Author: Douglas James

Advertisements Make False Claims About Obama Loan Forgiveness Program

Misinformation has long been a problem for those needing financial relief. In the world of student loan debt, there’s plenty of companies and organizations that look to exploit those ignorant of their options, just as there are many who genuinely want to help. Recently, a new wave of exploitive programs attempts to charge students for free services. Under what was advertised as “Obama’s new loan-forgiveness program,” graduates and students were provided information at a cost. However, not only does the latter program not actually exist, the information sold can readily be found at the Department of Education’s main website....

Read More

Minnesota Establishes SELF ReFi Program for Graduates

Graduates from Minnesota are catching a break. The state recently released a refinancing plan that will help manage loan debt for those with high-interest loans, providing much needed path forward towards cutting away at the $1.4 trillion in student debt. Typically, during repayment students have several options to manage their monthly bills, but not all are a perfect fit. In some cases, interest rates at the time of borrowing may have been relatively high, leaving individuals with payments they couldn’t make. To help with this, some programs offer refinancing to consolidate student loans with new terms such as lower...

Read More

New Jersey Loan Programs Under Hearing

New Jersey’s student loan programs will face a hearing today regarding its collection practices towards debtors. This hearing has come to light over public complaints and reports of aggressive actions taken by state backed loaners and the HESAA (Higher Education Student Assistance Authority). Both the chief administrator of New Jersey’s loan program and HESAA’s executive director – Gabrielle Charatte – are invited to the hearing. Additionally, students and advocates for protection rights are also expected to appear for comments related to the various collection practices. The hearing will take place at 1PM for a several hour period in Trenton....

Read More

Student Loans Contributing to Negative Wealth

Financial challenges are part of everyday life for the regular citizen in the United States. From utility bills to personal expenses, balancing the budget is normal. However, when student loan debt is thrown into the mix, things get problematic. Most are familiar with the heavy weight of paying back tuition costs. Today, a student will graduate with an average of $28,000 in debt. Interest rates vary and there’s no guarantee the student can find a job within their preferred field, meaning the age of the debt could lengthen. All this leads to a bigger problem: negative wealth. Negative wealth...

Read More