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Keyword: studentloans

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  • App for paying off student loans

    10/13/2017 12:16:30 PM PDT · by Jerrybob · 4 replies
    self ^ | 10-13-17 | self
    Sounds like a good idea.
  • U.S. cracks down on debt collection of private student loans

    09/18/2017 12:25:28 PM PDT · by sparklite2 · 18 replies
    Reuters ^ | 9/18/2017 | Staff
    WASHINGTON (Reuters) - The U.S. Consumer Financial Protection Bureau said on Monday it had ordered National Collegiate Student Loan Trusts and their debt collector, Transworld Systems, Inc to pay at least $21.6 million in penalties and restitution for illegally filing debt collection lawsuits. According to the agency, the companies allegedly sued borrowers without being able to prove the debt was owed or pursued collection on loans that were too old to sue over, and relied on false and misleading legal documents. The CFPB said the trusts had filed at least 486 lawsuits on debt where the statute of limitations for...
  • $78,000 of Debt for a Harvard Theater Degree

    08/08/2017 9:50:37 AM PDT · by Theoria · 97 replies
    The New York Times ^ | 07 Aug 2017 | SOPHIE HAIGNEY
    Twelve years after finishing Harvard’s graduate theater program, Katierose Donohue still pays almost as much in student loans each month — about $650 — as for her share of the rent in Los Angeles. She recently stopped hosting her monthly sketch comedy show, “Ma’am,” because she didn’t always break even on her $200 budget. She’s now working side jobs as a dog walker and a social media copywriter, after past gigs serving at Starbucks and handing out free cigarettes for Camel. She’s never missed a loan payment, but there’s no end in sight: She borrowed nearly $75,000 to attend the...
  • $5 billion in student loans may be dismissed because the lender lost the paperwork

    07/18/2017 10:23:07 AM PDT · by bgill · 39 replies
    Business Insider ^ | July 18, 2017 | Tanza Loudenback
    Billions of dollars in student loans may be wiped out for tens of thousands of borrowers in the US because a lender didn't keep track of the paperwork verifying ownership of the loans, according to The New York Times. The National Collegiate Student Loan Trusts, which holds 800,000 private loans and is one of the country's largest owners of private student loans, is at the center of the legal dispute, the Times reported. Borrowers are failing to repay more than $5 billion of the $12 billion in private student loans held by National Collegiate, sending the loans into default. The...
  • Trump’s silence on student loan crisis is deafening

    06/26/2017 8:16:08 PM PDT · by GuavaCheesePuff · 106 replies
    The Hill ^ | March 1, 2017 | Alan Collinge
    The nation owes about $1.5 trillion in student loans today. Nearly $1 trillion of this was added during the last president’s term. Student loan debt has skyrocketed past credit card debt, and all other revolving consumer debt combined. By the end of next year, the country will pass the $2 trillion mark. This debt is strapped to 44 million people in the country, who carry an average debt of $34,000. Interest alone on this amount is about $90 billion per year. In President Trump’s joint session address last night, however, he said absolutely nothing about the student loan problem.
  • Fannie Mae Introduces Innovative Solutions for Borrowers with Student Loan Debt

    04/27/2017 8:33:12 PM PDT · by Lorianne · 13 replies
    Fannie Mae ^ | 25 April 2017 | Aleksandrs Rozens
    Fannie Mae (FNMA/OTC) announced new policies that will help more borrowers with student debt qualify for a home loan. These innovations address challenges and obstacles to homeownership due to a significant increase in student loan debt over the past decade and provide access to credit for qualified borrowers. The new solutions give homeowners the opportunity to pay down student debt with a mortgage refinance, allow borrowers to exclude non-mortgage debt paid by others as part of the loan application process, and make it more likely for borrowers with student debt to qualify for a mortgage loan by allowing lenders to...
  • Waitress Struggling with Expenses Receives $400 Tip from Strangers - Then It Got Even Better!

    04/14/2017 1:48:58 PM PDT · by ReformedMedia · 41 replies
    The Washington Standard ^ | 04-14-2017 | Tim Brown
    A 21-year-old waitress in Hawaii worked two jobs to make ends meet and pay off her school loans so she could return to school.  She was pleasantly surprised when she received a $400 tip from complete strangers.  However, that was only the beginning.  There was an even bigger surprise waiting for her. Cayla Chandara moved from Santa Rosa, California to Waikiki, Hawaii to continue her education.  She also worked two jobs as a waitress.  Cheesecake Factory and Noi Thai Cuisine became her places of employment. Chandara didn't want to accumulate any more debt from student loans than she already had acquired, so...
  • Weekly Update: New Clinton Email Lawsuit

    03/25/2017 11:11:43 AM PDT · by jazusamo · 19 replies
    Judicial Watch ^ | March 24, 2017 | Tom Fitton
    JW Goes to Court for Accountability over Hillary Clinton’s Mishandling of Classified Emails JW Sues Over Obama Student Loan Scandal Special Presentation: Government Oversight Challenges’ JW Goes to Court for Accountability over Hillary Clinton’s Mishandling of Classified Emails Lawlessness was the modus operandi of the Obama administration. If it felt a law stood in the way of its intentions, it ignored the law. Seems the Obama intelligence agencies learned this lesson well. In the critical matter of Hillary Clinton’s illegal email practices, the Director of National Intelligence simply ignored a directive requiring a damage assessment and a report. So...
  • The Federal Government's Student-Loan Fraud

    03/20/2017 5:31:11 AM PDT · by IBD editorial writer · 18 replies
    Investor's Business Daily ^ | 4/17/2017 | Staff
    Education: President Obama had a great idea back in 2010: nationalize the student loan program, and its problems would soon go away. It didn't happen. Instead, more people are refusing to pay their student loans than ever before. In a study released last week, the Consumer Federation of America found that millions of people were in arrears on $137 billion in federal student loans in the first nine months of 2016, an increase of 14% from 2015. All told, the federal government's portfolio of student loans now stands at a whopping $1.3 trillion. As the Washington Post notes, "What's striking...
  • Trump Administration Rolls Back Obama Protections On Student Loans

    03/19/2017 5:41:12 AM PDT · by bobsunshine · 103 replies
    ZeroHedge ^ | March 18, 2017 | Tyler Durden
    Just days after reports emerged that student loan defaults are soaring, which is undoubtedly due to some combination of, among other things, poor job prospects for the millions of snowflakes who graduate each year with their $200,000 educations in anthropology and the moral hazard created by liberal politicians constantly calling for student debts to be 'forgiven' (a.k.a. forcefully jammed down the throats of taxpayers), the Trump administration has revoked rules put in place by Obama that barred student debt collectors from charging penalty fees on past-due loans. Originating from the Department of Justice, the "Dear Colleague" letter (full letter included...
  • You Might Not Be Granted The Courtesy Of A Hood Over Your Head

    03/15/2017 9:59:12 AM PDT · by Sean_Anthony · 8 replies
    Canada Free Press ^ | 03/15/17 | Bob Christie
    We are stuck with the probability that the bank, masquerading as an agency for student learning, will collapse under the weight of unpaid debts Americans should brace themselves for the coming failure of one of the biggest banks in the country that does not have the word “bank” in its title. And no impressive polished brass safe in the lobby either. Why should Americans care about this bank? Because they own it! And its receivables exceed $1 trillion! How much of those “assets” are actually collectible is a valid question.
  • Get Your Nappies Here Kids!

    03/10/2017 7:21:50 AM PST · by NOBO2012 · 8 replies
    Michelle Obama's Mirror ^ | 3-10-17 | MOTUS
    Two years ago James Madison University (Virginia) pioneered the Nap Nook: JMU has created the first ever “designated student napping center in a university setting.” Perhaps this is a backlash against the move 15 years ago to eliminate their nap time in kindergarten. You know: like daylight savings time - cut the blanket off on one end and sew it on the other.And now I see that Southern Illinois University is hosting “nap-ins” to “help students dream of diversity.” Didn’t we already do that? And aren’t we diverse enough yet?Anyway, I’m beginning to suspect that college stew-dents are napping when...
  • 31% Of College Students Spend Their Loans On Spring Break

    03/09/2017 5:00:19 PM PST · by Zakeet · 13 replies
    ZeroHedge ^ | March 9, 2017
    As Washington D.C. liberals continue their fight for 'free' college education for all (which, of course, is just a nicer way of saying largely useless community college education crammed down the throats of taxpayers) and student loan forgiveness programs, a new study from LendEDU reveals some of the shocking realities behind where college students are really spending their $1.3 trillion worth of student debt. Per a survey of 500 college co-eds, LendEDU found that 31% of students, or roughly 2.4 million kids, admitted to using student loan money to fund their binge drinking trips to Cancun and Daytona Beach for...
  • Poll: Half of College Students Believe Their Student Loans Will Be Forgiven

    02/27/2017 5:02:01 AM PST · by davikkm · 42 replies
    breitbart ^ | KATHERINE RODRIGUEZ
    Half of college students believe their student loans will be forgiven after graduation, according to a recent poll. LendEDU, “a private firm that connects students and their families with student loans and loan refinancing,” conducted a survey that found 49.8 percent of students believe the government would forgive their student loans after graduation, the New York Post reported. Despite what these students believe, there are actually a limited number of instances where the government can forgive student loans.
  • America’s Problem with Student Loans Is Much Bigger Than Anybody Realized

    02/03/2017 5:11:14 PM PST · by Lorianne · 43 replies
    Anti Media ^ | 01 February 2017 | Shaun Bradley
    The Department of Education recently released a memo admitting that repayment rates on student loans have been grossly exaggerated. Data from 99.8% of schools across the country has been manipulated to cover up growing problems with the $1.3 trillion in outstanding student loans. New calculations show that more than half of all borrowers from 1,000 different institutions have defaulted on or not paid back a single dollar of their loans over the last seven years. This comes in stark contrast to previous claims and should call into question any statistics provided by government agencies. The American people haven’t fully grasped...
  • US Government Caught Massively Fabricating Student Loan Default Data

    01/19/2017 10:11:47 AM PST · by SeekAndFind · 56 replies
    Zero Hedge ^ | 01/19/2017
    Ever since 2012 we have warned that one of the biggest threats arising from the US student loan bubble - which is no longer disputed by anyone except perhaps members of the outgoing administration - is not that it is soaring at an unprecedented pace, that's obvious for anyone with the latest loan total number over $1.4 trillion, rising at a pace of nearly $100 billion per year, but that the government - either on purpose or due to honest miscalculation - was not correctly accounting for the true extent of delinquencies and defaults. Today, we finally got confirmation...
  • Student debt now affects a staggering number of elderly Americans

    01/17/2017 8:37:01 PM PST · by SeekAndFind · 61 replies
    Washington Post ^ | 01/17/2017 | By Abha Bhattarai
    The number of older Americans taking on student debt on behalf of their children and grandchildren has quadrupled in the past decade, with consumers over 60 now holding $66.7 billion in student loan debt, according to a new report by the Consumer Financial Protection Bureau. The skyrocketing cost of college has placed a particular burden on older Americans, many of whom are struggling to pay back growing debts in their retirement years, according to the report. Nearly 40 percent of federal student loan borrowers over age 65 are in default, the highest rate for any age group, the data show....
  • We Have Too Many Law Schools, But This Isn't The Way To Thin The Herd

    01/13/2017 6:21:52 AM PST · by reaganaut1 · 39 replies
    Forbes ^ | January 13, 2017 | George Leef
    On December 19, the U.S. Department of Education announced that as of the end of the year, it would no longer allow students to use federal aid money at the Charlotte School of Law (CSL). The reason for this unprecedented move was the decision by the American Bar Association in November to place CSL on probation because of the low passage rate among its students on the most recent administration of the North Carolina bar exam. ... Instead of an administrative decree that one (or even dozens) of the schools with low bar passage rates will be denied federal student...
  • The Feds Should Stop Luring Students Into Ruinous College Debts

    12/11/2016 2:28:33 PM PST · by reaganaut1 · 62 replies
    Forbes ^ | December 11, 2016 | George Leef
    American college students have taken to saying that they need “safe spaces” on campus. They really don’t, since all they’re after is “safety” from ideas they dislike. But if they were thinking ahead to life after graduation, many might wonder if they’ll need a safe space when the bills for their college loans start coming due. Much as they may want one, there won’t be any such haven. Bad borrowing decisions are almost impossible to escape. Consider the case of Liz Kelley, who is more than $410,000 in debt to the government for her student loans, as we learn in...
  • Indoctrinating the Young in Hate Factories

    12/03/2016 5:00:37 PM PST · by Sean_Anthony · 20 replies
    Canada Free Press ^ | 12/03/16 | Ray DiLorenzo
    Our education system has created a multitude of young, inexperienced, poorly educated, indoctrinated minds, speaking as with authority…scary! If you want to learn to hate America, your nearest public school or college is waiting for you. If it is a university you want to attend, don’t worry about the cost, the government (taxpayers) will pick up the tab as student loans are about to be forgiven to the tune of $108 billion and will probably go much higher. Our schools across the country have created and nurtured millions of godless, America-hating, angry, statist, whiny, cry babies and we will all...