We wrote a report in 2009 about the lack of relief for financially distressed private student loan borrowers. Unfortunately, we have seen little progress in the past few years and in some cases, the situation is even worse for borrowers. We often try to negotiate with private studen
President Obama signed financial reform legislation this summer that creates a new consumer financial protection bureau (CFPB). The CFPB will have rule writing authority over private student lenders, including bank and non-bank lenders. The CFPB will also have enforcement authority
In April 2010, separate bills were introduced in the U.S. House and Senate to restore bankruptcy dischargeability of most private student loans. The House Judiciary Committee held a hearing on H.R. 5043. Deanne Loonin of NCLC testified in support of the legislation. Student loan bo
2009 was a big year in the student loan world. Unfortunately, as the economy has worsened and joblessness rates have increased, more and more student loan borrowers are finding it difficult to deal with overwhelming debt loads. We will write more in 2010 about our clients and other
The holiday season can be a time for reflection, so I am thinking back on the student loan borrower clients I have worked with this year. On the positive side, we have helped many borrowers manage their overwhelming student loan debt loads. I will write more about these successes
On Thursday, November 5, Senators Sherrod Brown (D-OH), Michael Bennett (D-CO), Al Franken (D-MN) and Barbara Mikulski (D-MD) introduced new legislation (S. 2733) to create a private student loan ombudsman program. This is a promising first step in improving assistance for financially
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.