In May 2012, the National Consumer Law Center’s Student Loan Borrower Assistance Project released Borrowers on Hold: Student Loan Collection Agency Complaint Systems Need Massive Improvement, focusing on major gaps in the federal student loan collection agency complaint system
Unfortunately, the bad news about student loan debt burdens keeps coming. The Education Sector recently highlighted a number of troubling trends, including: From 1994 to 2009: The percent of graduates taking out loans increased from 42% to 62%, Median monthly loan payments as a perce
Social Security helps give aging and disabled Americans peace of mind. No matter how destitute we become, Social Security is meant to give us some measure of confidence that we will be able to get by. Social Security and other federal benefits are not as secure as they used to be. A
The Consumer Financial Protection Bureau (CFPB) is requesting information about ways to provide relief for private student loan borrowers. Comments must be received on or before April 8, 2013. This is a critical opportunity for borrowers and their advocates to provide input on stud
More than two years have passed since the Department of Education pulled the private collection agency handbook off of its web site and as far as we can tell, the handbook has yet to reappear in public. (You can find the old handbook from 2009 on our site). The Department does have
When we released our “Finding a Way Out” report five years ago, we were extremely concerned about the lack of reliable and affordable resources for financially distressed student loan borrowers. Unfortunately, the situation has not improved despite the increased numbers o
Despite all of the government money spent on financial aid, the difference in college graduation rates between our nation’s top and bottom income groups has widened by nearly 50% over two decades. We need to reset our nation’s policy priorities so that student borrowers are given the
A recent New York Times article focuses on the low college entry and completion rates for lower-income students. Greg Duncan, an economist at the University of California, Irvine summarizes these troubling trends in the article: “Everyone wants to think of education as an equalizer-
For a number of years, we have been writing about the problems facing borrowers trying to consolidate their loans out of default and into Income Based Repayment (IBR). The Department of Education was placing borrowers in ICR even if they selected IBR as their preferred payment plan.
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