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July 22, 2011

10 Ways Student Loan Lenders and Collections Agencies Violate the Law by Adam Minsky

Adam S. Minsky, Esq. is a Boston lawyer who concentrates his practice in student loan law.   Thanks for this Guest Post, Adam! When student borrowers fail to pay their student loan bills for any reason, lenders will try to get them to pay. The longer the borrower doesn’t pay, the harder the lender will try. Sometimes, the lender will hire a collections agency to pursue a student borrower who is in delinquency or default, and often these agencies will use aggressive, intimidating, deceptive, or irritating tactics. The federal Fair Debt…

By Heather  |  Category:  Student Debt, Student Loan Repayment  

July 14, 2011

Republican Plan to Increase Student Loan Debt Exasperates President Obama

When a student borrows a subsidized loan, the federal government pays the interest that adds up while the student is still in school.   An end to the interest subsidy would mean that low income students would graduate with more debt.  Yesterday at the White House, Republican majority leader Representative Cantor called for an end to the interest subsidy.  The Daily Beast reports that when Representative Cantor called for students to be responsible for the interest that accrues on their student loans while still in college, President…

By Heather  |  Category:  Student Debt  

July 13, 2011

The Secret to Safer Student Loan Borrowing, MKay?

There is broad consensus that private student loans should be considered only as a last resort.  It’s just not that complicated.  “Private student loans are bad, mkay?” Substitute the phrase “private student loans” whenever Mr. Mackey says “drugs” and “alcohol” in this classic South Park bit, and you’ll catch my drift.   Ike's Wee Wee Tags: SOUTH PARKmore...   Many student and parent borrowers aren’t getting the message Students borrow billions in private loans…

By Heather  |  Category:  Student Debt  

July 11, 2011

Share Your Student Debt Story and You Could Win $5000

I come from a long line of uneducated intellectuals.  My sister and I are first generation college graduates.  My parents never had money; it was student loans or nothing for us. I borrowed $125,000 to pay for my legal education.  Here's how that feels: I drive a Honda with 175,000 miles on it because I can afford it. I’ll be borrowing to help pay for my children’s educations long before my own student debt is retired. My monthly student loan payments are comparable to my monthly rent payment. I’ve been making…

By Heather  |  Category:  Student Debt