Financial Asset Management Systems is Garnishing My Wages for a Student Loan. – Mima

“Dear Steve, My issue with FAMS/SLM is that I cannot get them to send me any documentation of proof for the debt amount stated on the attached document. I do not deny the student loan I took for my son, but only the additional $8,000. What I find frustrating, is that when I took the … Read more

When Do You Start Saving for Your Child’s College Fund?

The following guest post was contributed by Elle from CoupleMoney If you would like to contribute a guest post, click here. Preparing for the Baby’s College Fund From time to time, I get feedback from Couple Money readers. It’s something that I enjoy and try to respond to. After my recent post on preparing the … Read more

Private Student Loans Disability Discharge – Erica

“Dear Steve, I became chronically ill about three years ago and my health declined rapidly. I almost ended up in a coma, and by the time I was finally diagnosed, it was discovered I have a metabolic disease that is progressive, incurable and there is no proven treatment. I have been unable to work for … Read more

My Brother is Mentally Ill and Has a Tremendous Amount of Student Loans. – Laura

“Dear Steve, I have and estranged brother for 30 years. He became suicidal and started sending me emails. As a result we got him home and he was such a mess we immediately took him to a psychiatric facility where was admitted for several weeks. He came home to live with me and I realized … Read more

Is College Worth It? The Value of College

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 … Read more

College Grads 2011, Bad News, You Are The Most Indebted Ever With Student Loans

Thanks to an awesome reader and tipster (send in your tips here) I was told about the recent Wall Street Journal article which shows the graduating class of 2011 is the most buried under student loan debt, ever. Even as the average U.S. household pares down its debts, the new degree-holders who represent the country’s … Read more

Disabled Former Cop in Student Loan Story Gets Her Debt Forgiven

by Sasha Chavkin, ProPublica The Department of Education has finally forgiven the student debt of disabled former police officer Tina Brooks–who we featured in our Feb. 13 story [1] about the government’s broken program for forgiving the federal student loans of borrowers who become seriously disabled. Brooks, who fractured her spine when she fell 15 … Read more

Another Day, Another Class Action Suit Against For Profile Colleges

A new batch of students, 39 to be exact, are filing a suit against Daymar Colleges Group. Allegedly they were mislead in enrollment and given “false claims about transferability of its credits, job placements, and the terms and availability of student loans.” They are apparently left lacking jobs and gaining debt. The students also claim … Read more

Disabled and Hoping the Department of Education Will Help With Your Student Loan. Read This.

By Sasha Chavkin, Cezary Podkul, Jeannette Neumann, and Ben Protess This article is a collaboration among ProPublica and the Center for Public Integrity, which are independent nonprofit investigative newsrooms; and the Stabile Center for Investigative Journalism, at Columbia University. It was co-published with the Chronicle of Higher Education. Tina Brooks can’t sit or stand for … Read more

I’m Looking for Information on the Obama Program to Cut My Debt in Half. – Chris

“Dear Steve, I’m trying to figure my way out of a situation and could really use some help – I am a senior in college and manage to just get by every month from two part time jobs and student financial aid from the government. My problem is that over the past five years I’ve … Read more

Want to Incur High Student Loans and Have Grim Job Prospects? Go to Law School.

The New York Times published “Is Law School a Losing Game?” and raised some excellent points that I’ve certainly observed from people visiting this site. In the NYT article, lawyers that have graduated with high student loan debt discuss the grim job prospects and reality of becoming a lawyer in the current economy. In reality, … Read more

Want to Pay a Lot for College But Never Graduate? Go to a For-Profit University.

In a recent report, Subprime Opportunity: The Unfulfilled Promise of For-Profit Colleges and Universities the University of Phoenix didn’t fare too well when it came to graduating students. According to the report, only 9% of student enrolled actually graduated within six years. University of Phoenix, DeVry University, The Art institute, Berkeley College, Sullivan University, Westwood … Read more