… of bankruptcy filings caused by medical debt is not known, a study conducted by researchers at Harvard Law School, Harvard Medical School and Ohio University examined bankruptcy cases for 2007 and concluded that nearly two out of three bankruptcies in the nation stem from medical bills. And that’s before the economic crisis.

Tags: Bankruptcy Harvard Law School Health insurance Insurance

Faced with a dire economic situation, the Kansas City School District is considering closing 30 schools.

 

In bankruptcy news, the Kansas City School District is said to be on the verge of bankruptcy unless major changes are made.  On Tuesday February 16 th, the district held meetings letting parents know that the district is considering closing 30 schools within the district.  Hundreds of people showed up to hear the news, and the …

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If a debtor’s delinquent school tuition is discharged in bankruptcy, the college/university is prohibited from refusing to release the debtor’s transcript/diploma.  Most of us know that student loans are nearly impossible to discharge; but school tuition is not typically considered a student loan and can be discharged during bankruptcy.

For example, if a debtor who was paying tuition at a University, dropped …

Permalink: /student-loans/school-transcripts-cannot-be-held-ransom-after-bankruptcy-discharge/

There’s an interesting article at USA Today about the affects of the foreclosures crisis on school district funding nationwide.

The article said:

Census data show the districts’ education budgets also are especially reliant on local property tax revenue, which is likely to slide at a time when thousands of residents in the districts are losing their homes and falling off the property tax rolls.

As foreclosures rise, property tax revenue declines significantly. And for …

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According to an article in the Star-Telegram, the opening of a new school in the Crowley district is on hold indefinitely. Basically there isn’t enough money to open the school and pay for the teachers and other school staff needed.

The article said:

"Driving by those buildings every day is a painful reminder of the failed state funding formula," said Greg Gibson, the Crowley district superintendent. The intermediate schools "were …

Permalink: /breaking-news/texas-school-district-cant-afford-to-open-school/

… need to seek bankruptcy relief? Probably a lot more.

A study conducted by two professors from Harvard Law School and Ohio University, found that personal bankruptcy has now become a largely middle-class phenomenon. Most of those bankruptcy filers have a college education and own a home.  The study says that college education and home-ownership can no longer be depended on to protect Americans from financially hard times as was the case in years past.

… It’s a good thing that Michigan sent a state-appointed financial manger to get Detroit Public School’s financial situation in order, because once Robert Bobb got there he started referring to their budget as the worst he’d ever seen.  He said, “They said the sky was falling but they didn’t act.”

Bobb has overseen drastic measures since taking over, including closing 29 schools, cutting central office staff, and letting 33 principals go.  These changes weren’t enough to …

Tags: Bankruptcy Detroit Public School Education Public school United States

… of jobs and medical problems and the two are often intertwined," said Elizabeth Warren, a Harvard Law School professor who was one of the authors of the study. "They discover that they must work to keep some form of economic balance and when they can’t, they’re lost."

That’s precisely what happened to Noda. She worked all her life, on a hospital’s housekeeping staff, and later selling boat tickets to tourists. She cut corners when she needed to but always paid …

… if your student loan was falsely certified. Student loans are considered falsely certified if the school:

Admitted the student loan debtor on the basis of ability to benefit from its training and you did not meet the applicable requirements for admission on the basis of ability to benefit; or

Signed the student loan debtor’s  name without their authorization on the loan application or promissory note; or

The student loan debtor had a physical, mental, or …

… supporters are lobbying hard to crush the legislation in the Senate so that it does not become law.  The legislation was inspired by the recent credit crunch that left many students unable to continue their education because of the lack of student loans available through private institutions.  If the new law is passed, student loans would not be affected by market functions because they would come directly from the government.

Many banks and their supporters are calling the move by …

… usually offer deferments for as long as 3 years, plus you don’t need to repay them while in school. Find out if peer-to-peer lenders are offering some of the perks of traditional student loans.

Most likely peer-to-peer student loans do not offer the same terms as traditional student loans; but they may be good for small loans.  But before you sign on the dotted line, check and double check the terms of the loan.

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 prudent in their choices regarding college to alleviate …

Comment by marlien: … want to go back to school but I am still paying on my …