The top 17 things that happened in 2017 involving student debt

 


2017 was an eventful year with tragedies, natural disasters, and the increasing student debt crisis.  So we’re going to round up the top 17 things that happened in 2017 involving student debt.
The New Higher Education Bill removes oversight of student loan companies

The new Higher Education bill that was introduced could eliminate the protection of federal student loan borrowers. Currently the feds have control and set oversight requirements that protect borrowers. The new education bill would let loan providers set their own requirements and could lead to complete deregulation and remove safeguards that protect borrowers already suffering from massive debt. See more
Graduate students nationwide stage a protest upon hearing what could happen to their tuition

Imagine turning down a high paying job on Wall Street to attend graduate school and make an impact on social issues only to realize that halfway through your program the funds expected to pay for your education might be eliminated. Graduate students were in a panic when The House Bill was first released and learned their tuition would be going from free to them being thousands of dollars in debt.  See more
Colleges are starting to eliminate loans and giving grants that don’t have to be paid back

What would happen if colleges gave out scholarships that students don’t have to pay back? Starting in Fall 2018 students who attend Brown University and who receive financial aid will be provided with scholarships that will not have to be paid back.  See more
Celebrities are paying off student loans

If you’re on twitter at the right time Nicki Minaj might just pay off your student debt! Nicki Minaj helped a couple of her fans out and paid for their student loans after they tweeted her about needing help paying off their schooling. Minaj then proceeded to ask her fans to send her a screenshot of their grades and rewarded her fans who succeeded in school by helping them pay off their student loans. See more
In some states, if you are behind in paying for your student loans, you lose your professional license

How could one possibly pay off their student loans if their professional license is revoked? In some states, if you’re behind on student loan payments the state can take away your license which could result in being unemployed. Learn about how a nurse from Tennessee got her license revoked because she defaulted on her loans. See more
John Grisham’s newest Legal Thriller The Rooster Bar explores student loan debt and the people that profit from it

Student debt has been a huge topic nationally and now it’s the main subject in John Grisham’s new thriller The Rooster Bar. Three law students are duped into taking out massive amounts of student loans while attending a third-tier, for-profit law school, realizing just months from graduation that they are headed for disaster. Discover what their plan is to get out of debt and how they are beating the crisis. See more

 

How does Richard Cordray’s resignation from the Consumer Financial Protection Agency affect you?

Richard Cordray is one of the last members of the Obama administration to step down from his position as head of Consumer Financial Protection Bureau. This comes as a shock because Cordray’s term ends in the summer of 2018. The position as Head of Consumer Financial Protection Bureau has the highest authority to govern financial institutions, monitor and report on markets and track consumer complaints. See who Present Trump has in mind to take over this position. See more
Companies are starting to incorporate student debt repayment into their new hire benefits

Can companies offering a student loan benefit help fix the student loan debt crisis? Companies like Fidelity are starting to offer student loan benefit packages that companies can use to recruit and retain employees with student debt. They are seeing a positive turn out and it could be a permanent benefit that companies offer to attract the right talent. See more
Betsy Devos is in hot water

Can you imagine having a loan from an unaccredited university and waiting for your loan to be discharged but not hearing anything?  Education Secretary Betsy DeVos has been under an immense amount of pressure to take action on thousands of federal student loan forgiveness applications. Attorney General Xavier Becerra sued DeVos for not processing 50,000 debt relief claims.  See more

 

Recent surveys show that student debt borrowers would give up voting, traveling, etc. to get their student loans paid for 

Would you give up your right to vote in the next two elections if that meant you’d be debt free? More than half of students would give up the right to vote if that meant getting their student debt paid off. See what your colleagues would give up if it meant getting their loans paid off. See more

 

Obama administration admits it got student loan data wrong

The Obama administration’s College Scorecard Department has admitted to coding errors found in inflated college repayment rates which could have misguided students with their loans. The College Scorecard helps students with information about their financial future when they are graduating from college. See what this error could mean for your student and future loans See more
A plan to decrease student debt by using social security funds to pay for student loans

Would you prolong retiring if it meant you could get your student loans paid off using your social security? Representatives have proposed the idea of using social security to pay off student debt. Learn how this could impact your work life and if this is a decision you should choose.  See more
Bills H.R. 795 and H.R. 108 introduced to help with the student debt crisis

Would you stay with a company because they provide a student loan benefit package? There are two bills that the House introduced in 2017 that would allow companies to get tax credits when they help pay the student loans of their employees. These programs would allow companies to write off student loan repayments and require companies to offer a student loan benefit package. See more
How college tuition has drastically increased over the years

Did you know that college has increased 161% since 1987 and is projected to keep increasing in the foreseeable future? In 1987 students could pay for their university cost with a part-time minimum wage-salary. See how college tuition has changed over the years and how much it’s projected to increaseSee more
The high school class of 2017 missed out on 2.3 Billion dollars of free college aid

2.3 billion in college tuition money went unclaimed by the high school class of 2017 because a majority of them didn’t fill out the Free Application for Federal Student Aid (FAFSA). Approximately 1.2 million high school students skipped filling out the FAFSA application and 648,191 were eligible for the Pell Grant which doesn’t have to be repaid. See how much money the class of 2017 missed out and how you can benefit. See more
Baby boomers are the fastest growing age group with student debt

The student loan debt crisis doesn’t just impact students who have attended or graduated university in the past thirty years. Baby boomers are also impacted by the student debt crisis because they’re taking out or cosigning loans for their children to attend university. See how the student debt crisis is impacting everyone in the education system. See more
Student loan providers help hurricane-affected student loan borrowers

Imagine trying to cover the cost of everything you lost from Hurricane Harvey and also trying to pay off your student loans. Students were relieved when their loan providers offered to stop making payments temporarily while victims of the hurricane got back on their feet. The government was more proactive about protecting their borrowers after Harvey. See more

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