As a student loan consultant, I work with borrowers of various different career paths. Some are architects, some are baristas and some are even actors living in Hollywood. One of the biggest groups of borrowers I help are physicians. Because of their high debt amounts, and their participation in Internship and Residency, doctors are faced with special circumstances when it comes to managing their student debt. One of the most recent concerns that doctors are facing is the effect Continue reading
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About the “Fairness for Struggling Students Act of 2015”
This month, 13 senators cosponsored the “Fairness for Struggling Students Act of 2015.” Through the passing of this bill, these senators intend to remove the bankruptcy immunities that have made private student loans impervious to being discharged through the process of bankruptcy. I’ve always held that applying bankruptcy immunity to private student loans is unfair, since they are far less borrower-friendly than federal loans. Allow me to expand a bit on why I believe federal student loans should have bankruptcy Continue reading
The Student Aid Bill of Rights (Obama’s Memorandum)
Big news! Today, President Obama signed a memo called the Student Aid Bill of Rights. Through this memo, he plans on changing student loan regulations to make repayment easier, as of July 1st, 2016. Also, he intends to establish and ensure strong consumer protections for student loan borrowers. Phew. These are welcome news, indeed. Notable fact: This isn’t the first time federal student loan regulations have been majorly overhauled on July 1st. In both 1987 and 1993, on July 1st, Continue reading
Student loan speaks on the Michael Cohen radio show
This morning, I had the pleasure of being the featured guest on Michael Cohen’s radio show. You can click here to listen to the interview. I really enjoyed sharing helpful information that I usually don’t get to share, particularly some little-known facts about student loan delinquency, and how it greatly differs from being delinquent (i.e. late) on any other type of debt. Sneak preview: student loans have much kinder policies for payment lateness — and they’re far more flexible than Continue reading
CNBC asks me: How to ease the burden of student debt
This past week, I was asked to contribute to a CNBC article about the topic that seems to be on everyone’s mind these days: the strange and incomprehensible world of student loan debt. The article is titled, “How to ease the burden of student debt,” and in it, I’m quoted saying, “there’s almost always a way to make your situation work.” What a perfect quote to be featured — this statement is at the heart of my work! You can Continue reading
9 Ways Student Loans Impact your Credit Score
Many people are curious, and often worried, about the effect that student loans will have on their credit score. They wonder if taking out a student loan will help their credit, or hurt it, and to what degree will it influence overall creditworthiness. The way that your federal student loans impact your credit is actually quite similar to the way any loan does. Just like any loan or line of credit, they can help your credit score when you Continue reading
11 uniquely positive things about federal student loans
My most recent article, “11 uniquely positive things about federal student loans,” has just been published at the Deseret News national site. You can read it at this link. I especially liked writing this article because it put a positive spin on student loans — which is a much-needed perspective, in my opinion, considering all the negative media student debt invariably tends to get. Federal student loans really do have quite a few uniquely positive things about them. Like, Continue reading
I’m on the Jim Paris radio show. Listen here!
Last night (Sunday the 4th), I had the pleasure of being interviewed by Jim Paris, for his radio show, Jim Paris Live. We had a great time talking about student loan repayment: how complicated it is, common Q & A’s and why my background in both private and federal loans (as well as investment advising) has qualified me to provide this unique – and much-needed – service. As you’ll hear, Jim has a knack for picking my brain. And a Continue reading
All about Parent PLUS Loans
Recently, I was asked to contribute to U.S. News & Report’s article on Parent PLUS Loans titled, “4 Strategies for Repaying Federal Parent PLUS Loans.” The rules and regulations governing these loans are particularly complex, so I was glad to shed some much-needed light on them (in plain English). Since the article was published, I’ve had many people email me, asking me more questions about their Parent PLUS Loans. So here’s a Q & A format of some of Continue reading
10 reasons to give thanks (!) for student loans
As you may have noticed, in recent days, there have been numerous news stories highlighting the negative aspects of student loan debt. Student loans have consistently made national headlines, with stories that have highlighted their overwhelmingly complex nature, government attempts at reforming them and wildly complicated repayment terms. Although the student loan industry is in dire need of improvement, student loans actually have many characteristics that are quite positive – but they seem to have been overlooked on a national Continue reading