Author: Nicolas Chee

Arizona Man Sentenced to 15.75 Years in Prison for Online Dating Scam

More than one woman was defrauded by a scammer who was lying about his career on online dating sites.On August 11th, Arizona state Attorney General Mark Brnovich announced that Daylon Pierce received a prison sentence of 15.75 years after taking advantage of women and their money through an online dating scam. One of his methods played on student loan anxiety.Pierce, from Scottsdale, Arizona, pleaded guilty to two counts of fraudulent schemes and artifices. Pierce, who also operated under the name Daylon Jung, signed up for multiple dating sites including Match.com, Tinder.com, and PlentyOfFish.com and engaged in romantic behavior with...

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Navient Acquires Transportation Revenue Management Company Duncan Solutions

Jack Remondi, President & CEO of Navient, sitting with former Delaware Governor Jack Markell at a press conference in 2015. Navient, the largest student loan company in the United States, announced it recently completed an $80 million acquisition of Duncan Solutions, a transportation revenue management company, on Tuesday, August 1st, according to a press release issued by Navient.Duncan Solutions is a transportation revenue management company that serves both municipalities and toll authorities. For Navient, the $80 million acquisition signals yet another diversification of the company’s asset portfolio. While student loan servicing is the company’s cornerstone business, Navient is also a...

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SoFi Loses Another Senior Executive

Michael Tannenbaum, formerly the Chief Revenue Officer of SoFi, has parted ways with the online personal finance company.SoFi, the online personal finance and student loan juggernaut, confirmed on Friday, July 21 that Chief Revenue Officer Michael Tannenbaum has departed from the company, according to TechCrunch.Michael Tannenbaum joined SoFi in 2014 as the Vice President of Finance. Tannenbaum rode the fast track up the company ladder over the past few years, and when SoFi branched out from student loan refinancing to tackle the mortgage industry, Tannenbaum was put in charge of that business.Tannenbaum’s most recent and final role with SoFi...

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New Report Finds Student Debt is Significant Factor in Homeownership Decline

A study by the Federal Reserve Bank of New York reasoned that student debt is partially to blame for declining homeownership rates in the U.S. The Federal Reserve Bank of New York released a July report that pointed to student debt as one of the main contributors to the decline in homeownership across the United States.In regards to homeownership and student debt, the report found that rising student debt and tuition is responsible for between 11 and 35 percent of the approximate 8 percent decline in homeownership. The decline in homeownership referred to consumers ages 28 to 30 and between...

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City Councilman Proposes Program That Will Offer Student Debt Relief to Those Who Buy a Home in Pennsylvania

The city of Pittsburgh and Councilman Corey O'Connor proposed a student loan debt relief program tied to buying a home in Pennsylvania.On Tuesday July 11, Pittsburgh City Councilman Corey O’Connor introduced a Will of Council that would offer student loan debt relief to those who purchase a home in the city of Pennsylvania.The program is intended to help those who struggle with repaying their student loans, while simultaneously improving the real estate market in the Keystone State.In a statement to WPXI 11 in Pittsburgh, Councilman O’Connor said the following, “You can talk to almost anyone on the street, a...

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