Feds May Crack Down on Student Loan Fraud

This here is why we can’t have nice things. At least two of ‘y’all tried to reduce your monthly student loan payments by reporting a household size of 93. And the federal General Accounting Office is calling BS. That’s one of the more egregious findings from a recent GAO report. The gist: Thousands of student […]

Disabled Veterans May Receive Automatic Student Loan Forgiveness Under New Bill

‘FREED Vets Act’ Would Provide Average Benefit of $24,000 in Loan Forgiveness Per Eligible Disabled Veteran Nearly 34,000 disabled veterans may receive automatic and total forgiveness for federally-guaranteed student loans. That’s the object of new legislation introduced in the House. The bill, entitled the Federally Requiring Education Debt Discharges for Veterans Act, or FREED Vets […]

Joe Biden and His Controversial History With Student Loans

Under current law, federal student loans are generally not dischargeable in bankruptcy. Borrowers have Joe Biden to thank for that. In contrast, most other forms of consumer debt can be discharged through the bankruptcy process.  Only a limited number of debts, such as child support payments, alimony, overdue taxes, and criminal fines, are non-dischargeable. But […]

You Could Soon Use a Section 529 Plan To Pay Off Student Loans. Here’s Why That Might Be a Bad Idea.

You may soon be allowed to use Section 529 plans to pay up to $10,000 in student loan debt. Earlier this month, the House Ways and Means Committee unanimously passed a bill called the SECURE Act. That is, “Setting Every Community Up for Retirement Enhancement.” Among other things, this bill expands Section 529 plans to include […]

Sen. Elizabeth Warren’s Student Loan Forgiveness Proposal

The student loan crisis is taking center stage in the 2020 presidential election campaign.  The numbers are attention-grabbing: student loan debt is now the second biggest form of outstanding consumer debt. With more than $1.5 billion in student loans debt outstanding, education debt eclipsed credit card debt almost a decade ago. Only mortgage debt is […]