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Students

Student Loan Forgiveness Failing

NPR reports Teacher Loan Forgiveness Program still not working. We encourage you to review the article and contact us to find out how this might affect you.

How Income Share Agreements Are Better than Government College Loans

It’s too bad that Uncle Sam ever got into the college-financing business. The feds have no constitutional authority to lend money to students (or anyone else) and millions of students have gotten themselves deeply in debt for education of dubious value. Easy federal loans were essential in fueling the “college for everyone” movement that has raised the cost and degraded the educational value of earning a degree.

Students Defrauded byFor-Profit School Sue US Department of Education

Tina Carr and Yvette Colon had the same goal. They wanted to build careers in the medical field, make a good living and enjoy a better quality of life. They both knew that the gateway to a brighter future would be to attend a good school that had a track record of placing its students in meaningful jobs after graduation and would give them the opportunity to pursue further education down the road. Sanford-Brown Institute convinced them they had found their dream school, but instead plunged them into a nightmare that isn’t over yet.

Heavy Student Loan Debt Forces Many Millennials To Delay Buying Homes

Student loan debt in the United States has more than doubled over the past decade to about $1.5 trillion, and the Federal Reserve now estimates that it is cutting into millennials' ability to buy homes.

Homeownership rates for people ages 24 to 32 dropped nearly 9 percentage points between 2005 and 2014 — effectively driving down homeownership rates overall. In January, the Fed estimated 20 percent of that decline is attributable to student loan debt.

Struggling with student loans? Virginia has a new way to help

WASHINGTON — Virginians struggling with student loan debt have a new place to turn for help.

Scott Kemp is the state’s first student loan advocate.

He works within the Office of the Qualified Education Loan Ombudsman, which was established by The State Council of Higher Education for Virginia (SCHEV) at the direction of a law passed last year in the General Assembly.

Kemp’s primary focus is to assist borrowers.

When Unpaid Student Loan Bills Mean You Can No Longer Work

Fall behind on your student loan payments, lose your job.

Few people realize that the loans they take out to pay for their education could eventually derail their careers. But in 19 states, government agencies can seize state-issued professional licenses from residents who default on their educational debts. Another state, South Dakota, suspends driver’s licenses, making it nearly impossible for people to get to work.

States Review Laws Revoking Licenses For Student Loan Defaults

In 22 states, people who default on their student loans can have professional licenses suspended or revoked. The percentage of Americans who default on student loans has more than doubled since 2003.

Butch Dill/AP

Clementine Lindley says she had a great college experience, but if she had it to do over again, she probably wouldn't pick an expensive private school.

"I could actually buy a small home in Helena, Mont., with the amount of debt that I graduated with," she says.

U.S. Student Debt in ‘Serious Delinquency’ Tops $166 Billion

Student-loan delinquencies surged last year, hitting consecutive records of $166.3 billion in the third quarter and $166.4 billion in the fourth.

Bloomberg calculated the dollar amounts from the Federal Reserve Bank of New York’s quarterly household-debt report, which includes only the total owed and the percentage delinquent at least 90 days or in default.

That percentage has remained around 11 percent since mid-2012, but the total increased to a record $1.46 trillion by December 2018, and unpaid student debt also rose to the highest ever.

How To Ace Public Service Loan Forgiveness

If you qualify for student loan forgiveness, then you potentially can save thousands of dollars on your student loans.

If you work in public service, in particular, then Public Service Loan Forgiveness is a must-know program for your financial life.

However, the requirements can be confusing.

So, let's simplify it for you. Here is a go-to guide on how to qualify and apply for Public Service Loan Forgiveness:

What Is Public Service Loan Forgiveness?

No Income? No Problem! How the Gov't Is Saddling Parents with College Loans They Can't Afford

More than a decade after Aurora Almendral first set foot on her dream college campus, she and her mother still shoulder the cost of that choice.

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“This would be a much better world if more married couples were as deeply in love as they are in debt.”
– Earl Wilson
“What I would like to do... once I take care of all my kids' student loans, is buy a red 1965 Mustang and fully restore it.”
– Mike Quigley
"If we don't change direction soon, we'll end up where we're going."
– Irwin "Professor" Corey
The road to success is always under construction
– Lily Tomlin
"Nothing in life is to be feared. It is only to be understood."
– Marie Curie
"There is scarcely anything that drags a person down like debt."
– P. T. Barnum
"Bankruptcy laws allow companies to smoothly reorganize, but not college graduates burdened by student loans."
– Robert Reich