CFPB Student Loan Ombudsman Resigns, Blasts Mick Mulvaney
The student loan ombudsman for the Consumer Financial Protection Bureau, Seth Frotman, resigned on August 27, 2018. On his way out, he blasted CFPB Acting Director Mick Mulvaney, writing that the director has abandoned the CFPB’s mission to protect consumers. Congress created the office of the student loan ombudsman at the CFPB to protect student […]
What Happens to My Debts When I Die?
When planning a future for your loved ones, you do not want your legacy to include a mountain of debt. Many people are unaware that their debts can continue to haunt those they leave behind. Whoever you select to manage your estate will serve as the “executor,” and that person is responsible for probate, the […]
Student Loans: The Only Type of Risk-Free Lending
The only type of risk-free lending in the United States is student lending. Student loans cannot be discharged in bankruptcy and can even survive your death. No other type of lender in America is afforded the same protections as student loan lenders. Student loans are not dischargeable in bankruptcy Lots of different types of debts […]
The Solution to Increasing Student Loan Defaults
In 2016, 43 million Americans carried a total of over $1.3 trillion in student debt. More than 40% of the nearly 22 million borrowers with federal student loans were in default or behind on their payments. Student loan defaults have been compared to the subprime mortgage meltdown of 2007-2010. In 2017, Americans owed over $1.48 trillion in student […]