The Department of Education has been pressuring ITT Technical over issues that impacted the schools ability to be eligible for federal student loans. In response, ITT has shut their doors to new students and left current students in a lurch. While ITT Technical says “Endless Possibilities” as of today, one of those possibilities is not … Read more
Currently, the Public Service Loan Forgiveness program allows public service and non-profit employees to have their loans 100% forgiven tax-free after making 120 qualifying payments. There is no partial forgiveness along the way. If a group of Democratic Representatives in Congress get their way, that will drastically change. The bill was co-sponsored by Rep. Meng, … Read more
Medtech College in the Washington, DC area has been denied recertification for eligibility to make or accept federal student loans. According to the Department of Education (ED), “ED took this step after finding that Medtech significantly overstated job placement rates reported to its institutional accreditor, to the public, and to ED. In addition, Medtech made … Read more
Question: Dear Steve, We have a Federal Consolidation PLUS loan for putting our two kids through college. Original total loan amount was $118,000. Unfortunately at the same time the payments were to begin, in 2008, my husband lost his job. It was the financial meltdown and he worked at Fannie Mae. Terrible times for several … Read more
Question: Dear Steve, I decided to enroll into the Massage Therapy Program at Everest University which I quickly discovered was not only a scam but very unprofessional. I attended 6 out of the 9 months it took to graduate because my teacher began to harass me when he discovered I was a lesbian, he harassed … Read more
Question: Dear Steve, About 12,000 debt in private school loans. Haven’t been able to make the payment for years. Have used all my forbearances and deferments possible and now am at the point where they are threatening to garnish my wages. Default status I guess has already been placed. I went bankrupt about 4 or … Read more
Question: Dear Steve, I have a private student loan from AES that was taken out in 2004 Original Balance: $22,099. Current Balance: $21,518. Total Interest + Principle paid to date: $21,216. (Total principle satisfied $8300, the rest is all interest), so how I still have nearly the same balance as I started with is baffling. … Read more
by Annie Waldman ProPublica, Aug. 9, 2016, 10:45 a.m. Almost a dozen people with harrowing experiences with New Jersey’s controversial student loan program testified on Monday before state lawmakers, detailing its aggressive collection tactics and onerous terms that some said had ruined them financially. “Hesaa destroyed my family,” Tracey Timony, referring to the state’s Higher … Read more
Question: Dear Steve, The Financial Aid dept. at Lincoln Collage of Technology, Indpls, In., at the time of meeting regarding a parent plus loan, would not take my husbands financial info as “he was not present at that meeting” , but only took mine (the mother), and I hardly made anything at my MLM business … Read more
Question: Dear Steve, I consolidated my undergraduate loans into an FFEL Consolidation loan, disbursed in October 2007, owned by Nelnet. After that, I graduated, worked three years at a nonprofit, only to discover the payments I made during those years weren’t eligible for PSLF because I was paying on an FFEL loan, not a direct … Read more