student loan debt

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How the Student Loan Debt Trap Could Be Fixed in One Step

By Shah Gilani, Capital Wave Strategist, Money Morning • @WallStreet_II - October 22, 2014

Beleaguered and desperate borrowers caught in the student loan debt trap need immediate help.

There is a way out for them. That same way out could also rein in college costs. But it's blocked by law. Obviously, the law has to be changed.

It can be done in just one step - here's how we can get there...

Article Index

How the Student Loan Debt Trap Could Be Fixed in One Step

By Shah Gilani, Capital Wave Strategist, Money Morning • @WallStreet_II - October 22, 2014

Beleaguered and desperate borrowers caught in the student loan debt trap need immediate help.

There is a way out for them. That same way out could also rein in college costs. But it's blocked by law. Obviously, the law has to be changed.

It can be done in just one step - here's how we can get there...

Subprime Loans Are Just the Start of the Massive Student Debt Scam

By Shah Gilani, Capital Wave Strategist, Money Morning • @WallStreet_II - July 29, 2014

If you thought there was only one component to the gargantuan student debt scam, think again. If you're about to become a college student, you're in luck.

Financial services giants Discover Financial Services Inc. (NYSE: DFS), Capital One Financial Corp. (NYSE: COF), and Bank of America Corp. (NYSE: BAC), to name a few players in the student credit game, are bending over backward for you.

They totally get you - so to speak...

Student Loan Debt and the Big Higher Education Scam

By Shah Gilani, Capital Wave Strategist, Money Morning • @WallStreet_II - July 16, 2014

Has higher education become another great American scam?

I'm not talking about the rich getting scammed. They don't wind up saddled with student loan debt after they graduate.

I'm talking about the kids who want a higher education because they believe it's their ticket to employment and well-compensated careers. They pay for it themselves, or their parents cosign on loans or take out personal loans on behalf of their kids' college dreams.

For them, higher education is increasingly looking like a scam. Here's why...

How to Get Out of Student Loan Debt in Bankruptcy

By Guest Editorial, Money Morning - June 6, 2013

Anyone wondering how to get out of student loan debt - or wondering if a slew of student debtors could try to do so - needs to read this.

Yesterday, I wrote about the case of Michael Hedlund, the failed law student who was able to discharge $58,000 of his student loans in a 10-year bankruptcy action.

Before Hedlund's case, it was widely accepted that there were only two ways to get out of student debt: pay it off, or die.

But the Ninth Circuit took a long, hard look at Hedlund's circumstances. It found that he'd acted in good faith to repay his loans, and that paying the full amount would be an undue hardship for Hedlund and his family.

The court viewed Hedlund as an "ideal debtor," and so it excused a large portion of his debt.

If you are a student debtor, you too could have a decent shot at discharging your student debt in bankruptcy, but only if you are an ideal student debtor.

But what makes an ideal debtor?

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