News Formal

Student loans: How to avoid 'predatory' lending

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 63%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

With student loan payments set to restart in October, many borrowers are starting to hear from 'predatory' lending companies. So what is predatory lending and how can you avoid it? Student Defense Vice President and Chief Counsel Dan Zibel and Boies Schiller Flexner Partner Adam Shaw join Yahoo Finance Live to break down everything you need to know about 'predatory' lending as part of the weekly series 'Student Loans: Smarter Strategies.' Zibel noted that 'if it sounds too good to be true, it usually is too good to be true.' The Student Defense Vice President also discussed the push by the Biden administration to assist students who have been defrauded by institutions. Zibel explained, 'There is a process in the law known as borrower defense ... where borrowers who took out Federal student loans can apply to get their loans forgiven from the Federal government.' Shaw broke down the recent Navient lawsuit, which resulted in a $198 million settlement for borrowers who filed for bankruptcy. Shaw said, 'Everybody thought that student loans of all stripes persist through bankruptcy, but in fact certain private student loans do not persist through bankruptcy.'

This Could Be the Most Important Tip You Read This YearAnalysis shows Ohio's new universal voucher program already exceeds cost estimates

COLUMBUS, Ohio — The cost of Ohio's new universal school voucher program already appears to be more expensive than initially estimated, according to a published report, and that cost will continue to grow as the application deadline is still more than a month away. An analysis by The Columbus Dispatch found the state has received applications totaling approximately $432 million for the 2023-24 school year, which is $34 million more than forecasted by the Legislative Service Commission.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Student loans: Could filing for bankruptcy be best for borrowers?Student loan repayments are set to restart in October. What should U.S. borrowers know concerning where to find relief and what to avoid? Yahoo Finance's Rachelle Akuffo and Ronda Lee are joined by Student Defense Vice President and Chief Counsel Dan Zibel and Boies Schiller Flexner Partner Adam Shaw to talk about the 'predatory' nature of many private student loan companies and the for-profit colleges that partner with them. Zibel notes many accredited universities attract potential students by promising them opportunities and easy access to funding through private loans. Shaw encourages U.S. borrowers to reassess their finances and even consider whether “bankruptcy is right for them because there may be a path there now that was not there before.” Click here to watch more of Yahoo Finance's special coverage 'Student Loans: Smarter Strategies.'
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

UAW strike, govt. shutdown, student Loans: GDP growth faces triple threatAuto workers gearing up for a strike, a potential government shutdown, and student loan payments resuming are coinciding and could all spell trouble for the U.S. economy. EY Chief Economist Greg Daco joins Yahoo Finance to break down the overhang these headline events and recent inflation data can have on GDP growth and consumers.  When asked about the ongoing, and potential, strikes Daco explained: 'There is a direct effect on employment. There is a direct effect on spending, and there is also a direct effect on the regions that are affected that are dominated by those sectors, in this case, the automotive sector in the midwest.'
Source: YahooFinanceCA - 🏆 47. / 63 Read more »