Student Loan Tax Elimination Act Introduced in Senate

A new bill in the Senate, the Student Loan Tax Elimination Act, would eliminate student loan origination fees on federal loans. If approved, the measure could save borrowers billions over the next five years. Supporters say that origination fees on student loans amount to a “hidden tax” on student loan borrowers. And since the Department […]

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 […]

Consolidation Loan Separation Act May Provide Relief to Victims of Domestic Violence and Abuse

Joint Consolidation Loan Separation Act Aims to Help Divorced Joint Borrowers Get Back on Their Feet. It seemed like a good idea at the time. Shannon DeBlieck and her then-husband used a now-defunct federal program to consolidate their separate loan amounts together into a single payment. She owed $4,000, and he owed $19,000. The balance […]

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 […]

The Trump Student Loan Plan – What It Could Mean For You

The Trump Administration released a series of education reform proposals this week that, if enacted, could have a substantial impact on college-bound students and student loan borrowers. The White House released the proposal as Congress prepares to reauthorize and amend the Higher Education Act. Both the Administration and Congress are grappling with a huge and […]