Extended dependent healthcare coverage for unmarried children up to the age of 26. Under the health care bill, as of September 23, 2010 (if all goes as planned) many youth will have access to their parents' healthcare coverage through college and even afterwards during a time when many college graduates struggle financially. In recent years [...]
Private student loans are a hot topic right now in the news and in the legislature. Currently, some lawmakers and consumer advocate groups are fighting to make private student loans dischargeable in bankruptcy like other unsecured consumer debt such as credit cards; but there is a lot of resistance. Right now private student loans, which [...]
Student Loan Debt After Bankruptcy Like child support obligations and some types of taxes, student loan debt will most likely survive your bankruptcy filing unless you can prove that repaying them will cause an undue hardship. So how does a debtor get a fresh financial start after bankruptcy even if they still need to repay [...]
The government just released a report saying that 7 out of 10 high school graduates will go on to college. That's up from 6 out of 10 in 2001. Unfortunately, while the number of entering college freshmen has increased, the cost of tuition for both state and private universities is steadily rising. What this means [...]
The "Private Student Loan Bankruptcy Fairness Act of 2010" was introduced in the House on April 15th and if passed into law, it could make it easier for debtors who have private student loan debt to discharge that debt in bankruptcy. Currently, it is nearly impossible for debtors to discharge their student loans in bankruptcy; [...]
Sallie Mae announced that a new law cutting out private lenders in the federal student business and stricter underwriting rules for private student loans will cost the company 2500 jobs. The law strips the middleman role in student lending away from banks. It's expected to save at least $60 billion in fees that went to [...]
The House and Senate are reviewing legislation that could allow bankruptcy courts to treat private student loans like other unsecured debt such as credit cards, which could mean that borrowers would have the ability to discharge private student loans in bankruptcy. Currently, both private and government backed student loans are treated like other hard to [...]
In the Chapter 13 bankruptcy case of Parrott, Gregory S. and Karen S.; In re, the bankruptcy court refused to confirm the debtors' repayment plan saying that the debtors unfairly treated the student loans as long-term debt to the detriment of unsecured creditors. The details of the bankruptcy case: The Chapter 13 debtors' plan proposed [...]
In the Chapter 13 bankruptcy case of Cassim, Jennifer D.; In re (Cassim v. Educational Credit Management Corp.), the 6th U.S. Circuit Court of Appeals ruled that a Chapter 13 bankruptcy debtor did not need to wait until the end of the case to ask the bankruptcy court to determine whether their student loans would [...]
In a bill that is suppose to address the current health care issues facing the country there are a few surprises for debtors struggling under the weight of student loans. As of July 2010, all new federal student loans will be issued directly from the U.S. Department of Education, cutting out banks as middle-men. This [...]