Student Loan Debt Crisis: Can Mandatory Paycheck Deductions Reduce Defaults?
Congressman Tom Petri (R – WI) has a plan to reduce student loan defaults and it does not involve discharging the loans in bankruptcy or reducing the amount of money students are allowed to borrow…
Right now, Americans own more than $1 trillion in student loans – more than they do in credit card debt. Congressman Petri thinks that fixing the country’s student loan crisis will come from improving the payments process. His plan? Mandatory paycheck deductions to cover student loan payments.
Think it could work? Let us know in the comments below.
[Link: Congressman: My Plan Would Reduce Student Loan Defaults - Bloomberg Law]
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Additional reading:
- Student Loan Bankruptcy Reform - Andrews Law, PLC
- 4 Steps to Keep Student Loans from Overwhelming You - Elissa Westbrook Smith
- CFPB Report Likens Student Loan Complaints to Mortgage Servicing Problems - BuckleySandler LLP
- Chopra keeps focus on student loan servicing problems - Ballard Spahr LLP
- CFPB issues report on servicemember student loan debt - Ballard Spahr LLP
- CFPB student loan ombudsman releases first annual report - Ballard Spahr LLP
- Don’t Leave Your Loved Ones Paying For Your Education - The Virtual Attorney
- Why can’t I get rid of my student loan debt in bankruptcy? - Malcolm Ruthven
- Pew report could bolster CFPB student loan concerns - Ballard Spahr LLP
- Are Student Loans Community Property? Dividing Debt in Divorce - Rowley Chapman Barney & Buntrock, Ltd.
- Avoid Defaulting on Government Student Loans - Lawyers.com
- Yes, You Can Ditch a Student Loan in Bankruptcy - Lawyers.com
- Student Loan Debt Crisis: Light at the End of the Tunnel?
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