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DOE no longer giving full discharge for defrauded cases

The U.S. Department of Education is passing an act that will make it harder for students to sue for-profit colleges for claims of fraud or misleading practices. As of July 1, 2019, this act would evaluate the students’ need for compensation based on their salary compared to their peers, instead of receiving a full discharge…

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Four States Suing Navient, Government Agency In Bed With DOE

California is the fourth state to file a lawsuit against one of the government’s largest debt collecting agencies: Navient. California is the largest state to file a lawsuit against Navient, joining Pennsylvania, Washington, and Illinois. Navient is one of the eight largest debt collection services hired by the United States “to collect $1.4 trillion owed…

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Department of Education Not Allowing Loan Forgiveness

Four senators are taking a stand against Betsy DeVos and the dysfunctional Department of Education when it comes to student loan forgiveness. Federal loans make up $1,331.7 billion of all student loan debt as of this year .1 Democratic Senators Tim Kaine, Sheldon Whitehouse, Tammy Duckworth, and Maggie Hassan sent a letter to Secretary DeVos…

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Judges Considering Student Loan Bankruptcy

More bankruptcy judges are realizing that student loan debt decisions must be made in favor of the debtor. Student loan debt is the second highest consumer debt in America, but it is the hardest to reduce in court. The average student loan debt for a Bachelor’s degree is over $37,000 and does not include the debt adults accumulate…

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Do Medical Bills Correlate with Bankruptcy Filings?

Elizabeth Warren, along with David Himmelstein, Deborah Thorne and Steffie Woolhandler, continue to face controversy over their paper published in the journal Health Affairs in 2005 and updated in 2009. This paper, based on surveys and testimonies from 1,800 Americans, estimated that 62% of bankruptcy cases are caused by medical bills. Warren’s paper opened a…

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Wells Fargo in trouble?

Wells Fargo Bank has been faced with penalties due to ignoring student loan debt in debtor Ryan’s bankruptcy. Ryan filed for bankruptcy in 2007 and after his discharge; Wells Fargo commenced litigation and collection actively on the debt. In 2008, Ryan was making monthly payments of $150 on the loan that would be made for…

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Ivy League Debt free?

Brown University is a private Ivy league university in Providence, Rhode Island, that is known for its unique teaching, curriculum, and research.  This prestigious university is ranked #14 in national universities. Its tuition and fees is about $53,400 and about 43% of students are receiving financial aid.   Brown offers $112.5 million. With that said, Brown…

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Trump Tax Reform and Student loans

Within the United States, according to IRS records, there are forty-four million Americans with student loan debt. President Trump’s tax reform bill states that “special interest deductions” will be made in the areas of medical expenses, adoption and student loan interest rates. The Trump administrations alleged overall goal of the tax cut is to grow…

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Employees get financial help from Employers for their student loans?

According to Pew Research Center: Social and Demographic Trends, 53% of employers are likely to stay at their current job with SLP, 64% of employees are likely to recommend their company to a friend for employment opportunity, and 74% of employees report being happy at their place of employment with SLP(2016). Since this launch, many…

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Toys R Us – Bankruptcy on the horizon?

Over 50% of Americans shop online or at discount stores such as Wal-Mart. Could this be a reason why Toys ‘R’ Us is preparing for bankruptcy? Toys ‘R’ Us is $5 billion dollars in debt. They are currently working on a loan to fund its potential bankruptcy. This is assumed to come before the holiday…

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Secret Service…Broke?

Has the Secret Service Gone broke trying to protect Trump? Over 1000 agents have already exceeded the mandated cap for overtime. This was supposed to last them a year. A total of 42 people are being protected and 18 of them are members of his family. However, during Obama’s administration, there was only 31. This…

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Tuition Free New York City Colleges

Hillary Clinton and Governor Andrew Cuomo signed into effect a law that provides free tuition to public colleges and universities in New York State. The requirements and stipulations makes me question whether “free” college tuition has seen achieved or if it remains out of reach. Any progress towards this goal is appreciated, but upon reading…

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Student loan dischargeable debt

A simple internet search can discourage anyone from trying to file their student loan debt as dischargeable bankruptcy, but it is in fact a debt that can be resolved through bankruptcy law. Michelle Labayen has successfully discharged or reduced student loan debt for numerous clients. The debtor must prove that repaying their loans places an…

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President Trump and Student Loan Debt

As a hopeful optimist, I looked at President-elect Donald Trump’s proposal for student loan debt. His plan is to increase the rate of repayment from 10% as in Revised Pay As You Earn (REPAYE) to 12.5% so the student can be out of debt in fifteen years opposed to twenty. Several websites and students worry…

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Latest from Blog

DOE no longer giving full discharge for defrauded cases

The U.S. Department of Education is passing an act that will make it harder for students to sue for-profit colleges

Four States Suing Navient, Government Agency In Bed With DOE

California is the fourth state to file a lawsuit against one of the government’s largest debt collecting agencies: Navient. California

Department of Education Not Allowing Loan Forgiveness

Four senators are taking a stand against Betsy DeVos and the dysfunctional Department of Education when it comes to student