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Cracking Down on Abusive Debt Collectors

Have you ever picked up your phone to find an aggressive voice on the other end demanding payments on a debt you know nothing about? You’re far from alone. Once you’re in the sights of a debt collector, the impact on your life can be devastating: Your wages can be garnished and your credit ruined. You might lose your driver’s …

debt

Mary Green Swig, Roger Hickey & Steven Swig – One In Eight Americans Burdened By Student Loan Debt, Including 700,000 Seniors

It will not be news to 41 million Americans that this nation is in the middle of a student debt crisis. That’s the number of people burdened by student loan payments. But many people, including many student debt holders, may be surprised to learn that people can be pursued for student debt even into their elder years. In fact, the …

student loans

Obama Admin Will Forgive Up To $3.6 BILLION In Student Loans By Blake Neff

The Department of Education announced Monday that it is implementing a plan to forgive as much as $3.6 billion in student loans given to students attending schools affiliated with the defunct for-profit college chain Corinthian Colleges. Corinthian was once one of the biggest players in for-profit colleges, but abruptly fell apart in 2014 amid accusations that it was inflating graduates’ job placement …

Student debt

The Student Loan Crisis and the Debtfare State – Susanne Soederberg

“Framing private educational lending as a consumer protection issue makes it seem as if the root cause of the student debt problem is the predatory practices of private educational lenders, distorting the role of the debtfare state,” writes Soederberg. In fact, federal government “has played a critical role in the construction and normalization of students’ increased reliance on loans—both public …

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Wall Street Vampires – Paul Krugman

Last year the vampires of finance bought themselves a Congress. I know it’s not nice to call them that, but I have my reasons, which I’ll explain in a bit. For now, however, let’s just note that these days Wall Street, which used to split its support between the parties, overwhelmingly favors the G.O.P. And the Republicans who came to power this …

studentbillofrights

The fraud of Obama’s “Student Aid Bill of Rights”

Last week President Obama announced a series of executive actions that he dubbed a “Student Aid Bill of Rights.” The initiative is partially an exercise in damage control. It follows a series of lawsuits and scandals involving the Department of Education (DOE). The government agency has become the target of growing anger for protection of predatory student loan collection agencies, …