On October 28, the Department of Education issued final regulations intended to protect student loan borrowers against school closures and fraud.  To that end, the rules include significant provisions restricting school arbitration agreements; clarifying student rights to raise school fraud as a defense to loan repayment; providing automatic closed school loan discharges to certain eligible […]

According to recent reports by the Consumer Financial Protection Bureau, student loan debt is currently around $1.2 trillion. For many people, the decision to take on student loans is often the first major financial decision of their adult life. However, it is also a decision that can haunt us later in life. Students often struggle […]

The Consumer Financial Protection Bureau (CFPB) reports that more than 40 million borrowers owe on federal and private student loans, with the average student debt around $23,000. I, like many of you, am one of those 40 million borrowers. Student loan debt can be a stressful financial burden for most people. However, armed with some […]

Food for thought*:  Nearly 20 million Americans attend college each year. (Source: Chronicle of Higher Education) Of that 20 million, close to 12 million – or 60% – borrow annually to help cover costs. (Source: Chronicle of Higher Education) There are approximately 37 million student loan borrowers with outstanding student loans today. (Source: Federal Reserve Board of New […]

Food for thought*: “Millions of students are senselessly defaulting on their debt while failing to take advantage of programs meant to protect them financially. And chances are, it’s the poorest, least sophisticated borrowers who are suffering worst.” The students at risk of defaulting are not taking advantage of the programs meant to help them. As shown […]

Food for thought: “For-profit higher education is today a booming industry, feeding on the student loans handed out to the desperate.” -Thomas Frank,an American political analyst, historian, journalist and columnist for Harper’s Magazine.  I have student loans, you have student loans, the guy sitting next to you has student loans, even your boss is still […]