The Consumer Financial Protection Bureau published information in the Federal Register today that shows how screwed up student loan programs are. The data and facts released are enough to make you give up hope the student loan programs can ever be fixed. Indeed not fixed with one-time forgiveness. I will do my best to summarize …
Years ago, I traveled through central Uganda in a Land Rover, accompanied by a native guide. We came around a curve in the road and surprised a large troop of baboons. All the baboons ran away. Large and small, the whole group fled into the woods. All but one. The largest baboon was reclining against …
In 2013 I wrote the post below about thinking about if college was the right choice. It is now 2022 and I was surprised to see this mainstream television piece now talking about the same issues. From May 15, 2013 I hear all the arguments about the value of a college education. And I agree …
Betsy DeVos, the Wicked Witch of the Midwest, was perhaps the most despised member of President Trump’s cabinet. As Trump’s Education Secretary, she coddled the for-profit college industry and (in my opinion) bungled the Public Service Loan Forgiveness (PSLF) program. Nevertheless, in a speech delivered in November 2018, DeVos revealed to the nation just how …
Question: Dear Steve, I am a current student and have one semester left after this current one. My current loans are 134k before that last semester has even started. I make monthly payments already. Is there anything I can do to get a head start on the loans or get some of it forgiven? Logan …
Question: Dear Steve, I have student loans from 40 years ago that has gone from 18k to over 70k. I also have 1 loan for my son’s freshman year of college, now about 18k. I paid some of mine years ago but then went through a time of multiple layoffs and low-paying jobs in the …
If your student loan payments seem overwhelming, you should know that you’re not alone. Americans are shouldering a growing student debt burden; In fact, US borrowers owe a combined $1.7 trillion in student loan debt, according to the Federal Reserve . For federal student loans, if a borrower fails to make payments on a loan …
Question: Dear Steve, I took out student loans 10+ years ago and have never made a payment on them. I’m unsure at this point which the loans were even with initially. I have not had a job since, so nothing had been taken from anything to repay at any point. I just signed up at …
Dear Steve Hi! I am a piano teacher, and due to the bad economy have very few students, even though I am used to having plenty. We just moved because we could no longer afford where we lived. We gave up our house in a deed in lieu of foreclosure. My husband took a cut …
Since I spend my day researching important consumer debt issues, I thought I’d share with you the material that I found most fascinating today: Student Loan Losses Seen Costing U.S. More Than $400 Billion “The U.S. government stands to lose more than $400 billion from the federal student loan program, an internal analysis shows, approaching …