Category Archives: Loans

The last time Congress rewrote bankruptcy laws, it was to prohibit students from using bankruptcy to escape education loan obligations. Now – in light of a $1 trillion student loan bubble – legislators are discussing the possibility of reversing that position, reports The Wall Street Journal. Back in 2005, the government prohibited the discharge of… Read More »

Bankruptcy was created to help Americans relieve the burden of impossible debt. Yet for the past 7 years, there was one important type of debt it couldn’t ease: student loans. But some legislators are bent on changing that, according to The Wall Street Journal. In 2005, Congress revised bankruptcy laws to exclude the discharge of… Read More »

Bankruptcy has always been intended for Americans who need help breaking free from the burden of overwhelming debt. Yet, since 2005, bankruptcy protection has been unable to help those with certain types of debt – namely, student loans. Now lawmakers are debating whether bankruptcy laws in Chicago and other areas across the U.S. should be… Read More »

Our debt problems are beginning earlier and earlier. As recent news stories have illustrated, American students collectively hold one trillion dollars in student loan debt. In addition to school loans, most recent graduates leave school with the burden of credit card debt and car loans. While this is bad news for young adults, it’s also… Read More »

Most parents would do anything to help their kids succeed. But by co-signing loans for young adults, many families are unintentionally making things more difficult. Despite everything Americans have learned in recent years about having too much debt, we are putting our kids under immense pressure to borrow money. With tuition rising rapidly, most students… Read More »