Reinstate the Bankruptcy Discharge for Student Loans
Jerome Powell, the new Federal Reserve Chairman, believes that we should bring back the bankruptcy discharge for student loans. For years, Lee Legal has advocated for the bankruptcy discharge for student loans. Before 1976, federal student loans could be discharged just like any other unsecured debts. And up until 2005, private student loans could be […]
Student Loans and Financial Well-Being
A Report on the Economic Well-Being of U.S. Households (May 2017) by the Federal Reserve offers some key insights into the economic status of American consumers. The report makes several striking findings about student loans and financial well-being. College graduates are struggling financially The report found that, in large numbers, young graduates struggle to pay their loans and […]
Bridging the Economic Divide
In the United States today, economic opportunity remains sharply divided along racial and ethnic lines. President Obama has declared bridging the economic divide to be “the defining challenge of our time.” So why does an immense wealth gap persist in America, especially for American minorities? On February 10, 2016, Federal Reserve Chair Janet Yellen testified […]