According to an article in the Dallas Morning News, Parents who invested in Texas’ prepaid tuition plan to pay for their child’s education and avoid student loans may be out of luck after November 30, 2009. On November 30th new rules governing the program take effect that will change the way the Texas Guaranteed Tuition [...]

According to an article in Forbes, the U.S. Supreme Court will listen to oral arguments for and against the discharge of student loans in bankruptcy.  The debate will center around the Chapter 13 bankruptcy case of Francisco Espinosa who was able to obtain a partial discharge of his student loans in bankruptcy. That discharge was [...]

Private student loans have been in the headlines lately with government efforts to restrict them and make them eligible for bankruptcy discharge. But what isn’t being talked about is the fact that private loans are often the last resort of desperate students who can’t find money anywhere else for their education.  Normally, students looking for [...]

According to an article in the Dallas Morning News, credit card companies are already backing down from marketing to youth under 21 years old as the new Credit Card Act is set to become law in Spring 2010.   The Credit Card Act will prohibit credit card companies from lending to anyone under 21 years old [...]

Student loans are almost impossible to discharge in bankruptcy, with exception of undue hardship as most graduates who have fallen upon hard times have eventually discovered.  But according to an article in Inside Higher Education, legislators are now moving to consider altering the bankruptcy code to change the way private student loans are treated [...]

According to an article in the Dallas Morning News, Texans are defaulting on their student loans at an alarming rate.
The article said:
“In Texas, 9.3 percent of borrowers defaulted on their federal student loans last year – the highest rate in nearly a decade. Only Arizona had a higher rate, 9.8 percent. The national average [...]

According to an article in Reuters, the U.S. House of Representatives approved legislation last week that would cut major banks and student loan giant Sallie Mae out of a large slice of the $92 billion university student loan business if passed by the Senate.  Under the bill H.R. 3221 –the Student Aid and Fiscal [...]

There’s an interesting article in the Star-Telegram about the increase in the number of peer-to-peer loans for college students.  The author cites a contraction of student loan lending and restrictions on credit card lending to students as a major factor contributing to the uptick in the number of peer-to-peer loans amongst college students.
The article [...]

In the bankruptcy case of Robison, Christopher D.; In re (Robison v. Kentucky Higher Education Student Loan Corp., et al.), the bankruptcy court ruled that the debtor’s student loan was nondischargeable and that the debtor’s mental illness was not enough to qualify as a hardship.
The details of the bankruptcy case:
The Chapter 7 bankruptcy debtor is [...]

We’ve all heard the saying that the best offense is good defense.  The same goes with student loans.  The best offense is to be defensive in applying for student loans.  Historically, students and parents borrowed money for a majority of college expenses. However, over the last two years, more parents and students are become more [...]

Many people ask me about discharging student loans when they’re looking into filing for bankruptcy.  Typically, student loans aren’t discharged during bankruptcy proceedings.  It’s not impossible to accomplish if you can show that paying the student loan debt “will impose an undue hardship on you and your dependents”.  Bankruptcy judges use various tests to determine [...]

Repairing your credit by reviewing your credit report.
Graduation from high school or college usually comes with a relief that you no longer have to struggle to “make the grade.”  That bubble bursts, though, when we discover that our credit report essentially serves as a continuing report card.  Once your credit GPA drops, it can be [...]