Student Loan Update

I collect links to student loan stories every day,

student loan update
question marks

then I look through the student loan update file

for the news across the nation

for topics to post on this blog.

The student loan stories just keep piling up.

Student Loan Update: Servicers

Nothing new here, another servicer concealing the best student loan repayment plans available.

Some restaurants have secret menus, special items that you can only get if you know to ask. New Jersey’s student loan program has secret options, too — borrowers may be able to get help from the agency, but only if they know to ask.

Another refrain of mine, the student loan servicers are like mortgage servicers, they make more money for themselves, and their actual client, the creditor, by, messing up.

Yes, giving you accurate information hurts their bottom line. So why are we surprised when they are disingenuous at best, deceitful at worst.

New Jersey has the largest state-based student loan program in the country, with particularly stringent terms that can lead to financial ruin, as ProPublica and the New York Times recently detailed. The agency overseeing the program says it has a policy to help some families if the children who were supposed to benefit from the loans die. 

But internal emails show that staffers at the Higher Education Student Assistance Authority, or HESAA, have been instructed not to tell families that they may qualify for help unless they explicitly ask.

Student Loan Update: Alternative Repayment Plans?

Each day, more of us learn that the current student loan system is unworkable.  It is a bubble waiting to burst.

Are there other ways?

Of course!

Flexible student loan payment plan.

How about this concept?

 

  • Flexible-payment systems work best when they are connected to educational programs that have strong, highly predictable payoffs for graduates. That’s especially true for masters’ programs that may turn a $60,000-a-year teacher in to a $120,000-a-year principal. But other examples aren’t hard to find. The key objective is to find a program where there’s plenty of economic gain can be divided between the newly minted principal and the education financiers in the background.
  • Read the whole story.
  • Contact me with your student loan questions.

 

Student Loan Servicers & Smorgasbord

Student loan news all over the place this week, including some new stuff on Student Loan Servicers. Yes, election year. What about that Libertarian candidate? Eliminate the Department of Education? That is one of Mr. Johnson’s proposals, though a few Republican candidates have tossed that one out before. He shares my views on student loans driving… Continue Reading

Student Loan Update

Like most of my Student Loan updates, more of the same. More student loan horror stories. More inadequate government responses. Why Not Just Forgive All Student Loans? It works for millennials. Hey, who does not want a free lunch, let alone free college? Not all student loan borrowers were created equal. Some of those with… Continue Reading

Student Loan Apocalypse

Great info on Student Loan Apocalypse on the mybudget360 website.   OK, they call it Student Debt Apocalypse. So I googled Student Loan Apocalypse, and, there are multiple entries going back two and three years. Student Loan Apocalypse:  Crying Wolf? I think not. From the mybudget360 site: Student debt apocalypse: Median wages up 1.6% over last 25… Continue Reading

Student Loans and Law School

Student loans have created a bubble of overpriced colleges. Tuition costs rose way over the inflation rate, and colleges spent that money:  hiring more administrators. The biggest bubble: law schools. I have filed personal bankruptcy for lawyers making $14 an hour.  As lawyers.  Doing temp work for law firms. Value of Law Degree? First, the… Continue Reading

Student Loan News Update

Blogging once a week on Discharge Student Loan is  insufficient to keep up with student loan news. So, a smorgasboard post this week. Student Loan Debt & Home Ownership Another story on how the burden of student loan debt delays home ownership. Duh. Delays?  Prevents. Seventy-one percent of non-homeowners with debts from student loans said… Continue Reading

Student Loan Discharge Update

Student Loan Discharge is an issue this election year.  So, we will get bills introduced about Student Loan Discharge. And another bill. And more bills.  Which have no chance of passing because this is late into an election year, when all our public servants do is work to keep their seat at the public trough.… Continue Reading