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Student Loans and Credit Reports

With all the recent press about credit reporting company Equifax's major data breach, now's a good time to discuss the intersection of student loans and credit reports. It's not uncommon to have questions about how student loans affect credit, so lets sort the myths from the facts. What Shows on a . . .
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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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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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Bankruptcy is not the answer…or is it?

When it comes to student loans, bankruptcy tends to be useless. But not always. Sometimes it can help. Sometimes it can hurt. Let's take a deeper look. Bankruptcy Helps If you have a federal student loan with a wage garnishment or social security offset, a bankruptcy can offer protection. Once a . . .
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Fear not the Difficulty of Discharging Student Loans in Bankruptcy

True or false? Discharging a student loan in bankruptcy is insanely difficult. If you answered, you're correct. True Because perception is often reality, and the perception is that discharging student loans in bankruptcy is difficult, most folks believe this, attorney and non-attorneys alike. . . .
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This is the end…

I pondered all the songs that could be appropriate for this post - ding dong the witch is dead, deadman's party, celebration time, the list goes on.  But in the end, sing what you want, because it appears the death knell is ringing.  Corinthian colleges is on its way out. Corinthian Colleges I . . .
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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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Student Loan Debt Crisis Symposium Review

This past Friday I attended the ABI's (American Bankruptcy Institute) Student Loan Debt Crisis Symposium.  It was...um...interesting.  I say that because I came in with a unique perspective, being in the trenches and all.  For me, it was more review and less of an informative or "problem solving" . . .
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Student Loans and Military Personal

Yesterday was Memorial Day, so it is only proper that I discuss protections from student loans for those who serve our country. SCRA The Servicemembers Civil Relief Act has many provisions that apply to many other debts besides student loans.  The important one here is the interest rate cap.  All . . .
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