Debt Collectors See Student Loans as Industry’s ‘New Oil Well’

By Bill Fay | September 18, 2012

The U.S. Department of Education is making debt-collection companies rich as it seeks to collect repayment of wayward student loans.

Piggy Bank with Student Loans

Student Loans Reach Record Highs With No Debt Relief in Sight

By Bill Fay | September 14, 2012

As a record number of borrowers default on their student loans, a new poll shows that those who haven’t paid off their loans want their lenders to forgive the debt.…

Playing The Financial Aid Game Infographic

By Cecillia Barr | August 7, 2012

Share this Image On Your Site, please include attribution to Chart Your Way Through the College Financial Aid Process If you’re wondering what FAFSA stands for — or could just…

college kid on laptop image

Communities Lure Grads with Student Loan Repayment Packages

By Bill Fay | August 6, 2012

Communities all around the United States, concerned with the long-term effects of an aging population and a steady decline in inhabitants, are trying something a little different this year to…

sad college student image

Legislation Would Allow Private Student Loans to be Discharged in Bankruptcy

By Bill Fay | August 3, 2012

Student loan debt and delinquencies have grown at such an alarming rate over the past couple of years that Sen. Dick Durbin, D-Ill., was prompted to introduce legislation in an…

graduates celebrating

Student Loan Forgiveness Act Would Cancel Some Debt after 10 Years

By Bill Fay | July 27, 2012

In an effort to help jump-start the economy, generate jobs and lend a helping hand to college graduates facing tough financial times, Democratic Rep. Hansen Clarke of Michigan drafted an…

student loan bankruptcy

Bankruptcy & Student Loans

By Bill Fay | July 9, 2012

More than four million borrowers have defaulted on student loans, but if they’re hoping bankruptcy will bail them out, they better have a Plan B. The majority of consumer debt…

Young male student with glasses holding multiple credit cards looking stressed about his climbing debt

U.S. College Students Consumed by Credit Card Debt

By Bill Fay | July 2, 2012

The results are troubling for economists. In a country riddled with consumer debt — the next generation of American consumers, college students, seem to be following in their parents’ footsteps,…

Student Loan Application

Congress Steps Up, Keeps Stafford Loan Rates at 3.4 percent

By Bill Fay | July 2, 2012

It came down to the wire, but Congress finally voted to help out millions of current and former college students who have accumulated up to $1 trillion in student loans.…

Group of medical students in hallway with girl smiling at camera one hand in pocket, holding clipboard

Health Professions: Loans for Medical and Nursing School

By Bill Fay | May 29, 2012

The demand for doctors and nurses in the United States is extremely high, but so is the cost of education for both professions. More than 76% of the 2016 medical…