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Student Debt

DeVos Could Charged with Contempt for Violating Court Order

Betsy DeVos could be facing jail time if not sanctions for violating an order from a federal judge who prohibited any further collection of student loan debt from Corinthian College students.  U.S. Magistrate Sallie Kim ordered the Department of Education to cease collection from these student borrowers since they fell under the protection of the…

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Where Student Loan Debt is Heading By 2021

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…

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Student loan debt becomes personal in Congress

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…

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More than meets the eye: New Yorker satire closer to truth

“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…

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What would happen if all student loan debt was eliminated?

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,…

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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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