Student Loan Servicers Abuse IDR IBR
This is how Student loan servicers abuse IDR IBR applications. To make your student loans manageable: Your student loan is almost always managed by a servicer. The system acts similarly to how mortgages are serviced. A servicer is a private company that makes calls, sends letters and processes the rehabilitation and consolidation applications. Servicers are primarily interested in their […]
Kentucky Higher Education Student Loan Corporation KHESLC & Bankruptcy
There are some cases where a person cannot obtain the disability discharge but may still be able to obtain an undue hardship discharge in bankruptcy. Kentucky Higher Education Student Loan Corporation “KHESLC” is not the Department of Education. However, a loan may have originated at Kentucky Higher Education Student Loan Corporation and purchased after default […]
Senior Citizens Social Security Student Loan Garnishments
In 2005, older adults owed $2.8 Billion in federal student debt. However, 2013 saw an increase to over $18 Billion. This is according to the Government Accountability Office (GAO) in 706,000 households compared to 22 million households with the remaining student loan debt. People over 65 who are on social security default their student loan […]
Student Loan Forgiveness Programs
Several Student Loan forgiveness programs can cancel all or part of your federal student loans. Each program has different eligibility requirements. An IBR or ICR will make a loan affordable and allow the loan to be discharged. But other programs will pay it off sooner or may reduce the payments even more. When you are in […]
Kentucky Statute of limitations
Kentucky has a 15 year statute of limitations for written contracts UNLESS you have paid on it. Making any payment within the statutory number of years re-sets the statute for another 15 years. Some states have this rule in their Statute of limitations. Other states don’t. If a collector is pestering you about a 16 […]
School Student Loan Default College Liability
School student loan defaults and the liability of colleges for defaults is a hot topic. The average student loan default rate for four year schools is 25% for two year schools it is 35% and for private colleges it is about 45%. About 14% of student loans default within three years even though deferments and forbearances exist. For the […]
