VinothChandar / Foter / CC BYNow that the government is shut down, there is a great concern about how this affects collections of student loans, default or not. We first need to clarify that the shutdown only affects government agencies. Guarantee agencies like ECMC, Great Lakes, etc. are not . . .
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What do Student Loans and Foreclosures Have in Common?
If you think about it, the answer is quite obvious: both are nationwide crisis with governmental programs meant to help that utterly fail because the private sector meant to administer the cure can't do its job...PERIOD!
Once again the Huffington Post nailed it with its latest article: Education . . .
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Sallie Mae in the News…Again!
I was trying to find a witting opening, but all I could come up with for a reference was Mustang Sally. It's not on target, but some of the lyrics could be made relevant, "All you want to do is ride around Sally, ride, Sally, ride."
What's that? Sallie Mae is riding around? Well yes, if we . . .
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Please Excuse My Dear Aunt Sallie
If you remember grammar school math, you'll understand the reference. By Aunt Sallie we mean dear old Sallie Mae, the biggest fish in the student loan industry. Finally, someone in government noticed something fishy and launched an investigation.
First, lets thank the Huffington Post for their . . .
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What Happens To A Student Loan When You Die?
As in marriage, student loan debt is a matter of "until death do you part."
If you've got student loan debt, there are lots of options to keep yourself out of default. For some, the debt can be repaid in full before they get to the grave.
Unfortunately, as student loan debt climbs to . . .
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Student Loan Lawyer On KFWB Money 101
On July 2, 2013 I was honored to talk with Bob McCormick of Los Angeles radio station KFWB on the subject of student loan law. We chatted about the rise in student loan interest rates on July 1, 2013, income-based repayment, and more.
Listen to the show here on the website or download it to your . . .
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Why Your Bankruptcy Lawyer Can’t Hide From Student Loan Law
Why don't lawyers who help people get out of debt know about student loans?
When he filed for bankruptcy, private student loans could be wiped out without a hitch.
This was in the old days, you understand - before the bankruptcy laws were overhauled in 2005. All his lawyer needed to do was . . .
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3 Easy Ways To Find Out Whether A Student Loan Is Federal Or Private
The question of "federal or private" is an important one to answer because different solutions apply based on the type of loan you've got.
Federal student loans are controlled by various federal laws, and programs exist to help you manage those loans.
Private student loans, on the other hand, . . .
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3 Questions You Need To Answer To Get Help With Your Student Loans
What you need to know to tackle your student loans on your own and how to recognize when you need help.
When you're looking for help with your student loan problems, you've got three questions you need to answer before you can get help with your student loan problems.
Some of these questions . . .
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Private Student Loan Lender to the Rescue? Not Quite!
The Street ran an article today which I can only hope was their attempt at an April Fool's joke. It's supposed to be a hopeful story about Sallie Mae creating a way for new borrowers to reduce their first year payments. It's a crock!
You see, what Sallie Mae offers is a year of interest only . . .
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