Archive for the Student Loan Default Category
Killer Student Loans
Posted in Economy, Higher Education, Sallie Mae, Student Debt, Student Loan Default, Student Loans with tags elections, halloween, midterm elections, student loan crisis, u.s. economy on October 31, 2010 by debtprisonerThe Student Loan Disclosure Document You Should Read
Posted in Economy, Higher Education, Sallie Mae, Student Debt, Student Loan Default, Student Loans on October 31, 2010 by debtprisoner“Very, very few borrowers fully understand the potential ramifications of the loans that they are taking out.”
LINK to “The Student Loan Disclosure Document Every Borrower Should Read” by Zac Bissonnette at Huffington Post
VIDEO: U.S. Students Drowning In College Debt
Posted in Activism, Economy, Higher Education, Media Appearances, Sallie Mae, Student Debt, Student Loan Default, Student Loans with tags art institutes, bill collectors, chiropractic student loans, credit cards, debt relief, economic crisis, jobs, student loan forgiveness, student loan scam, u.s. politics on October 16, 2010 by debtprisonerBankruptcy Protection Bill for Private Student Loans Advances in Congress
Posted in Activism, Economy, Higher Education, Sallie Mae, Student Debt, Student Loan Default, Student Loans with tags art institutes, bankruptcy, debt snowball, student loan forgiveness, student loan relief, Student Loans on October 16, 2010 by debtprisonerThe Private Student Loan Bankruptcy Fairness Act (H.R. 5043), originally introduced in the House on April 15 by Reps. Steve Cohen of Tennessee and Danny Davis of Illinois, was passed by a House subcommittee on Sept. 15. The proposed legislation would reverse a provision of a lender-friendly bankruptcy reform bill that, in 2005, created special protections for lenders of private student loans, making private student loans almost impossible to discharge in bankruptcy, unlike most every other form of private consumer debt.
LINK TO FULL STORY
Starting Life With Student Loan Debt
Posted in Economy, Media Appearances, Student Debt, Student Loan Default, Student Loans with tags cartoons, direct loans, political cartoons, Sallie Mae, student loan bailout, student loan scam, third world america, u.s. economy on October 6, 2010 by debtprisonerStudent Loan Scam: the fast road to Debt Slavery
Posted in Chiropractic College Debt, Economy, Higher Education, Sallie Mae, Student Debt, Student Loan Default, Student Loans with tags art institutes, chiropractic loans, Economy, obama, private college loans, Student Debt, university of phoenix on September 5, 2010 by debtprisonerStudent Loan Debt Clock — $848 billion and counting
Posted in Activism, Economy, Higher Education, Student Debt, Student Loan Default, Student Loans with tags huffington post, obama, student loan crisis, student loan debt clock, u.s. economy on September 5, 2010 by debtprisonerA new tool lets you watch the country’s collected student debt pile up in real time.
Sponsored by FinAid.org, the Student Loan Debt Clock tallies an estimate of total private and federal outstanding student debt. According to FinAid, now is peak time for debt growth, as more student loans are doled out at the semester’s start.
Link (to Huffington Post)
High Costs, Loan Defaults at For-Profit Colleges
Posted in Economy, Higher Education, Sallie Mae, Student Debt, Student Loan Default with tags art institute, for profit college, recession, student loan crisis, university of phoenix, usatoday on September 5, 2010 by debtprisonerFrom USAToday:
According to the Department of Education, 77% of for-profit universities’ revenue — some $24 billion in the 2008-09 academic year — comes from federal grants and loans. Amazingly, even though the industry accounts for only 10% of students, it is responsible for 44% of all loan defaults. On average, more than one in five people who borrow to attend for-profit institutions is in default within three years of leaving school. The schools don’t care because the loans are federally guaranteed — an echo of the practices that led banks to issue subprime mortgages.
Link (to USAToday)
Meet Your New Roommate: Student Debt
Posted in Economy, Higher Education, Student Debt, Student Loan Default, Student Loans with tags cartoons, humor, student loan crisis, u.s. economy on August 30, 2010 by debtprisonerChiropractors Defaulted on Student Loans “In Droves”
Posted in Chiropractic College Debt, Economy, Higher Education, Student Debt, Student Loan Default, Student Loans with tags alternative complementary medicine, chiropractic, chiropractic care, chiropractic college, chiropractic students, chiropractor, chiropractors, Economy, life university, medicine, quackery, student loan consolidation, student loan defaults, student loan scam, subluxations on August 23, 2010 by debtprisonerThe chiropractic industry counted a win after it successfully lobbied for inclusion in a federal student loan program for those studying health-related professions. Decades later, though, significant numbers of chiropractors have defaulted on their loans, leaving Uncle Sam to make up the difference.
Fifty-three percent of healthcare providers barred from receiving Medicare and Medicaid reimbursements from patients because they defaulted on Health Education Assistance Loans (HEAL) are chiropractors, according to an analysis of the Department of Health and Human Services’ exclusion list.
The data shows people well into middle age–even in their 60s–saddled with debt, sometimes as much as $500,000, from the four years of graduate chiropractic school.
Link (via Sunshine Foundation Reporting Group)
We’ve said it before and we’ll say it again: Don’t become a chiropractor unless you like STUDENT LOAN DEBT you can’t repay — and lots and lots of it. You have been warned.