Author: Linda DiProperzio

Bipartisan Bill Tackles Student Loan Debt and Bankruptcy

Representative John Katko with Elise Stefanik and Richard Hanna visiting Fort Drum, New York.In an effort to help those who are dealing with financial hardship, namely those struggling with student loan debt, a bipartisan bill was introduced in Congress at the start of May that would allow student loan debt to be dismissed in bankruptcy.Renewing these efforts, Representatives Katko and Delaney introduced the bill in early May, dubbing it a bipartisan effort. This bill aims to ensure that student borrowers who file for bankruptcy wouldn’t be required to pay back their outstanding student loan debt and that lenders couldn’t send it...

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Bill Reintroduced to Help Private Student Loan Borrowers in Default

Congresswoman Shelley Moore speaking at the 2013 Conservative Political Action Conference in Maryland.Senators Shelley Moore Capito and Gary Peters reintroduced the Federal Adjustment in Reporting (FAIR) Student Credit Act, bipartisan legislation that aims to assist private student loan borrowers who default on their loans, according to a press release from Gary Peters.Unlike federal loans, which can be rehabilitated one at a time to repair a borrower’s credit, there are currently no options available for private student loan borrowers in default. FAIR, which was previously introduced in 2015, would allow a borrower who has steadily completed a series of on-time payments to...

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Fannie Mae Makes Crucial Changes to Help Student Loan Borrowers Obtain Mortgages

Fannie Mae headquarters, located in Washington D.C.Finally, some good news for student loan borrowers: New rule changes from Fannie Mae have been introduced. These new rules offer two solutions: one aims to help borrowers purchase a home and the other offers a “cash-out” refinance to pay off their student debt.With so many young Americans carrying student loan debt—and struggling to pay it off—purchasing a home is a dream that is nearly impossible to achieve for many affected borrowers. Not only is the idea of taking on yet another monthly payment daunting, but those with high debt-to-income ratios couldn’t get...

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Former Everest Students Might Be Eligible for Loan Forgiveness

One of Everest College's student parking lots.The U.S. Department of Education is in the process of contacting 5,700 former students who took out federal loans between 2011 and 2014 to attend the schools once owned by Corinthian Colleges, Inc. such as Everest College. During this time period, investigators found that Corinthian misrepresented its post-graduation employment rates for certain programs.Maila Bautista is one example of a student who believes she was deceived by Everest College. After borrowing $15,000 to attend Everest and graduate in November 2009, the former medical billing student worked as a receptionist in a doctor’s office. This new position...

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Waitress Receives Generous Tip from Couple Offering to Help with Her Student Loans

The Mai Tai Bar and Restaurant located in Hawaii, unrelated to the event below.A waitress in Hawaii had a day on the job that she’ll never forget after a couple visiting from Australia offered to help pay her student loan debt according to a story by Fox29.com.Cayla Chandara of Waikiki has been working two waitressing jobs, one at The Cheesecake Factory and the other at Noi Thai Cuisine, to support herself. Like many students around the country, she’s had difficulty handling the cost of tuition along with her bills. As a result, she had to drop out of school.Hawaii...

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