Student Loan Problems

  • Older Americans Increasingly Impacted by Student Loan Debt

    … Last year, economists at the New York Federal Reserve released an analysis showing that older Americans were significantly more in debt than in previous years. While this might not be that surprising given the aging population in the United States, a source of the debt might be less obvious: student loan debt. The analysis compares average debt…

    Kathryn Davis/ Bond and Botes- 20 readers -
  • Tips to Avoid Student Loan Repayment Traps

    … I previously wrote a series of blogs addressing issues with student loan debt. As previously mentioned, student loan debt has now surpassed a trillion dollars in this country. Now the Consumer Financial Protection Bureau has filed a lawsuit against one of the nation’s largest student loan servicers, Navient. In the suit CFPB has alleged…

    Bond and Botes- 15 readers -
  • Former Students Seek to Become Creditors in ITT’s Bankruptcy

    … can visit the information page that Harvard Law School set up. Student loans are such a large burden for many of our clients. If you need to speak to an experienced attorney about your student loans or any debt problems you may be having, please contact one of our offices to set up an appointment. The post Former Students Seek to Become Creditors in ITT’s Bankruptcy appeared first on Bond & Botes. …

    Kathryn Davis/ Bond and Botes- 16 readers -
  • Rising Student Debt and Suggestions for Change

    … According to “Student Debt and the Class of 2015’” the latest report from the Project on Student Debt, about seven in 10 (68%) college seniors who graduated from public and private nonprofit colleges in 2015 had student loan debt. The average graduate owed $30,100, which is up 4% from the 2014 report. Almost one-fifth of the Class of 2015’s…

    Kathryn Davis/ Bond and Botes- 26 readers -
  • College Students Use Student Loans to Supplement their Lifestyle

    … A recent survey conducted by Student Loan Hero, as reported by CNBC, has found that many college students are using some of the student loan money to pay for expenses other than tuition and books. The survey conducted in September 2016 of over 1000 students, reports that 2 in 5 students who receive student loan funds use those funds to pay…

    Amy Tanner/ Bond and Botes- 21 readers -
  • Can A Chapter 13 Help with My Student Loans?

    … be reviewed with your attorney on a case by case basis. Paying some or all of your student loan debt through a chapter 13 can be a benefit to you in the long run as compared to long term deferments of payment that can result in a mountain of interest accrual on the debts. If you are having problems with your student loan debt or need to discuss any…

    Amy Tanner/ Bond and Botes- 32 readers -
  • CFPB Takes Action Against Illegal Student Loan Servicing Practices

    … On August 22, the Consumer Financial Protection Bureau (CFPB) took action against Wells Fargo Bank for illegal private student loan servicing practices that increased costs and unfairly penalized certain student loan borrowers. The Bureau identified breakdowns throughout Wells Fargo’s servicing process including failing to provide important…

    Bond and Botes- 15 readers -
  • Discharge of Student Loan Debt Possible in Bankruptcy

    … hardship must continue for a significant portion of the repayment period , and the borrower has made a “good faith” effort to repay the loan. Permanent Disability Borrowers with a permanent disability may qualify for an administrative discharge through the U.S. Department of Education without a court proceeding. However, an application must…

    Robert Reese/ Bond and Botes- 32 readers -
  • When Can Student Loans be Discharged in Bankruptcy?

    … loan debt can be discharged. Note that it is rare for a court to find that a debtor meets this burden. Undue Hardship The section of the Bankruptcy Code that deals with student loans and the discharge is 11 U.S.C. § 523(a)(8). Congress enacted this section of the Bankruptcy Code to prevent students from abusing the fresh start principle of bankruptcy…

    Kathryn Davis/ Bond and Botes- 24 readers -
  • Student Loan Payment Options

    … Student Loan Payment Options Posted on May 27, 2016 By Amy Tanner May 27, 2016 by Amy Tanner Student load debt is becoming an increasingly big problem for consumers across the country. With the high price of tuition, it is quite common, almost necessary, for the majority of students seeking higher education to incur some student loans. If you…

    Amy Tanner/ Bond and Botes- 27 readers -
  • Student Loan Debt in the U.S. Considered a “Crisis” Since 2008

    … Student Loan Debt in the U.S. Considered a “Crisis” Since 2008 Posted on Mar 04, 2016 By Amy Tanner March 4, 2016 by Amy Tanner What happened in 2008 for the mounting student loan debt to be called a “crisis”? According to a recent article published by Forbes, the term “crisis” was used shortly after the onset of the Great Recession of 2008…

    Amy Tanner/ Bond and Botes- 36 readers -
  • Can You Be Arrested for Owing a Student Loan?

    … Recently, a Houston resident made national headlines for his claim of being arrested over a $1,500.00 student loan debt that he incurred in 1987. Several media outlets reported that the U.S. Federal Marshals came to his home in full combat gear. This occurred after he allegedly told a Marshal who had stopped by his home earlier that he had a gun…

    Gail Donaldson/ Bond and Botes- 37 readers -
  • Student Loan Delinquency vs Default – The Difference

    … As it happens there is a significant difference in being delinquent in repaying a student loan and being in default in the repayment of a student loan. There is a further difference between delinquency and default for federally issued or guaranteed student loans and private student loans originating from commercial lenders, as well…

    Carla M. Handy/ Bond and Botes- 36 readers -