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Post-Election Chopping Block

Regardless of your emotional response to the election results, the question on your mind now is, "Now what?". Will student loan programs be axed? Will some be saved? The door is wide open to possibilities, but lets start with what the new President can and can't do. There are issues that are within . . .
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ITT Loan Escape Plans

If you're an ITT student, or know one, you know that ITT is closed effective September 6, 2016. No matter how it went down, the question you want answered now is what to do about your student loans. The short answer is, I really don't know. What follows is my suggestions, as The Student Loan Lawyer. . . .
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Under Pressure, Government Offers Corinthian College Student Loan Debt Relief

On June 8, 2015, the Department of Education (ED) announced forgiveness for students attending Corinthian Schools - the for-profit chain that recently fell like the house of cards that it was. It all started in May 2104 when Corinthian missed a deadline to provide a number of requested documents . . .
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Student Loan Bill of Rights

On March 10, 2015, President Obama introduced the Student Aid Bill of Rights; another executive action to deal with student loan debt. Read the official Memorandum. Let's take a look at some of the details. State-of-the-Art Complaint and Feedback System The President is requesting a "simple . . .
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IBR, ICR, PAYE, and IBR. Wait, what?

Dealing with Federal loans means understanding industrial acronyms. But what do you do when the same acronym means different things - or multiple acronyms mean almost the same thing. Does a letter really make a difference? You bet it does! Today we'll discuss income driven plans - repayment based . . .
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What You Don’t Know About Student Loans Can Really Hurt!

IBR, ICR, and PAYE – the income driven repayment plans: These three plans, Income Based Repayment (IBR), Income Contingent Repayment (ICR), and Pay As You Earn (PAYE), are all based on your income. That means low income earners, or those on social security, can qualify for an exceptionally low . . .
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Treating Servicers like Potty-Training Toddlers

This past weekend, I attended the Consumer Rights Litigation Conference put on by the National Consumer Law Center (NCLC). The opening speech was by Deputy Treasury Secretary Sarah Bloom Raskin. It was a fabulous speech about my favorite topic - student loans. Understand that the NCLC conference . . .
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For-Profit School Status Report

For-profit schools are often in the news, especially when discussing student loan debt.  It's a statistical truth that their students have a higher rate of default, a higher drop-out rate, and more often require private student loans.  These students are also more often sub-prime borrowers.  Lets . . .
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The Problem with Senator Warren’s Student Loan Bill

Senator Warren’s bill failed to gain enough support to move on from the Senate. Now that it's dead, let me tell you why I’m glad for that. This bill is a bad idea. It does little to help already struggling borrowers, and hurts more than most folks realize. Further, with President Obama’s recent . . .
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Obama’s Executive Action Falls Woefully Short

On June 9, 2014, President Obama took action to make college more affordable. Can we call this what it really it is? It’s an act to make student loans more affordable.   This act in no way makes college any more affordable than it already isn’t. What the President did was expand a program he . . .
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