Category: student loans
Department of Education Terminates Contracts with 5 Debt Collection Companies
Huffington Post reports that the US Department of Education is terminating its relationships with five debt collection agencies which have been contracted to collect student loans. This action is in response to an inspector’s report that found fault with the agencies, specifically mentioning that some misrepresented the rights of the students, the collection fees, and […]
Did you cosign a student loan for your grandchild? the perils and pitfalls
I have no respect for schools that pressure their students to get their grandparents to cosign student loans. If a school has no confidence that the student or even the student’s parents can pay for the school, then the educational program likely isn’t worth what it costs in the first place. That goes double when […]
Student Loans Got You Feeling Hopeless? 1. You’re not alone. 2. The CFPB is paying attention
The Consumer Financial Protection Bureau is examining the problems people are having with student loans. The most pressing problem is that student loans cannot be discharged in bankruptcy most of the time. This can leave desperate borrowers with no workable solutions. The worst problems are with private student loans. Often the private student loans have […]