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Keyword: studentloandebt

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  • 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...
  • Many L.A. students get to college; only a few finish

    09/02/2017 7:44:52 AM PDT · by george76 · 66 replies
    Los Angeles Times ^ | 9/1/2017 | Howard Blume
    About 70% of Los Angeles high school graduates enroll in two- or four-year colleges, but only 25% graduate within six years. ... it’s hard to assess recent district efforts that could be seen as pushing in different directions. On one hand, the district is touting higher standards: a high school graduation requirement that all students pass the courses necessary for applying to a four-year state college. On the other hand, the district requires a grade of D only in these classes and the colleges require a C or better to apply. The district also offers an array of “credit recovery”...
  • Here's How We Solve Impending Student Loan Disaster

    11/18/2016 10:34:25 AM PST · by Kaslin · 59 replies
    Townhall.com ^ | November 18, 2016 | Wayne Allyn Root
    For those of you who are unaware, America is facing a student loan disaster. The facts are frightening. Student debt is now in excess of $1.2 trillion. Yes, TRILLION. To put that in perspective, student debt is more than the total of all of America’s credit card debt. Now comes the really bad news.Twenty-five percent of those with student debt are in delinquency or default…that is, right now American taxpayers are on the hook for $300 billion, or approximately $1000 for every man, woman and child in this country.Yes, you, your spouse and your 4-year-old child who has yet...
  • More Than 40% of Americans Not Making Student Loan Payments

    04/20/2016 3:09:01 PM PDT · by SeekAndFind · 42 replies
    Investopedia ^ | 04/15/2016 | By Shoshanna Delventhal
    Total U.S. student debt now topples credit card debt, surpassing the $1 trillion threshold in 2012. Each year a new class of students graduates from college; however, many of those graduates do not find jobs that can adequately allow them to pay back the hefty loans. (For related reading, see: Student Debt Passes $1 Trillion: Is College Worth the Investment?) A new report by the Education Department highlights the student debt epidemic. Not only is more than $200 billion in student debt owed to the federal government, several borrowers are woefully behind on making payments. The recent statement from the...
  • Neil Cavuto Asks Student Protestor How U.S. Will Pay for Socialist Wish List

    11/12/2015 4:03:41 PM PST · by Hojczyk · 42 replies
    The Washington Free Beacon ^ | November 12,2015 | Blake Seitz
    Fox Business host Neil Cavuto engaged a scholar in earnest Socratic dialogue Thursday. Keely Mullen is a national organizer for #MillionStudentMarch, a movement that demands “tuition-free public college, cancellation of all student debt, and a $15 minimum wage for all campus workers” in response to the crisis caused by rapacious corporate education. “#MillionStudentMarch is a movement for a more equitable and fair system of education as opposed to the really corporate model we have right now,” Mullen said. Mullen is a graduate of the prestigious Francis W. Parker School and political science student at Northeastern University, according to her LinkedIn...
  • Yes, You Can Discharge Student Debts And The Feds Want To Make It Even Easier

    10/12/2015 8:26:54 AM PDT · by reaganaut1 · 28 replies
    Forbes ^ | October 12, 2015 | George Leef
    Mark Twain famously said, “It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.” That observation could easily be applied to the situation facing students who have amassed large college debt burdens: they think they know that those debts cannot be discharged through bankruptcy. But that just ain’t so. The “undue hardship” provision in the U.S. Bankruptcy Code says that student loans cannot be discharged unless “excepting such debt … would impose an undue hardship on the debtor and the debtor’s dependents….” Just how difficult is it for a...
  • Free College Is Not Free, Hillary

    08/23/2015 7:08:34 AM PDT · by Kaslin · 5 replies
    Townhall.com ^ | August 23, 2015 | Bruce Bialosky
    I hate to kick a lady when she is down, but once again Hillary has forced me to respond to her. This time it is her recent nonsense which she refers to as “The New College Compact” and the rest of us can refer to as Hillary’s “Get Out Of College for Free Card.” There is definitely a problem with the cost of college today. The massive debt is inhibiting recent graduates from buying their own homes and starting their own businesses. That there is a problem is agreed to universally except for all the freeloaders at universities sucking up...
  • You’ll Never Guess the Latest Victims of the Student Loan Crisis

    06/30/2015 8:40:54 AM PDT · by Hojczyk · 88 replies
    Money ^ | June 30,2015 | Michaela Ross
    A fast-growing number of seniors are hitting retirement with a student debt burden. Even their Social Security is at risk Most debt you can get out of—painful as it might be. Credit card debt can be cleared in bankruptcy. A mortgage can end in foreclosure. But student debt is more sticky, and it turns out it can have big consequences in retirement. Last year, Richard Minuti’s Social Security payments were cut by 10%. The Philadelphia native was already earning only a bit over $10,000 a year, including some part-time work as a tutor. “I was desperate,” says Minuti. “Taking 10%...
  • Student Loan Debt: To Forgive and Forget

    06/16/2015 7:22:58 AM PDT · by Kaslin · 48 replies
    Townhall.com ^ | June 16, 2015 | Debra J. Saunders
    "You'd have to be made of stone not to feel for these students," Education Secretary Arne Duncan said as he announced an Obama administration decision to forgive as many as 350,000 loans taken out by students of the now-defunct Corinthian Colleges. "Some of these schools have brought the ethics of payday lending into higher education." I do feel for any adults who took out loans to pay for college courses that they expected to help land them jobs -- but didn't. If the government forgives their debts, then they still never will get back their time or restore their hopes....
  • Student Who Got In to Eight Ivy League Schools Picks Alabama Instead

    05/17/2015 7:13:00 PM PDT · by Kaslin · 65 replies
    Townhall.com ^ | May 17, 2015 | Christine Rousselle
    Ronald Nelson from Memphis, Tennessee, is a senior at Houston High School. He was accepted to all eight Ivy League schools--that's Harvard, Yale, Princeton, Dartmouth, Columbia, Brown, Cornell, and UPenn--along with Johns Hopkins, Stanford, and Vanderbilt, among a few other schools. While any of these schools are fantastic options, Nelson made headlines for another reason: he turned them all down. Nelson will be attending the University of Alabama this fall, as a member of the school's honors program.While it may seem shocking that a student would turn down a prestigious university for a state school, Nelson actually showed impressive maturity...
  • A revolt is growing as more people refuse to pay back student loans

    04/02/2015 10:13:22 AM PDT · by SeekAndFind · 93 replies
    Washington Post ^ | 03/31/2015 | By Danielle Douglas-Gabriel
    Remember those 15 people who refused to repay their federal student loans? Their “debt strike” has picked up 85 more disgruntled borrowers willing to jeopardize their financial future to pressure the government into forgiving their student loans. And the government is starting to listen. The Consumer Financial Protection Bureau has invited the group to Washington on Tuesday to discuss their demand for debt cancellation. Although the CFPB doesn’t have the power to grant that request, the agency’s overture shows that the strike is being taken seriously. It’s been a month since 15 former students of the failing for-profit giant Corinthian...
  • Congress Must Investigate Student Loan Costs

    03/22/2015 9:31:43 AM PDT · by Kaslin · 15 replies
    Townhall.com ^ | March 22, 2015 | Bruce Bialosky
    If you focus on a major issue about which nothing is being done then you can skip ISIS, Immigration or jobs. But if you want to talk about a looming crisis that gets mentioned frequently, but about which absolutely nothing is being done, then that is the booming student loan portfolio that is going to crash down on America’s head soon. This Congress – the 114th -- needs to focus on the looming student loan crisis and the root causes of the crisis. I have written about various aspects of the cost of college education numerous times over the last...
  • SOTU Fact Check: College Is Less Affordable And Students Are Billions In Debt

    01/21/2015 1:19:37 PM PST · by Kaslin · 28 replies
    Townhall.com ^ | January 20, 2015 | Conn Carroll
    In his State of the Union Tuesday night, President Obama claimed his "middle-class economics" would help make college more affordable. But after six years in office, his policies have only made college more expensive.When Obama first came into office, the average tuition for a four year in state college was $6,591. Today, it is $9139, a 38 percent increase. The growth in tuition for private schools was even higher.Meanwhile, house hold median income has fallen from  $54,059 when Obama took office to $51,939 today. So college tuition has gone up while income has fallen. That is the opposite of making college more affordable.So...
  • Obama's State of the Union Sales Tour

    01/05/2015 9:06:19 AM PST · by Kaslin · 7 replies
    Townhall.com ^ | January 5, 2015 | Conn Carroll
    resident Obama will travel to three cities this week where he will offer a preview of his January 20th State of the Union address.In Detroit on Wednesday, Obama will celebrate the end of the "auto rescue" which he claims saved one million auto industry jobs and is responsible for the resurgence of manufacturing in the United States. Obama will make no mention that his bailout of General Motors and Chrysler cost taxpayers $16 billion according to the latest Troubled Asset Relief Program Inspector General's report. On Thursday, Obama will travel to Phoenix where he will claim his administration's Home Affordable Modification Program is responsible...
  • For Medical Students, a Growing Residency Gap

    02/15/2013 9:42:42 AM PST · by eagleye85 · 5 replies
    Eagleye Blog ^ | February 15, 2013 | Bethany Stotts
    In a previous blog entry I discussed reasons not to go to law school, namely, the high debt and low employment ratio. It seems that medical students are facing a similar situation, as reported by the Washington Post’s Sarah Kliff. “But there’s also a downside to heading to medical school these days: Students’ odds of getting in a residency program are rapidly shrinking — and medical students have begun to live in fear of this very scary chart,” writes Kliff. The chart contrasts medical residency applications rising steeply, with a gradually increasing line of open 1st year residency positions. As...
  • Why Not to Go to Law School

    01/28/2013 2:51:47 PM PST · by eagleye85 · 12 replies
    Eagleye Blog ^ | January 28, 2012 | Bethany Stotts
    Is a college degree really worth the expense? A recent study, authored by Richard Vedder, Jonathan Robe, and Christopher Denhart, “used employment data from the U.S. Bureau of Labor Statistics to calculate that the number of college graduates is growing at a rate disproportionate to the number of jobs requiring a college degree,” reports the Chronicle of Higher Education. “They question whether America spends too much on higher education, and ask whether society can afford to subsidize higher education for graduates who end up in jobs they could have landed without going to college.” “The study, from the Center for...
  • The new American Helots

    06/15/2012 4:56:17 AM PDT · by Kaslin · 19 replies
    Townhall.com ^ | June 15, 2012 | David Hanson
    Ancient Sparta turned its conquered neighbors into indentured serfs -- half free, half slave. The resulting Helot underclass produced the food of the Spartan state, freeing Sparta's elite males to train for war and the duties of citizenship. Over the last few decades, we've created our modern version of these Helots -- millions of indebted young Americans with little prospect of finding permanent well-paying work, servicing their enormous college debts or reaping commensurate financial returns on their costly educations. Student-loan debts now average about $25,000 per graduating senior. But the percentage of youths 16 to 24 who are working (about...
  • The government's college money pit

    04/29/2012 4:29:17 AM PDT · by reaganaut1 · 14 replies
    Boston Globe ^ | April 29, 2012 | Jeff Jacoby
    IF INSANITY is doing the same thing again and again but expecting a different outcome, then the federal government's strategy for keeping higher education affordable is crazier than Norman Bates. For decades, American politicians have waxed passionate on the need to put college within every family's reach. To ensure that anyone who wants to go to college will be able to foot the bill, Washington has showered hundreds of billions of dollars into student aid of all kinds -- grants and loans, subsidized work-study jobs, tax credits and deductions. Today, that shower has become a monsoon. As Neal McCluskey points...
  • Forgive us our student loan debt (Is forgiving debt a moral issue?)

    04/28/2012 6:42:37 PM PDT · by SeekAndFind · 105 replies
    Washington Post ^ | 04/28/2012 | By Susan Brooks Thistlethwaite
    We need to start taking student loan debt seriously, both as a troubling moral issue and as a ticking economic time bomb. By some reports, student loan debt will exceed 1 trillion dollars this year, more than the credit card debt of all Americans. A whole generation of young Americans is at risk in this excessive borrowing. They fall further and further behind in “servicing their debt” because they have no way to keep up with the payments as many of them are unemployed or underemployed. They will delay starting marriage and families; they dare not take the risk of...
  • Saddled with college debt

    03/17/2012 8:57:01 AM PDT · by Sub-Driver · 95 replies · 1+ views
    Saddled with college debt By Melissa M. Horton, Published: March 16 “You can go to any college you want.” “You won’t have to pay for college.” “You’ll have lots of scholarships and financial aid.” These are just a few of the things my parents said throughout my childhood. I am a second-generation U.S.-born Latina. Growing up in the suburbs of Fort Worth, I was a straight-A student in Advanced Placement classes, with many civic activities on my resume. At 17, I never could have dreamed that my parents’ promises were lies. A decade-plus later, I, like many millennials, have more...