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Student Loan Related

Do I Have a Good Case for Eliminating My Private Student Loan Debt?

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Question: Dear Steve, I am interested in pursuing bankruptcy for my private student loans. While this is usually a futile battle, documentation from the research I have done will make my claim valid. I have $41000 in debt to ACS, and I have $111000 in debt to Navient (Sallie Mae). Only about $30,000 of that money ($152,000) was actually used ... Read More »

    Before You Enrolled in College Did They Tell You Your Degree Sucks?

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    In my ongoing thread over the concern colleges and universities have been enrolling students and not giving them the window sticker of what was really to be expected (see this, this, and this) comes this interesting information out today. While some students were induced to enroll in college and go deep into debt, there is growing concern that the messages ... Read More »

      FTC Makes Case Students Deceived in College Enrollment

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      I’ve been rattling on about a trend I’m seeing in college enrollment deception and the ability for people to file a claim to discharge, in full, their federal student loans. See this article. I’ve advised haste to get claims in and what to do before the door closes on this current process. See this article. The basic issue is students ... Read More »

        Lawsuit Against College is a Bombshell of Deception

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        Both for-profit and non-profit colleges and universities are going to come under much more scrutiny very quickly as more people awaken to the reality they were lied to and deceived by schools to get them to go deep in debt. Want to know more, see Millions of Federal Student Loans Lining Up to Be Eliminated and Borrowers Repaid. I’ve been ... Read More »

          Door Prepares to Slam for Student Loan Forgiveness Due to Fraud

          And this picture is in honor of your husband.

          Back in October of 2014 I wrote a story titled Millions of Federal Student Loans Lining Up to Be Eliminated and Borrowers Repaid. At the time I wrote that article some people said I was crazy. After all, how could people actually have their federal student loans forgiven because they were defrauded. Well the simple answer is because it is ... Read More »

            Why Defaulting on Private Student Loans is Not as Crazy or Irresponsible as it Sounds

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            Not long ago I answered a reader question and suggested they consider stopping payment on their cosigned private student loan in the face of no other better solution. You can see that reader Q&A here. In response to that post I received some feedback which is not unusual from people who don’t understand the complexity of the student loan crisis ... Read More »

              Student Loan Consolidator No Longer Considers FICO

              Moving up and the power of success with a growing tree in the shape of wings that has emerged out and has taken flight upward to opportunity as a business concept of the evolution of successful leadership and strategic planning.

              following a successful pilot program that began in the fall of 2015, leading online lender SoFi announced that it no longer factors FICO scores into its loan qualification process. Instead, the company considers three criteria — employment history, track record of meeting financial obligations and monthly cash flow minus expenses — to determine if an applicant is qualified for its ... Read More »

                Working as a Barista After College Is Not as Common as You Might Think

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                By Jaison R. Abel and Richard Deitz The image of a newly minted college graduate working behind the counter of a hip coffee shop has become a hallmark of the plight of recent college graduates following the Great Recession. Recurring news stories about young college graduates stuck in low-skilled jobs make it easy to see why many college students may ... Read More »

                  New York Opens Program to Pay Student Loans, Sort Of

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                  The State of New York has opened up a new student loan assistance program, “Get On Your Feet,” which I’m absolutely positive was created in an effort to help some people who are struggling with student loan payments. But as I sit here studying the initiative I’m left with a furrowed brow. I can see some getting the benefit of ... Read More »

                    Another Consumer Wins in Bankruptcy Court and Discharges Student Loans

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                    An attorney reader sent me a case about another consumer who successfully had their federal student loans discharged in bankruptcy. This is a rapidly evolving topic and certainly not ever court district offer up the same considerations when it comes to a discharge. But there are still a number of people who say discharging your student loans in bankruptcy is ... Read More »

                      Bankruptcy Court Tells Dept of Ed to Go Shove IBR as Unrealalistic

                      Check This Out_pri

                      On Jun 24, 2015, Michael Abney became a student loan hero when he filed his own adversary proceeding with the United States Bankruptcy Court of the Western District of Missouri. When I say he became a hero it’s because his case is just another step forward in providing some semblance of hope and logic for people impossibly buried under a ... Read More »

                        Private Student Loan Lenders Silently Slash Debt But You Don’t Know It

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                        Dealing with student loans can be a frightening process. Not only is student loan debt exploding but there is a significant amount of concern that many students were misled and lied to by schools willing to sell butts into seats with nearly almost any misrepresentation. This concern has been especially true at many for-profit schools funded by both federal and ... Read More »

                          School Accreditation Group in Tussle With CFPB

                          sworn testimony

                          The Consumer Financial Protection Bureau (CFPB) recently escalated a quiet action wit the Accrediting Council for Independent Colleges and Schools (ACICS). The issue raises some interesting questions about what role a school accreditation agency might play in the problem of easy access to student loan debt. Here is what public records say, “On August 25, 2015, the Consumer Financial Protection ... Read More »

                            Will Mark Tetzlaff Be Our Student Loan Hero?

                            Businessman trying to solve a maze questions

                            Mark Tetzlaff is a law school student who might not have achieved his dream of being a licensed attorney but the guy surely deserves some props for championing the cause through the courts of being impossibly in debt with student loans and seeking a legal remedy. My last story on Tetzlaff, here, talked about how his request failed to have ... Read More »

                              University of Phoenix Shot Down by Department of Defense

                              The Department of Defense is telling the University of Phoenix they suck and get the hell off our bases. According to the Wall Street Journal the University of Phoenix will no longer be eligible for DoD tuition assistance as well. “Sen. Durbin said that he will be calling on the Department of Education and the Department of Veterans Affairs to ... Read More »

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