BLOG Archives • Student Debt Crisis

Letter to Governors: Support a Student Loan Borrowers’ Bill of Rights

Dec 6, 2018 | BLOG, NEWS

Dear Governor-Elect and Members of the State Legislature, Forty-four million Americans across the country are shouldering approximately $1.5 trillion in student loan debt. Every year, 1 million borrowers default on nearly $20 billion in federal student loans. We are...

We will make history — Here’s your student loan voter checklist for 2018

Nov 5, 2018 | BLOG, NEWS

Tuesday is an incredibly important day for our nation. Across the country, millions of Americans are voting in the 2018 midterms election and you must be one of them. Your voice matters — the futures of federal student loan repayment plans, public service loan...

Attorneys General to Betsy DeVos: Discharge student loans for tens of thousands of defrauded borrowers

Oct 30, 2018 | BLOG, NEWS

BOSTON – Massachusetts Attorney General today led a coalition of 21 states with California Attorney General Xavier Becerra, demanding that the U.S. Department of Education immediately discharge the student loans of eligible borrowers who attended predatory for-profit...

The system is broken: 99% of student loan forgiveness applications rejected

Sep 21, 2018 | BLOG, NEWS

This piece was originally published in MarketWatch – This Government Loan Forgiveness Program has Rejected 99% of Borrowers so Far So far, roughly 99% of processed applications for forgiveness under a government program aimed at helping public servants manage...

Betsy DeVos, don’t allow poor performing schools to leave students with massive debt and no jobs

Sep 19, 2018 | BLOG, NEWS

The Honorable Betsy DeVos Secretary of Education U.S. Department of Education 400 Maryland Ave. SW Washington, DC 20202 Submitted electronically via: http://regulations.gov Re: Docket ID: ED-2018-OPE-0042-0001, Gainful Employment Dear Secretary DeVos: As 68...

Letter to Betsy DeVos: Don’t let schools financially abuse students and waste taxpayer dollars

Sep 13, 2018 | BLOG, NEWS

The Honorable Betsy DeVos Secretary of Education U.S. Department of Education 400 Maryland Ave. SW Washington, DC 20202 Submitted electronically via: http://regulations.govRE: Docket ID ED-2018-OPE-0076 Dear Secretary DeVos: As 62 organizations and advocates for...

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What’s your Student Debt Story?

Student Debt Story:

To me there are 3 big injustices in America that are not political:
Life Insurance is one.
Student loans another.
And the third is the value of most university endowments, which is or could be used to relieve Student loans.

When I went to the University of Connecticut tuition was $600.00 a semester. Loans were rare and quickly paid off. You now have skyrocketing tuition costs and loans. Totally wrong and unfair. As an example: Yale's endowment is now $23.9 billion as of June 30, 2014, net of spending. The University benefited from investment gains of approximately $4.0 billion. Yet how many students will be able to EVER pay back their loans that go there. For those reading this, google any college's endowment value to see what I mean.

My daughter has a $30,000.00 student loan to attend UNR. We both make payments monthly, but with interest, it will take 24 years to pay it off. She graduated 8 years ago. The University of Nevada, Reno's total endowment exceeded $277 million as of June 30, 2014 and returned 19.6 percent. Fair?

Larry Roscoe

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