Student Debt

Many people rejoiced when the Biden Administration offered even a little bit of student loan relief, promising to forgive up to $20,000 for public borrowers. Unfortunately the program has run into problem after problem, and has hit yet another road block.  Student loan forgiveness approval letters are going out, but that doesn’t mean the loans…

Millions of borrowers rejoiced when the Biden Administration announced its plan to forgive up to $20,000 in federal student loan debt.  So, imagine the disappointment when 700,000 to 800,000 lost that relief in a “quiet rule change.” Borrowers whose loans are FFEL loans are no longer eligible for debt relief. The White House claims it…

On November 17th Joe Biden, addressed some of the campaign promises  he’s made pertaining to student loan debt. Although he isn’t inaugurated yet, he has promised to forgive up to $10,000 of private, non federal student loan debt for each borrower. However, the average student loan debt is estimated to be about $47,000. President-elect Biden…

Student loan debt is the largest financial crisis facing young Americans today, and has reached the highest its ever been in all of history. It’s causes can be traced back to several sources, the foremost being 1) increasing tuition rates with little to no increase in wages, and 2) predatory practices by private and federal…

Congressmen are just like us; they have student loan debt too! For the lawmakers that could provide student loan debt relief, many of them still have enormous amounts of debt themselves that they are required to make payments on.  The media buzzed over Congresswoman Ocasio-Cortez making a student loan payment during a committee meeting over…

“Pay Off Your Student Debt in Three Easy Lifetimes” advertises a recent satirical piece by Colin Nissan in The New Yorker’s recent August issue that follows a Q&A interview between an outraged interviewer and a calm expert on this new software program for student loan debt. The conversation winds around this bizarre solution to debt…

What would happen to the American college system if Bernie Sander’s plan of “free college” and “eliminate all student loan debt” came to life?  The United States education system is often compared to the system of our European Allies like Germany and Finland who have free education system. Critics asked “If America is so great,…

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…

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…

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…