described … Read more

Department of Education Offers Proposed Hope for Student Loan Changes

The Department of Education announced a set of proposed changes to federal student loan programs. It is interesting to note what is missing here. The two biggest fixes that are needed are the restoration of the discharge of student loan debt in bankruptcy as a regular debt and a fix for the spousal consolidation loan … Read more

Kiss Your Ex-Spousal Consolidation Loan Goodbye

A glimmer of hope for all the good people trapped in those old horrid federal government Spousal Consolidation Loans for student loan debt. These loans have been a shame for many years. The Department of Education allowed spouses to put their individual loans together into one new loan but never provided people a way out. … Read more

People Want More Affordable Education Over Forgiven Debt

Guide to Getting Out of Debt Using Your Brain and Smart Ideas

National Public Radio (NPR) recently ran a poll to determine what Americans think about student-loan forgiveness. More than half the respondents favor President Biden’s plan to forgive $10,000 in student debt per borrower. Among people with outstanding student loans, 84 percent support Biden’s debt relief plan, and 68 percent want the Biden administration to forgive … Read more

Are You One of These Students That Will Have Their Federal Student Loans Forgiven And Get All Payments Back?

The Department of Education has agreed to settle a case that began under the Trump Department of Education on June 25, 2019. The settlement is just awaiting Court approval. In that case, the Department of Education was accused of unreasonably delaying and withholding decisions on Borrower Defense to Repayment claims submitted by federal student loan … Read more

It Will Surprise You Who is Not Happy With Biden’s Student Loan Forgiveness Plan

President Biden promised college borrowers $10,000 in student-loan forgiveness when he was on the campaign trail. He has yet to deliver on that promise. Some progressives urge Biden to forgive more student debt. The NAACP said, “$10,000 is not enough, We’re calling on our elected officials to cancel federal student loan debt with no means-testing.” … Read more

Parent Plus Loans Are a National Disgrace

Parent-Plus Loans Are a National Disgrace

President Biden is flirting with a massive student-loan forgiveness plan–$10,000 in debt relief for 97 percent of all college borrowers. The Washington Post, perhaps America’s most progressive newspaper, urges him not to pull the trigger. “Biden could ease the burden on the genuinely disadvantaged in a number of more targeted ways,” the WP editorial board … Read more

Why is the Department of Education Forgiving Loans But Chasing People in Bankruptcy?

Earlier this week, the Department of Education wiped away all student debt owed by more than a million former students who attended one of the Corinthian Colleges campuses. The cost? About $5.8 billion. Since his administration began, President Biden has approved $25 billion in loan forgiveness for 1.3 million student borrowers. That’s a lot of … Read more