Thursday, January 20, 2022

Tag Archives: Student Loan Related

Why It Costs Way Too Much to Go to College

During my years at the University of Houston, I parked my modest Honda in the faculty parking lot next to other modest cars driven by UH professors–mostly Hondas, Toyotas, Nissans, and Fords. Then I would walk through the parking lot reserved for administrators, and all the vehicles were luxury cars: Audis, Lexuses, BMWs, and expensive SUVs. Those cars reminded me …

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Why the Government Can’t Forgive All Student Loans

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When Joe Biden was running for President, he said he would cancel $10,000 of every college borrower’s student debt if Congress consented. But Congress hasn’t acted. Senators Elizabeth Warren and Charles Schumer have urged President Biden to cancel $50,000 of every borrower’s federal student loans, saying he has the executive power to do so. But that hasn’t happened either. Why …

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Student-Loan Repayment Moratorium Goes On. Will it Ever End?

Don’t lend money to a friend, an ancient proverb advises, because you will lose both your friend and your money. My cousin Rudy taught me that lesson. A couple of years ago, Rudy called me from the Travis County Jail in Austin, TX, asking me to go his bail. I can’t remember why the Texans locked him up. I think …

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Aidvantage Advice Already Dubious

Aidvantage is the new name of Maximus Education that is taking over servicing millions of student loans after Navient said it wanted out. I dropped into the Aidvantage website this morning to see if there are any updates and I was disappointed to see the advice given. We are not off to a great start. Let the spin begin. Aidvantage …

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Enough is Enough With Student Loan Forbearance

Quite a few country songs are about guys who made a big mistake when they were young and went to prison. Merle Haggard tells a story about a man who “turned 21 in prison, doin’ life without parole.” George Jones eulogizes a wretch who spent eighteen years in the slammer “and still has life to go.” And Porter Wagner sings …

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Private Student Loan Debt at All-Time High – Until Tomorrow

According to a recent report by the Institute for College Access and Success (TICAS), the 2020 class of college graduates has amassed $136 billion in private student debt. When this amount is added to the total student debt from federal student loans–about $1.8 trillion, Americans are on the hook for almost $2 trillion in student debt. Interestingly, students in the …

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Thinking of Law School? Prepare for Financial Guilt and Regret

If you are thinking about going to law school, you should read a recent report titled “Student Debt: The Holistic Impact on Today’s Young Lawyers.” According to the ABA’s Young Lawyers Division, 90 percent of young lawyers who responded to an ABA survey said they had taken out student loans to finance their legal education. On average, these young attorneys …

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When Do You Have To Start Paying Back Student Loans?

The student loan repayment process may have a varied start date, depending on the type of loan you have borrowed. Most federal student loans have a six month grace period in which borrowers are not required to make payments on their student loans. The terms on private student loans are set by individual lenders, and they may or may not …

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