We wrote previously about the dangers of promoting financial literacy efforts INSTEAD of regulating abusive credit products and INSTEAD of providing relief for financially distressed student loan borrowers. We noted the shocking lack of evidence that financial literacy is effective.
NCLC’s Student Loan Borrower Assistance Project posted a new self-help packet this week. The unemployment deferment packet helps borrowers figure out whether they are eligible for this deferment and if so, how to apply. Only federal student loan borrowers with loans that are
We highly recommend Pro Publica’s latest article on student loan disability discharges. In this article, Sasha Chavkin asked the Department of Education to clarify its position on the most critical disability discharge issue—Will the Department consider Social Security disability det
Deanne Loonin, Director of NCLC’s Student Loan Borrower Assistance Project, spoke on a panel this week at the annual conference of the National Association of Student Financial Aid Administrators. Here are her more extended views on the session, “Student Borrowing: Reasonable Debt L
We wrote in a previous post about key comments submitted to the Department of Education for the upcoming negotiated rulemaking sessions. Many groups raised important issues. NCLC’s testimony focused on relief for financially distressed borrowers. Others commented on a wide range of
We submitted these comments to the Department of Education last week. We will write a number of articles the next few weeks with more details about key proposals. Our recommendations focus on strengthening relief for borrowers who are harmed by school abuses or who cannot repay due
On May 5, 2011, the Department of Education announced that it will soon be holding a new round of negotiated rulemaking sessions. The Department also announced three public hearings for interested parties to discuss the rulemaking agenda. The public hearings will be held on: –
A recent report released by the Institute of Higher Education Policy found that for every federal student loan borrower that defaults, at least two others become delinquent without default. Access to higher education was the mantra at a New America forum held in March to discuss the r
The debate about the costs of defaulted federal student loans has taken a very troubling turn. Confusing budget numbers seem to show that the government actually recovers more than it pays out on federal student loans. Jason Delisle of New America wrote an excellent article on this
Please understand that we do not provide legal advice about individual cases. We request that users first review the information on this site and call or e-mail only with general questions not answered here. This web site includes links to other resources for those who seek individualized legal advice or other help not offered here. This site is for people who already have student loans and want to know more about their options and rights.