Hate is a word I rarely use in my posts. I like to remain upbeat and inspirational. And then I read the latest report on Household Debt and Credit published by the Federal Reserve Bank of New York, which said that outstanding student loan debt in the U.S. reached $ 1.16 trillion as of December …
In a move that could help make it easier for federal student loan debtors to deal with their loans, President Obama has just announced a new Student Aid Bill of Rights. It appears the government might be making it easier for consumers to discharge federal student loans through bankruptcy. Take a look at Section 3(b) …
At some point in your decision to go to college or get an advanced degree, you may need to ask yourself an extremely important question: How much money do I need to borrow? The key word there is “need.” If you’re lucky (or plan extremely well), the answer is “none,” and you can enjoy getting an …
If you want to pursue a higher education, you have a lot of questions to answer: What degree do you want? Which school will you attend? How long will it take to finish? How much money do you need to borrow? That last question is complicated. Not everyone needs student loans to get a degree, …
Another calendar quarter has passed and the latest edition of the Federal Reserve Bank of New York’s Report on Household Debt and Credit is on the wire. As usual, there’s plenty of news to pick apart. Take, for example, the reported $ 117 billion increase in average household debt in the final three months of …
Last summer Steve Mason, a senior pastor at Oasis Church in Redlands, California, gained national attention after inheriting his deceased daughter’s student loan debt. Mr. Mason’s daughter Lisa died suddenly of liver failure shortly after graduating nursing school, leaving him liable for the $ 200,000 in student loans he had cosigned to finance her education. …
The Federal Reserve Bank of New York just published information that makes me concerned for the financial future of consumers who fall into the student loan trap. Despite what people feel or say, there are still affordable ways to get a college education without going $175,000 in debt for a graphic arts bachelors degree. The …
“Dear Steve, My friend somehow got her grants changed to loans when they made her reapply right before the school year started as they were installing a new system. She doesn’t know what happened as she was actually going thru a tremendous amount of turmoil due to robberies, harassment from juveniles (she was working at …
“Dear Steve, My younger brother has been diagnosed as a paranoid schizophrenic. He has fought bouts of depression, hallucinations, and paranoia for the last 5-6 years. He has been on numerous different powerful drugs to help him. He, thank god, has finally found one that helps him with some of his symptoms but no way …
Rohit Chopra is not only the Assistant Director for the Consumer Financial Protection Bureau but also the Student Loan Ombudsman there. As an example of how slow government can work at times is the slow pace of solutions for people facing private student loan debt. Currently options are limited and without any long term payment …
