Tag Archives: student loans

Avoiding the PSLFiasco: Part Three

Avoiding the PSLFiasco: Part Three

In our last posts, we gave recommendations for the Department of Education as it heads into the first year of granting forgiveness to public service employees who fulfill the requirements of the Public Service Loan Forgiveness program, and recommendations to improve outreach, including tips for borrowers. But those questions are only a part of the […] … learn more→

Avoiding the PSLFiasco: Part One

Avoiding the PSLFiasco: Part One

This fall, for the first time ever, borrowers who have made 120 qualifying payments can avail themselves of the Public Service Loan Forgiveness program (PSLF) to eliminate their remaining federal student loan debt. Ahead of its implementation, we’ve drafted some recommendations to ensure smooth sailing and a better, more targeted program. This post, detailing recommendations […] … learn more→

Ultra spiritual parody: Higher Education

Ultra spiritual parody: Higher Education

Ah, it’s summer time, the days when the perpetual deadlines during the semester don’t exist. It also means the insanity slows down a bit, so I have time for less serious things. Ultra Spiritual Life is a series of parody videos by a YouTube user with account name AwakenWithJP. The videos vary from beyond hysterical […] … learn more→

Most students borrow for college, but are they financially literate?

Most students borrow for college, but are they financially literate?

August is here, and many families are preparing their children for the next academic challenge – a college education. By and large, a college degree is viewed as an important credential for gainful employment and professional success. At the same time, college is costly, and college financing strategies are complex. Students and their families use […] … learn more→

Campus criminality: 40% of debtors weren’t educated about loans

Campus criminality: 40% of debtors weren’t educated about loans

Time and again I’ve claimed that many of our institutions of higher education, whether state, non-profit, or for-profit, are basically scams that exist only to suck students in, fleece them of their student loan money, and spit them out. I’ve backed up my claims with extensive documentation, from community colleges run almost completely fraudulently (yes, […] … learn more→

Why are borrowers taxed on forgiven student loans?

Why are borrowers taxed on forgiven student loans?

Four million. That’s the number of borrowers enrolled in income-based repayment plans, where a borrower pays a share of her income for a set number of years after which any remaining balance is forgiven, and enrollment has more than doubled since 2013. These plans, which President Obama mentioned as a major success of his presidency […] … learn more→

Student loans as wealth transfer

With tens of millions of people now being victims of student loans, the country is finally starting to ask “Who created the victims?” A recent article examines how the student loan scam has transferred wealth from human beings that can’t afford to lose their wealth, but fails to manage to find any human beings responsible […] … learn more→

In praise of Federal loans for College

The outcry over the growing burden of Stafford student loans is loud and getting louder. A recent Wall Street Journal article characterized it as \”a hot issue in the 2016 presidential race as contenders float proposals that rethink what college should cost and who should foot the bill.\” Those proposals are likely to involve recommended […] … learn more→

What does income-based repayment for student loans cost?

What does income-based repayment for student loans cost?

The latest figures are out from the Department of Education and the share of borrowers using Income-Based Repayment (IBR) to repay federal student loans is rising rapidly. It now stands at 28 percent of Direct Loan balances in repayment. Naturally, many want to know what this program costs. That isn’t an easy number to come by, although […] … learn more→

Student debt 101: dearth of data fuels common misperceptions

As this year’s crop of college graduates don their caps and gowns and listen to inspiring commencement addresses before embarking on uncertain futures, they’ll also hear a lot about the consequences of the large debts most of them amassed attaining a degree. Such as: student loan debt is a drain on the economy. Debt prevents […] … learn more→