A newly released independent film, “Broke, Busted and Disgusted,” highlights the breakdown in the student loan system and the economic strain on students. Screenshot from “Broke, Busted and Disgusted” When Iowa financial literacy adviser Adam Carroll took a closer look at the student loan system, what he found was alarming: college freshmen with little understanding… Continue reading Filmmaker: Student loans are ‘worst weed in your yard’
Unlike other types of consumer debt, it’s impossible to refinance a federal student loan and have it stay a federal student loan. Sen. Elizabeth Warren (D-Mass.), Democratic presidential front-runner Hillary Clinton and others have proposed giving federal student loan borrowers the option to refinance their loans to take advantage of lower interest rates. MarketWatch and… Continue reading How and when to consolidate your student loans
Heard of the “borrower defense” law? The federal government opened the door last year. Anyone with student debt will quickly find out it’s nearly impossible to escape. Begging or even bankruptcy won’t make the loans go away. Related Topics: Why is it so hard to settle student loan debt? Tax Season is here….are your student… Continue reading How to Legally Ditch Your Student Loans
Syd Andrade, a 27-year-old aspiring video-game designer living in Austin, Texas, owes $30,000 in federal student loans. Mr. Andrade is among the thousands of Americans petitioning the Education Department to forgive their loans, arguing that their schools deceived them with false promises Americans are flooding the government with appeals to have their student loans… Continue reading Thousands Apply to U.S. to Forgive Their Student Loans, Saying Schools Defrauded Them
When student loan bills pile up in a jumble of numbers, interest rates and pay-to addresses, “consolidation” can sound like a cure-all. Consolidating your federal loans, private loans or both will give you a single monthly payment — and a bunch of other changes to your loans you might not have considered. Dive into the… Continue reading Should I Consolidate My Student Loans?
An administrative wage garnishment allows the Department of Education to garnish your wages without having to get a judgment in court. Unless you agree to a higher amount, the Department can garnish the lesser of 15% of your disposable pay or the amount exceeding 30 times the federal minimum wage, which as of $7.25/hour. (The… Continue reading How to stop administrative wage garnishment student loans
Student loan debt is a very real thing and many people are finding it hard to make their monthly payments. While it may seem like a daunting task, there are ways to make the repayment process work in your favor. Let’s take a look at some advice that can help you make those student loan payments. Don’t… Continue reading What To Do If You Can’t Repay Your Student Loans
When I began taking out student loans for university, I had a fool-proof five-year plan for paying them off. I was going to go to graduate school, become an elementary school teacher, work in a high-needs public school for five years, and have the rest of my federal debt forgiven. Simple. If I stuck with… Continue reading I Defaulted on My Student Loans. Here’s What I Did to Get Back on Track
Private student loan settlements are difficult to get, but are possible in some cases. There are no specific laws or regulations requiring private lenders to offer settlements. The policies and programs vary considerably by lender. Private lenders will offer settlements in some cases. However, the lenders generally require very large lump sums to settle debts… Continue reading Private student loan settlements are difficult to get, but are possible.
Settling student loan debt isn’t easy, but it can be possible — if you’re in exactly the right circumstances. Troubled borrowers who can offer a substantial lump sum may be able to free themselves from years of wage garnishments, tax refund seizures and other collections efforts, according to student loan experts. The key… Continue reading Why it’s so hard to settle student loan debt
Student Loan Experts 