Tag Archives: student loans

I have been bugging Alan at Student Loan Justice to talk more about Student Loan interest, etc. accumulating on these loans. As you can see it is not unusual to accumulate more interest or other costs than the original loan amount. It is also not unusual for the servicer to collect interest before paying down the principal. These loans will be with these people forever and to their graves. I do not know of any consumer loans...

I have worked with Alan Collinge and Student Loan Justice Org. for at least a decade on student loan bankruptcy. This article was taken from the Tallahassee Democrat. This article has some numbers on who is impacted, which has been presented, and largely ignored here and other places. United States Senator Elizabeth Warren (D-Mass.) and Senate Majority Leader Chuck Schumer (D-N.Y.), and Congresswoman Ayanna Pressley (D-Mass.) led their colleagues...

Introduction to Bankruptcy Discharge for Student Loans I know the image on the right, my other right is small. To enlarge it, click on the picture. A plus sign may show up to make it even larger. I have been following the student loan crisis (and it is such) well over a decade. I have engaged certain politicians on the issue in public. I have worked with Alan Collinge at Student Loan Justice Org for well over a decade. He is in...

I was reading the commentary on student loan forgiveness since Joe Biden has said he would do something. It is not going to be $50,000 in forgiveness as Senators Warren, Sanders, and Schumer are pushing. Biden has said it is unlikely it will be this amount. Indeed, he suggested $10,000. The $10,000 might be worthy if we canceled all of the penalties, consolidation fees, and the excess interest along with the $10,000. If you are not aware, Joe...

Student Loan Cancellation will not Benefit the Wealthy, Alan Collinge, Student Loan Justice Org. Alan Collinge History In 1972, allegations about students abusing bankruptcy3 courts were beginning to make headlines. Major newspapers were publishing anecdotes about students who took out large college loans. Supposedly then, young graduates or students quickly declared bankruptcy to avoid paying them off. The Congressional Commission on Bankruptcy...

Alan Collinge’s Student Loan Justice Facebook page. I keep talking about how the consolidation fees, late fees, forbearance interest, etc. and the interest on the previous adds up over time. Pretty soon, it surpasses the original loan balance. There are probably worse examples of this occurring. As it is, the non-principal payments are more than twice the original principal. The original loan was $105,000. As you can see there is ~$81,000 in...

Naked Capitalism had an article up in the “Links” assortment of other articles taken from various sites. The Common Dreams article touched upon one of the topics I write about and have done so over the last decade – Student Loans and Alan Collinge’s Student Loan Justice Org. In my public discussions with Alan and his followers on Facebook, I have pointed out the $1.6 trillion or the $1.8 trillion as stated in this article are important numbers to...

Some State AGs Take Action Seventeen State Attorney Generals signed and sent a letter to Congressional leadership (Schumer, Pelosi, McConnell, McCarthy) calling on Congress (Friday February 19) to pressure President Joe Biden to cancel up to $50,000 in federal student load debt for borrowers as a part of pandemic relief. The AGs write: “As the Attorneys General of Massachusetts, New York, Connecticut, Delaware, the District of Columbia, Hawaii,...

Zero Hedge Household Debt Rises By $572 Billion, Ends 2017 At All Time High Tyler Durden