Library of Congress CRS Reports – Bankruptcy and Student Loans, July 1, 2019. “As overall student loan indebtedness in the United States has increased over the years, many borrowers have found themselves unable to repay their student loans. Ordinarily, declaring bankruptcy is a means by which a debtor may discharge—that is, obtain relief from—debts he… Continue Reading
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GAO Report – Federal Student Loans
Federal Student Loans: Education Could Improve Direct Loan Program Customer Service and Oversight, GAO-16-523: Published: May 16, 2016. Publicly Released: Jun 15, 2016. “Education has multiple mechanisms to oversee servicers, but key weaknesses limit its ability to manage the Direct Loan program. First, while Education has made improvements in how it tracks borrower complaints, it… Continue Reading
Default rate of student loans held by aging parents increases
Bloomberg – “Twenty-seven percent of education loans held by people age 65-74 were in default in 2013, meaning they hadn’t made a payment in 270 days or more. More than half of education loans held by people 75 and older were in default. And the government can garnish wages or suspend tax refunds for anyone… Continue Reading
GAO Reports – Federal Student Loans, Grants Management, International Classification of Diseases, Prepositioned Stocks, Surface Transportation Security
Federal Student Loans: Education Could Do More to Help Ensure Borrowers Are Aware of Repayment and Forgiveness Options, GAO-15-663: Published: Aug 25, 2015. Publicly Released: Sep 17, 2015. Grants Management: EPA Has Opportunities to Improve Planning and Compliance Monitoring, GAO-15-618: Published: Aug 17, 2015. Publicly Released: Sep 17, 2015. International Classification of Diseases: CMS Has… Continue Reading
Paper – Crisis in Student Loans
A crisis in student loans? How changes in the characteristics of borrowers and in the institutions they attended contributed to rising loan defaults. Adam Looney, U.S. Treasury Department; Constantine Yannelis, Stanford University, September 2015. “This paper examines the rise in student loan delinquency and default drawing on a unique set of administrative data on federal… Continue Reading
Almost 17 percent of outstanding past-due balance of student loans is held by those over 50
Becky Yerak and Kristin Samuelson, Chicago Tribune reporters: “A report released Wednesday by Barclays notes that 15.5 percent of outstanding student loan debt is owed by people 50 and older, including 4.2 percent held by people 60 and older. Those are staggering amounts given that outstanding student loan debt has surpassed $1 trillion, exceeding the… Continue Reading
Nearly 1 Million Community College Students Denied Access to Federal Student Loans
“With Americans increasingly having to borrow to pay for college, a new report from the Institute for College Access & Success (TICAS) finds that nearly one million community college students cannot get federal student loans because their school chooses not to offer them. Without access to federal student loans, students may not be able to… Continue Reading
5 Things To Consider When Taking Out Student Loans
Via Home Room – the official blog of the Dept. of Education: “Federal student loans can be a great way to help pay for college or career school. While you shouldn’t be afraid to take out federal student loans, you should be smart about it. Before you take out a loan, it’s important to understand that a loan… Continue Reading
New GAO Report – Federal Student Loans
FEDERAL STUDENT LOANS: Impact of Loan Limit Increases on College Prices Is Difficult to Discern, GAO-14-7: Published: Feb 18, 2014. Publicly Released: Feb 18, 2014. “For more than a decade, college prices have been rising consistently and have continued to rise at a gradual pace after the Stafford loan limit increases were enacted in 2008 and 2009.… Continue Reading
New GAO Reports – Federal Student Loans, U.S. Merchant Marine
FEDERAL STUDENT LOANS – Borrower Interest Rates Cannot Be Set in Advance to Precisely and Consistently Balance Federal Revenues and Costs, GAO-14-234, Jan 31, 2014: “Total Direct Loan administrative costs grew from $314 million to $864 million from fiscal years 2007 to 2012, but federal costs per borrower have generally remained steady or fallen. The increase in… Continue Reading
How Qualified Student Loans Could Protect Borrowers and Taxpayers
How Qualified Student Loans Could Protect Borrowers and Taxpayers. Joe Valenti and David A. Bergeron | August 20, 2013. “Over the past few decades, student-loan debt has grown dramatically and now exceeds $1 trillion, including more than $150 billion in private student loans. Since the late 1970s, however, Congress has gradually made it increasingly difficult… Continue Reading
CFBP Consumer Complaint Database now includes federal and private student loans
CFPB – Consumer Complaint Database – “These are complaints weve received about financial products and services. Learn about the complaint process. We dont verify all the facts alleged in these complaints but we do take steps to confirm a commercial relationship between the consumer and company. Complaints are listed here after the company responds or… Continue Reading
