Tag Archives: student loans
Today’s Household Debt
Household Debt Composition Today Looks A Lot Different Than The Past Household debt has reached higher levels than before the Great Recession, but today’s debt has new characteristics that make it much more different than pre-recession times. Home mortgages were a major factor in the debt crisis of 2007-2008. Mortgage default in the following years Continue Reading
Student Loans and Older Americans – Is This A Growing Demographic?
When the term “student loan crisis” is brought up, the image that most often comes to mind is that of a young person who still has their best earning potential ahead of them. While many of those very people do indeed struggle with student loan debt, it now seems that older Americans, particularly those aged Continue Reading
Student Loans and Student Loan Debt Resolution Companies
Firms Popping Up For Student Loan Help Student loan debt is now up to about $1.2 trillion in outstanding debt in the United States. The 4 million people left with college debt are still looking for solutions and continue to be discouraged with a lack of available solutions or alternatives. Many have turned to the Continue Reading
Senator Elizabeth Warren Proposal to Help Refinance Student Loan Debt Fails
Among the most prevalent debt carried by American adults is student loan debt. Student loan debt has become a major issue for the United States at has been a hot topic for our policy makers for the past several years. Measures to extend lower interest rates were recently passed to ease rising interest rates on Continue Reading
What Would Happen If Student Loans Were Dischargeable in Bankruptcy?
The senate just blocked a bill that would have stopped the interest rates on student loans from doubling to 6.4%. You can read more about it here: http://www.cbsnews.com/8301-503544_162-57430060-503544/student-loan-bill-fails-as-senate-gears-up-for-protracted-battle/?tag=contentMain;contentBody They are trying to find a way to solve the student loan issue because it is a large debt problem in the United States. You can read Continue Reading
Update on Bankruptcy and Student Loans
The general perspective on student loans and bankruptcy is that student loans are not dischargeable under the bankruptcy code. Previous to 1976, student loans were dischargeable in a bankruptcy and there are still some attorneys that advertise that they were able to discharge student loans in bankruptcy. For now, the reality is that student loans Continue Reading
Student Loans and Bankruptcy
We have received many inquiries regarding student loans and if student loans are dischargeable in a bankruptcy. The answer is complicated. In general, it is possible to discharge student loans in a bankruptcy, but there are very specific conditions, and it is very rare, nationwide, for a student loan to be discharged in a bankruptcy. Continue Reading