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Category Archives: Our Blog
State Relief for Proprietary School Abuses
State tuition recovery funds (STRFs) can be a valuable source of relief for defrauded students when a school is insolvent and when the student cannot obtain a federal discharge. STRFs contain deposits of money collected from schools approved to operate … Continue reading
Measuring the Impact of Financial Literacy Programs
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. A … Continue reading
Tagged Federal student loans
Profits and Education: What About the Students?
Joe Nocera wrote in the New York Times last week that profits and education shouldn’t have to be such an ugly combination. Nocera notes that defenders of the for-profit higher education industry are often ignored when they point out that … Continue reading
Tagged Default, For-Profit schools
New Unemployment Deferment Self-Help Packet
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 … Continue reading
Tagged Federal student loans
Creating a Fair Disability Discharge Process
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 determinations … Continue reading
Tagged Disability, Federal student loans
The Costs of Draconian Student Loan Collection
The Department of Education has unprecedented powers to collect defaulted student loans. The agency can take tax refunds (even earned income tax credits), garnish wages without first getting judgments, and even seize portions of federal benefits such as Social Security. There … Continue reading
Tagged Collection, Default
Reverse Redlining, Discrimination, and For-Profit Education
Redlining is the practice of denying credit to particular neighborhoods on a discriminatory basis. The flip side is reverse redlining, the practice of targeting these same communities or protected classes for predatory lending. The creditor may not even offer better … Continue reading
Tagged For-Profit schools
Student Loan Debt and Low-Income Borrowers
Student Loan Borrower Assistance Project Director Deanne Loonin recently spoke about student loan issues with Isaac Bowers, senior program manager at Equal Justice Works. Here is an excerpt from that interview: “Student loan policy is generally developed with a focus on the … Continue reading
Tagged Default
Don’t Count on Accurate Information about Student Loans and Bankruptcy
Megan McArdle’s recent article, “Don’t Count on Settling Those Student Loans” includes some helpful advice for student loan borrowers. She is right on that it is very difficult to settle student loans. Unfortunately she does not stop there. McArdle goes on … Continue reading
Tagged Bankruptcy
The Consequences of Student Loan Defaults
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: … Continue reading
Tagged Default, Federal student loans
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