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Laws Changing For Student Loan Defaulters

The student loan debt crisis has already gripped the attention of courtrooms from bankruptcy court to state and federal court, but finally, it has gained traction among lawmakers on both sides of the aisle. In an unexpected allyship, Sen. Elizabeth Warren D-Mass and Sen. Marco Rubio R-Fla proposed a bill: “Protecting JOBs Act”. This bill…

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Default student loan rates rising to 40% by 2023

A startling new report by Urban Institute, a progressive think-tank in Washington, estimated that in 5 years, 40% of student loan borrowers would be in default. In other numbers, it’s estimated that 44 million americans have student loans, and so 17.6 million students would default.  It’s not just private loans that are unwieldy, but also…

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Judge Rules against DeVos for Corinthian College

In the case of the thousands of students defrauded by Corinthian College Inc., the Department of Education under DeVos tried to implement a new policy that would replace the Obama Administration’s “Borrower Defense to Repayment rule”. DeVos’s plan would prevent students from receiving a full discharge of the student loan debt they accumulated while receiving…

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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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Latest from Blog

Laws Changing For Student Loan Defaulters

The student loan debt crisis has already gripped the attention of courtrooms from bankruptcy court to state and federal court,

Default student loan rates rising to 40% by 2023

A startling new report by Urban Institute, a progressive think-tank in Washington, estimated that in 5 years, 40% of student

Judge Rules against DeVos for Corinthian College

In the case of the thousands of students defrauded by Corinthian College Inc., the Department of Education under DeVos tried