Posts by Jordan Laguna
Obama Student Loan Forgiveness Program
In this season of giving, students should extend a thank you to government student loan forgiveness programs such as the Obama Student Loan Forgiveness Program. Originally called the William D. Ford Direct Loan Program, it has since been nicknamed due to Obama’s changes. Some of the changes Obama has made include total debt forgiveness for…
Read MoreCollege For All Act
Senator and presidential candidate Bernie Sanders aims to make an overall more educated workforce in America with his College for All Act. Without his plan, Sanders believes America will only continue to fall further behind the world economy. Sanders’ solution to the U.S. falling behind is by making all public colleges and universities free of…
Read More50 Cent and Bankruptcy
Award winning American rapper, singer, entrepreneur, investor and actor Curtis James Jackson III A.K.A. 50 Cent filed for chapter 11 bankruptcy. 50 Cent noted that he filed for bankruptcy as a means of reorganizing his finances. Chapter 11 is a repayment and restructuring of debt. If a person meets the income requirement to file for chapter…
Read MoreDifference Between Federal and Private Student Loans
The idea that “student loans are just student loans” is the very idea that gets students into lasting debt. There are major differences between federal and private loans that include leniency to debt repayment, loan forgiveness, interest rates, and consequences for default on payments. Federal student loans can be better for students because it does…
Read MoreRecording Debt Collector Phone Calls
Debt collectors may violate the FDCPA by either harassing or threatening creditors. Before contacting an attorney to help, steps to take to defend against violations and build a case against the abusive debt collector are: first, record the phone calls. The safest and most advantageous way to record the collector’s phone calls is by making note…
Read MoreThe Fair Debt Collection Practices Act
The Fair Debt Collection Practices Act (FDCPA) is a code of conduct for debt collectors. The FDCPA protects consumers in debt from harassment by debt collectors but debt collectors still violate people’s rights and still harass their targets. People need to know their rights against debt collection to feel their…
Read MoreNational Collegiate Student Loan Trust
Private student loans, nonfederal loans made by a lender such as a bank, credit union, state agency, or a school, go through the National Collegiate Student Loan Trust (NCSLT) to become investment vehicles. The way the process works is: first a student takes out a private loan from a well-known bank such as Chase or American Express,…
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