Tag Archives: student loans

Recently, The American Prospect‘s David Dayen’s introduced us to a new student loan system. A new program implemented for income driven based repayments (IDR). It requires lesser payback amounts and shorter a time period than the of 25 years to pay back. Unfortunately, a person would still be in their mid-forties if everything works out as planned. No restraints on tuition yet having the freedom to grow. There is a question of whether earlier relief...

“Student loan repayment pause extended while waiting for debt relief,” (qz.com), Ananya Bhattacharya Student loan repayments were set to restart in the new year of 2023 if not forgiven. Another six more months breathing room has been granted before those repayments start again. The US Department of Education (DoE) announced the extension on November 22. The original moratorium was to coincide with the Biden administration’s student loan...

The little weasel Miguel Cardona has a grin on his face. They have been screwing these people over for decades. Department of Education did not check the fine print for FFEL loans. And now that Mohela said they will lose money, they yank the carpet out from under 800.000 people. God forbid they screw over a Federal Loan Servicer. What is Mohela: MOHELA has worked with student loans for several decades as a private lender. It has been a...

Alan Collinge at Student Loan Justice Org. is showcasing on Facebook various people who still have student loans even after the small loan relief. With these student loan holders, the ten or twenty thousand will go to fees, interest, and penalties as they exist or as rolled into loans. Very little (if it does) will touch the loan origination amount. The funds become gifts to the loan industry which originated the loan or the present holder of these...

All the delays in getting to this point. I certainly was not fooled. Biden has an extensive history of believing students will renege on their loans, when there was no evidence to support his contention early-on. By early, let go back to 1978 (link is provided). I have added other Angry Bear links to build a foundation for my words. Amateur Socialist brought up a point at Naked Capitalism, which makes sense: Reading through the comments I’m...

The Good Note this one on your calendar, the court gets it correct. Just when you think SCOTUS will raise its ugly right-wing head again, it decides differently. I can’t tell you what the votes were for and against. This is an unsigned decision. Mabe the one who ratted on the SCOTUS-Alito’s anti-abortion decision will give us a hint? Haven’t heard much from Ginni Thomas as of late. “Supreme Court issues rare emergency order favoring voters...

As you “should” know by now, Alan Collinge is an activist and has organized the Student Loan Justice Org a number of years ago. The Organization attempts to represent those student loan borrowers who have no recourse for forgiveness or bankruptcy as every other person in the nation has when taking out a loan? Alan and his thousands of followers having gathered well over 1 million signatures on a petition seeking relief from these loans. The...

That coming from Alan Collinge of Student Loan Justice Org. I have been writing about him, his supporters and followers, his Org. Student Loan Justice, and the government’s response to student loans for a decade now. This is news, facts, etc. about 45 million people in 2022 and not some anecdote. The post title comes from Alan Collinge’s* article in an email to me after I sent him this article, surprisingly originating in the New Yorker....

“Who got rich off the student debt crisis?” – Reveal (revealnews.org), James B. Steele and Lance Williams A bit of a story of how we got to this student loan debt debacle. It is long, tedious, and not exciting. And this is only part of it. In 2016, 42 million people were owing $1.3 trillion in student debt. It is or was a profit center for Wall Street and also the government. I suspect Wall Street still gets its cut from student loans. Their...

“Teacher With $303K Student Debt Says Biden’s $10K Relief Plan Not Enough” (businessinsider.com) Finally, I am seeing various publications (Business Insider, etc.) writing about accrued interest on student loans. Interest on the principal and also the interest. This particular article also touches upon Deferred Student Loans and the resulting paying the interest first before touching principal. This is much of what I have pointed out previously...