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Student Loan Related

Graduate Students Really Screwed in Congressional Student Loan Deal

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As part of the deal to keep student loan government subsidized interest rates at the current levels, rather than have them double in July 1, 2012, a deal was struck. But if you are a graduate student, the cost of your education just got a whole lot more expensive as a result. Congratulations. In the past, students pursuing graduate degrees ... Read More »

    Law School Grads Become Hopeless Economic Slaves to Their Student Loans and Poor Opportunities

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    Remember all those people that wanted to go to law school to make a ton of money, and help people as well. The way it looks now the trend in lawyers being able to find jobs is slipping. Paul Campos, a Professor of Law at the University of Colorado says that only one in three is able to find gainful ... Read More »

      Father Struggles to Pay Dead Son’s Student Loans

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      by Marian Wang, ProPublica, A few months after he buried his son, Francisco Reynoso began getting notices in the mail. Then the debt collectors came calling. “They would say, ‘We don’t care what happened with your son, you have to pay us,'” recalled Reynoso, a gardener from Palmdale, Calif. Reynoso’s son, Freddy, had been the pride of his family and ... Read More »

        Nonprofit Student Loan Debt Collector Makes About Half a Million

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        Bloomberg Businessweek is reporting that Educational Credit Management Corporation, an IRS educational charitable nonprofit group, paid Joshua Mandelman, a student loan debt collector for ECMC, nearly $500,000 in a single year. ECMC’s debt collectors earn bonuses as a reward for extracting money from defaulted borrowers. In 2010, the bonuses for top performers amounted to as much as 10 times their ... Read More »

          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 »

            Student Loans Getting Shuffled All Over. Leaves Many Confused.

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            by Marian Wang ProPublica The Department of Education has been transferring large batches of federal student loans to new loan-servicing companies — leaving in the lurch some borrowers who are suddenly encountering problems with their loans, such as payments that are mysteriously adjusted up or down. The switch, which has been going on for months and will ultimately include millions ... Read More »

              CFPB Rolls Out Beta Version of Cost of College Tool – Cool!

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              The Consumer Financial Protection bureau has just announced a beta version of a new tool they’ve been working on to help inform people about the costs of college in order to make better decisions. For a first pass it’s pretty cool. It allows you to enter up to three school names in the tool and then compare the average costs. ... 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 »

                  My College Won’t Release My Transcript Because They Claim I Owe Them Money. – Reshene

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                  My college won’t release my transcript or transfer my credits to a community college because they claim i owe them $950. This is untrue because I paid for semester that i did not get to attend because i was on sick leave and i was turned down for more student loans and couldn’t get a cosigner. So my school ask ... Read More »

                    Do Military Veterans on GI Bill Deserve to be Treated Fairly by For-Profit Colleges?

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                    Student loans are tough enough to deal with but it appears for-profit colleges are intentionally targeting military veterans eligible for the GI Bill. Students are winding up deep in debt at the more expensive for-profit college with no degree or a degree worth little. Some experts interviewed in the broadcast said that online degrees are viewed less favorably by hiring ... Read More »

                      Student Loan Public Service Loan Forgiveness – New Forms and Documentation Released

                      The Department of Education has released new forms and documentation to assist government backed student loan holders with getting their loans discharged through the Public Service Loan Forgiveness (PSLF) program. The new documents include updated information on eligible loans: Any non-defaulted loan made under the William D. Ford Federal Direct Loan Program (Direct Loan Program) is eligible for loan forgiveness. ... 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 »

                          Private Student Loan Help Needed. Pass the Fairness for Struggling Students Act.

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                          Rachel just sent in a question for me to answer about the hopelessness of private student loan debt. The tragedy of private student loan bondage is one that will sacrifice a generation of hardworking citizens under the hopelessness of private student loan debt if solutions are not made available. Unlike government backed student loans, private student loans offer no real ... 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 »

                              Student Loan Forgiveness or Discharge Can Create a Huge Tax Bill. Watch Out!

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                              If you are one of the lucky few who have qualified for a discharge or cancellation of your student loan debt, you may be shocked to learn the debt may not be over with just yet. A reader brought to my attention that the forgiveness of student loan debt, even under a disability discharge, can result in the issuance of ... Read More »

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