Black heard Casola’s plea. Just a few months later, in April 2015, the firm announced a loan refinancing program with First Republic Bank. The institution—which wasn’t a client of the firm but a recommendation from a partner who banked there—declined to comment for this article. … [Read more...] about New lawyers get an assist on their student loan debt from their firms
Whats the average student loan debt
Crespi says if someone started school under the current income-based repayments rules but those were changed before they signed up for the repayment program, then they would be subject to the new rules and not have recourse through the courts—even if they relied on the earlier terms. However, those who signed up for IBR before a statutory change likely are safe because they have legal protections against revocation. … [Read more...] about Student loan forgiveness: Great in theory, murky in practice
UC offers a variety of $1.65 billion in aid options for students — including the Cal Grant and the federal Pell Grant — which helps keep California on the low end of the student debt spectrum. On average, a California student graduates with $22,744 in debt. … [Read more...] about Financial aid still comes with crippling debt for some UC students, study finds
Currently, student loan debt is dischargeable in bankruptcy only by those who can show undue hardship, a standard that is very difficult to meet, as the courts have interpreted it. If the executive branch decides to propose legislation and it is enacted, more debtors would potentially be able to eliminate their student loans, reports the Wall Street Journal (sub. req.). However, it is unclear at this point how many debtors would be affected and what the new standard for discharge might be. … [Read more...] about Obama takes steps to allow more student loans to be discharged during bankruptcy
“Law schools that are part of a university have their default rates aggregated with the university, so it is difficult to determine their default rates. Given that they constitute the vast majority of law schools, however, it could well be that some of them have the highest loan default rates,” Lively wrote in an email to the ABA Journal. His law school had a student loan default rate of 1 percent, according to the data. … [Read more...] about Is Department of Education data on student loan defaults an accurate reflection of law schools?