The Trump administration confirmed it is actively exploring selling portions of the $1.7 trillion federal student loan portfolio to private companies. No final decision yet — but income-driven repayment, PSLF, and discharge protections could all be at risk.
The GAO confirmed the CFPB is being cut by roughly 88%, from 1,700 employees to 200, with 42 active enforcement cases dropped. The complaint portal is still open — but your state AG is now your primary line of defense.
Quick Answer: The 2020 presidential candidates proposed varied approaches to student debt reform, ranging from tuition-free college to mass loan forgiveness. With J.P. Morgan projecting private college costs could reach $500,000 by 2036 and 40% of borrowers potentially defaulting by 2023, student debt has become a critical campaign issue.Americans owing more student loans than ever before, …
Quick Answer: Congress held its final oversight hearings before the Consumer Financial Protection Bureau officially launched on July 21st, with Republicans aggressively questioning Elizabeth Warren about the agency’s power and oversight. The GOP attempted to portray the CFPB as overly powerful while Warren defended the bureau’s consumer protection mission.I don’t think there can be any …
UK regulator explains why debt settlement companies can’t escape FTC enforcement by setting up overseas. Plus CROA and consumer protection updates.
Quick Answer: Yes, upper middle class bankruptcy is legitimate, as bankruptcy rates are rising across higher income levels following the restrictive 2005 bankruptcy reform. Harvard Law professor Elizabeth Warren’s research confirms this trend, showing that financial distress is spreading up the economic chain despite reforms intended to reduce filings.For the past few years I’ve been …
Quick Answer: Personal finance experts generally recommend prioritizing debt repayment over savings since credit cards charge 16%+ while savings accounts pay 4% or less, making debt reduction a better financial return. However, religious tithing should be treated as an essential expense like food or medical care, though kept at sustainable levels during debt repayment.This weeks …
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