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Recent Posts in Student Loans Category

  • Nation's Largest Servicer of Student Loans Sued by CFPB

    || 24-Jan-2017

    Navient Corp, the nation’s largest servicer of student loans, was sued by the Consumer Financial Protection Bureau (CFPB), alleging that they cheated borrowers by failing to provide the basic functions of student loan servicing. As a result, borrowers struggled to pay the higher payments demanded of them. Navient, which was once part of Sallie Mae, deceived consumers for years, according to ...
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  • According to a new article published by The Wall Street Journal, the federal government is currently on track to forgive United States student loan debt by about $108,000,000,000 as more consumers are seeking help to pay down their student loans, leading to lower revenues for the US’s program to finance higher educations. This information was disclosed in a report on Wednesday when the ...
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  • Can You Inherit Debt?

    || 5-Oct-2016

    For many family members, the stress of dealing with debt left behind can sometimes eclipse their grief for the loss of their loved one. Typically, the deceased person’s estate assets satisfy the claims of any creditors before they are distributed to beneficiaries, sometimes leaving survivors nothing to inherit. Even if the deceased’s assets do not adequately pay off remaining debts, ...
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  • Government to Forgive Student Loans of 400,000 Disabled People

    || 19-Apr-2016

    The government has already begun sending letters to nearly 400,000 eligible people with permanent disabilities, informing them of the steps they can take to discharge their student loan debt. The letter campaign, which began yesterday and will continue over the next 16 weeks, included 387,000 people who have been identified as having permanent disability status – nearly 180,000 of which have ...
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  • 8 Tips for Paying off Student Loans Faster

    || 18-Mar-2016

    Millions of Americans are saddled with thousands or tens of thousands of dollars in student loan debt. In fact, student loan debt has become a national crisis, with $1.2 trillion worth of outstanding debt in the United States. Approximately 70 percent of bachelor’s degree recipients graduate with massive amounts of debt, all at a young age and often without lucrative jobs. As college costs ...
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  • Student Loan Debt Crisis Harming Senior Citizens

    || 22-Dec-2015

    An article published last week by Bloomberg Businessweek tells the story of Robert Murphy, a 65-year-old man who holds nearly $250,000 in student loan debt. The balance was amassed from seven different Parent PLUS loans, which he used to send his three children to college. After losing his job in 2002, Murphy was no longer able to make payments on these debts, and even faced foreclosure ...
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  • Why Millennials Are Saving Less for Retirement

    || 11-Dec-2015

    According to a recent study, young career-goers who enter the workforce without student debt are better set for retirement than their indebted counterparts. Specifically, millennials with $30,000 in student loan debt are more likely to enter retirement with significantly less savings than other graduates their age. In fact, students who graduate with debt could end up retiring with as much as ...
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  • Student Loan Forgiveness to Help Eligible Borrowers by 2017

    || 26-Aug-2015

    Student loans, held by as many as 43 million Americans, have the highest rate of default and delinquency rates of all consumer debts. This liability is worth a staggering $1.3 trillion, with the average student loan debt totaling approximately $33,000 per borrower. With borrowers facing growing demands in a tough labor market, many people are finding themselves swallowed by debt. After years of ...
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  • Student Loan Debt Crisis Cripples Countless Americans

    || 14-Aug-2015

    Millions of Americans are struggling under mountains of student loan debt, often holding them back from their future prospects. Crippling debt is putting people’s lives on hold, and is having serious effects on the economy. With the continually rising costs of higher education across the nation, many students not only struggle to make ends meet in college, but continue to struggle for years ...
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  • Can Bankruptcy Discharge Private Student Loans?

    || 8-Apr-2015

    Bankruptcy can’t eliminate federally guaranteed student loans, such as Stafford loans, but this rule doesn’t always apply to private student loans. A private student loan, in short, is a financing option for individuals who want to seek higher education and need support aside from traditional financial aid to achieve this goal. Private student loans can replace or supplement federal ...
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  • Student loan debt remains a top concern for millions of Americans - and the $1.2 trillion in student loan debt we carry as a nation makes it clear this isn’t a problem that will fix itself. In an effort to chip away at this incredible debt load and address a serious financial burden affecting the next generation of working Americans, lawmakers, economists, and experts from across the country ...
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  • Proposed Bill Could Make Student Loan Debt Dischargeable in Bankruptcy

    || 23-Jan-2015

    On Thursday January 22, Maryland Democrat Rep. John Delaney introduced legislation that would allow student loan debt to be discharged in bankruptcy. The proposed bill - the Discharge Student Loans in Bankruptcy Act (H.R. 449) - aims to close what Delaney has called a "huge loophole in bankruptcy law that's hurting real people." Under current bankruptcy law, student loan debt is ...
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