Better Future Forward Subject to CFPB Student Loan Attention But Gets Praise

The Consumer Financial Protection Bureau (CFPB) took action recently against an income share agreement (ISA) provider for mispresenting its product and failing to comply with federal consumer financial law that governs private student loans. Better Future Forward, Inc., through its affiliated companies, provides students with money to finance their higher education, in the form of … Read more

Education Halts Collections. Garnishment Continue Anyway.

In response to the COVID pandemic, the Department of Education allowed student-loan debtors to skip their monthly loan payments without penalty until September 30, 2021. That pause was recently extended to January 30, 2022. Thanks to the Department’s forbearance, millions of college-loan borrowers are enjoying a respite from making loan payments, knowing that DOE will … Read more

Attorney Takes Exception With Student Loan Lender Article

On August 4, 2021, SoFi published an article called “Is There a Statute of Limitations on Debt?” (https://www.sofi.com/learn/content/statute-of-limitations-on-debt/). Most would agree that the simple answer is yes because they assume the author is actually referring to lawsuits on debt, not the debt itself. For example, as correctly pointed out in the article, the expiration of … Read more

Dept of Ed Position in Student Loan Bankruptcy Case is Nukin Futs

Tamara Parvizi, age 51, sought to discharge $653,743 in student-loan debt in a Massachusetts bankruptcy court. That’s a lot of debt–just shy of two-thirds of a million dollars. For 15 years, Parvizi took out student loans to pursue several degrees, and she became fluent in at least four languages. Nevertheless, Parvizi never made a single … Read more

Senators Show Commonsense With Student Loan Bankruptcy Bill

Piggy Bank Hurt

Is this the year of Jubilee? Is this the year that distressed student-loan debtors finally get to shake off mountainous debt in the bankruptcy courts? Maybe. This week, Senator Richard Durbin, an Illinois Democrat, and Senator John Cornyn, a Texas Republican, filed a bill that would allow college-loan debtors to discharge their federal student loans … Read more

Important FAFSA Deadlines to Know

The Free Application for Federal Student Aid, or FAFSA®, is a form students can fill out each school year to apply for grants, work-study, or federal student loans from the government for higher education pursuits. By not filling it out, or missing the FAFSA deadline, students may not receive financial aid that could help them … Read more

Will You Lose Any Inheritance to Pay Student Loans – Maybe

Martha Standish took out student loans when she was in her late 40s to get an undergraduate degree in accounting. Later she took out a Parent Plus Loan to help her daughter with college expenses. Eleven years after graduating, Standish filed an adversary proceeding in a Kansas bankruptcy court seeking to discharge about $30,000 in … Read more

Where Do You Pay off Student Loans?

Looking for the right place to pay off loans? Unfortunately, there’s no blinking neon sign for borrowers to “Repay Loans Here.” Instead, borrowers may have to go old school, and make a phone call to meet their new best friend—the student loan servicer. It all starts with contacting the Federal Student Aid Information Center to … Read more

The Ivy League’s Biggest Scam: Expensive Graduate Degrees That Don’t Pay Off

If you are thinking about enrolling in a pricey Ivy League graduate program, read a recent Wall Street Journal article titled “Financially Hobbled for Life’: The Elite Master’s Degrees That Don’t Pay Off.” Reporters Melissa Korn and Andrea Fuller report on a WSJ analysis of student debt owed by people who graduated from prestigious schools … Read more

The Navy Student Loan Repayment Program is Awesome

The U.S. Navy offers service members a proud and venerable tradition, having patrolled the seas since its inception in 1775. Almost 250 years later, the Navy still offers its sailors a remarkable life experience, a chance to serve the country, and a host of benefits that make life somewhat easier for military personnel. One perk … Read more

“Don’t Just Retire. Retire Well” But Millions Drowning in Student-Loan Debt

Almost every day, I see a television ad for an investment firm that targets retirees. “Don’t just retire,” the tv spokesperson says. “Retire well.” Of course, everyone wants to retire well. For most of us, that means retiring with our debts paid and enough income to cover our bills and travel occasionally. But many Americans … Read more