Wednesday, March 18, 2015


Student Loan Debt: ONE BIG PARTY! 

Problem Is: Student Borrwers are NOT invited!

Democrats care less about helping us SOLVE our student loan problems. They used to HELP the poor. The 'little guy.' Like student loan borrowers in trouble. NOW they take campaign contributions from wealthy people running credit collection firms (and their subsidiaries?) hired by - get this - the US Department of Education to harass student loan borrowers and also pay each other off with political favors.   Like this example:

First, Governor Brown of California appoints Peter Taylor***
(***"Peter Taylor, 56, of Los Angeles, has been appointed to the California State University Board of Trustees. Taylor has been president at the Educational Credit Management Corporation Foundation since 2014. He was served as chief financial officer at the University of California, Office of the President from 2009 to 2014 and was managing director of municipal finance at Barclays Capital and Lehman Brothers from 1993 to 2009. Taylor was finance director for the California Democratic Party from 1991 to 1992 and a regulatory and government affairs manager at General Telephone and Electronics Corporation, California from 1988 to 1991.
He was executive director at the Coro Foundation, Southern California from 1987 to 1988 and served as legislative staff in the Office of California State Assembly Majority Leader Mike Roos from 1981 to 1987. Taylor is a member of the Edison International Board of Directors, J. Paul Getty Trust Board of Trustees and the Henry J. Kaiser Family Foundation Board of Trustees. He was chair of the James Irvine Foundation Board of Directors from 2010 to 2012 and of the University of California, Los Angeles African American Admissions Task Force from 2006 to 2008. Taylor earned a Master of Arts degree in public policy analysis from Claremont Graduate University. This position requires Senate confirmation and the compensation is $100 per diem. Taylor is a Democrat.")

see:

Calif. Gov. Brown Announces Appointments for March 11, 2015 including California Water ...
Taylor has been president at the Educational Credit Management Corporation Foundation since 2014. He was served as chief financial officer at the ..

People Have Given To
People with positions in ECMC Foundation have made donations to:
Recipient Total People
Barack Obama $6,300 Peter J. Taylor
Democratic Congressional Campaign Committee $3,000 Peter J. Taylor
Lois Capps $1,000 Peter J. Taylor
Jim Costa $1,000 Peter J. Taylor
Hilda Solis $1,000 Peter J. Taylor
Al Gore $1,000 Peter J. Taylor
David Malcolm Roth $1,000 Peter J. Taylor
Dianne Feinstein $500 Peter J. Taylor
--------------
'ECMC Foundation is a $150m foundation run by Educational Credit Management Corp.'
source:   http://littlesis.org/ 

Sunday, March 8, 2015

Got a Student Loan Problem? EMAIL ME at: alandicaraATgmail.com

Corinthian Strikers Tell Creditors to Take a Hike!

News ( http://www.huffingtonpost.com/2015/02/25/corinthian-15-student-loans_n_6739016.html ) is that many students who borrowed student loan funds to attend (now bankrupt?) Corinthian colleges face the prospect of not getting what they thought they were paying for. See some of them and their stories (scroll down once there) at: https://debtcollective.org/studentstrike

Unfortunately, without organized help and support, these strikers and all student loan debtors will learn fast what the famous sage once said when he said, "The mill grinds slow but the mill grinds fine." By which is meant that the US Department of Education and its many overpaid credit collection agents and their attorneys may soon begin action against any student loan debtors who refuse to repay student loan debts or who default on their debts they cannot afford and for which they have obtained no foreseeable and positive benefits. Defaulting or being delinquent on student loan debts is a REALLY BIG THING!

What to do?

First, you SHOULD JOIN Student Loan Action Group  ( www.StudentLoanActionGroup.org ) in order to get federal laws changed to reduce high costs to students of a college education and to eliminate the over $1 trillion in student loan debt - including YOUR debt. Also, we want to make sure our investments in a college education are completely TAX DEDUCTIBLE as are any LOSSES on such investments. And we want a TRUTH IN LENDING for student loan borrowers signed by banks and other lenders, the US Department of Education and their contractors and collection agents BEFORE anyone borrows ANY money for college. This STATEMENT will disclose what, exactly, they all will do to you and to any co-signors (like Mom and Dad) if and when you cannot repay your student loans. Like garnishing your wages. Or chasing you to your graves in old age and garnishing your Social Security benefits. Or ruining your pristine credit rating - the one you had before you borrowed student loans.
and DO some of all of the following to help yourself. Remember: people may tell you that seeking protection under federal bankruptcy law is a waste of time but you need to know 2 things: 1) seeking such protection stops ALL other court/legal actions against you and 2) there is help from federal bankruptcy judges and courts - with appeal rights all the way to the US Supreme Court - if you meet their outdated 'tests' for such help. For the record, it's time you joined Student Loan Action Group ( www.StudentLoanActionGroup.org )  to help yourself and millions of other student loan borrowers seek changes to federal laws, including bankruptcy laws, so that student loan borrowers can finally get fair treatment and solutions to their problems including debt elimination.

Next:

1) Go see a lawyer, preferably one skilled in contract law, bankruptcy protection - though seeking this is difficult but not impossible, unfair trade practices and fraud. One attorney who can help is Ken McCallion, ( http://www.mccallionlaw.com/  ) who is understanding, knowledgeable, experienced and willing to help. Ken lives and works in New York and has offices and connections around the country in other states where you may live and is familiar with solving problems for student loan debtors. (I know.). Email Ken at  kfm@mccallionlaw.com to tell him what's going on and to ask for help. No obligation.

2) Email me at alandicaraATgmail.com to join Student Loan Action Group. No membership fee. No obligation. Just concerted citizen action from all of us to make our government more responsive to our needs. Now.

3) Also look into forgiveness benefits if you have any disability or if you meet other requirements such as being willing to teach or practice medicine in either the outback of rural America or in inner city combat zones. See the US Dept of Education charts and info below. Note too that state governments sometimes offer help to student loan debtors. (So CALL your State Reps too to learn about any!)

4) If you think you qualify (give it a try in any case) - unemployment and other deferments (check these out at : https://studentaid.ed.gov/repay-loans/deferment-forbearance   ) are usually available to people who owe student loan debts but do not have the income to repay. There are also income sensitive payment plans for people who cannot find a decent job paying a decent income with benefits.

Got low wages? Get an income-sensitive repayment plan (see: https://studentaid.ed.gov/repay-loans/understand/plans  ) asap.

And check out:  https://studentaid.ed.gov/repay-loans/forgiveness-cancellation/charts   where they have the following charts and other info: (note: when you are completely confused, got to www.senate.gov, click the menu for the state you reside in, find your 2 senators and CALL THEM TO ASK FOR HELP with the US Department of Education. (That's why we pay them - to HELP with federal agencies CONGRESS created.) Here are some important charts from the US D of Ed's re forgiveness and related matters for student loan borrowers:

The following charts provide an overview of the provisions and links to discharge applications.
Direct Loan and FFEL Program Loan Forgiveness, Cancellation, and Discharge Summary Chart
Federal Perkins Loan Cancellation and Discharge Summary Chart
To apply for loan forgiveness, cancellation, or discharge, contact your loan servicer.

Direct Loan and FFEL Program Loan Forgiveness, Cancellation, and Discharge Summary Chart

Discharge Condition
Amount Discharged
Notes
Borrower's total and permanent disability or death 100 percent If you are a parent PLUS loan borrower, then the loan may be discharged if you die, or if the student on whose behalf you obtained the loan dies.
Bankruptcy (in rare cases) 100 percent Cancellation is possible only if the bankruptcy court rules that repayment poses an undue hardship to the borrower.
Closed school (for borrowers who could not complete their program because the school closed while they were enrolled or borrowers who withdrew not more than 90 days before the school closed) 100 percent For loans received on or after Jan. 1, 1986.
False loan certification (school falsely certified a borrower's eligibility to receive a loan)

100 percent For loans received on or after Jan. 1, 1986.
False certification by reason of identity theft (loan was made as a result of the crime of identity theft, as determined by a court) 100 percent Effective July 1, 2006.
School does not make required return of loan funds to the lender Up to the amount that the school was required to return. For loans received on or after Jan. 1, 1986.
Full-time teacher for five consecutive years in a designated elementary or secondary school or educational service agency serving students from low-income families. Must meet additional eligibility requirements. Up to $5,000 (up to $17,500 for elementary/secondary special education teachers and secondary math and science teachers) of the total loan amount outstanding after completion of the fifth year of teaching.

Under the Direct and FFEL Consolidation Loan programs, only the portion of the consolidation loan used to repay eligible Direct Loans or FFEL Program loans qualifies for loan forgiveness.
  • For Direct Subsidized and Unsubsidized Loan and Subsidized and Unsubsidized Federal Stafford Loan borrowers with no outstanding balance on a Direct Loan or FFEL Program loan on Oct. 1, 1998, or who have no outstanding balance on a Direct Loan or FFEL Program loan on the date they received a loan after Oct. 1, 1998.
  • PLUS loans are not eligible.
  • To learn more about the eligibility requirements for teacher loan forgiveness and to find out whether your school or educational service agency where you teach is considered to serve low-income students, go to Teacher Loan Forgiveness.
Loan forgiveness for public service employees
(Direct Loan Program only)
100 percent of the remaining outstanding balance on an eligible Direct Loan. For a borrower who is not in default and who makes 120 monthly payments on the loan after Oct. 1, 2007, under certain repayment plans, while the borrower is employed full-time in a public service job.
You may not apply for forgiveness until after you have made all of the required 120 qualifying monthly payments.

Loan Discharge Applications

The following is a list of loan discharge applications. If you have a Direct Loan or FFEL Program loan and you’re ready to apply for forgiveness, cancellation, or discharge, you must contact your loan servicer.

Federal Perkins Loan Cancellation and Discharge Summary Chart

This chart includes a list of cancellation provisions for Federal Perkins Loans. If you have a Federal Perkins Loan, you must apply to the school that made the loan or to the loan servicer the school has designated. If you have any questions on Perkins Loan cancellation, contact the school or loan servicer.

Cancellation Conditions Amount Forgiven
Borrower's total and permanent disability or death 100 percent
Bankruptcy (in rare cases—cancellation is possible only if the bankruptcy court rules that repayment would cause undue hardship) 100 percent
Closed school (before student could complete program of study); applies to loans received on or after Jan. 1, 1986 100 percent
Service in the U.S. armed forces in a hostile fire or imminent danger pay area Up to 50 percent for borrowers whose active duty service ended before Aug. 14, 2008
Up to 100 percent for borrowers whose active duty service includes or began on or after Aug. 14, 2008
Full-time firefighter (for service that includes August 14, 2008 or began on or after that date) Up to 100 percent
Full-time law enforcement or corrections officer Up to 100 percent
Full-time nurse or medical technician Up to 100 percent
VISTA or Peace Corps volunteer Up to 70 percent
Librarian with a master's degree working in a Title I-eligible elementary or secondary school or in a public library serving Title I-eligible schools (for service that includes August 14, 2008, or began on or after that date) Up to 100 percent
Full-time attorney employed in a federal public or community defender organization (for service that includes August 14, 2008, or began on or after that date) Up to 100 percent
Full-time employee of a public or nonprofit child- or family-services agency providing services to high-risk children and their families from low-income communities Up to 100 percent
Full-time staff member in the education component of a Head Start program Up to 100 percent
Full-time staff member in a prekindergarten or child care program that is licensed or regulated by a state (for service that includes August 14, 2008, or began on or after that date) Up to 100 percent
Full-time qualified professional provider of early intervention services for the disabled Up to 100 percent
Full-time speech pathologist with a master's degree working in a Title I-eligible elementary or secondary school (for service that includes August 14, 2008, or began on or after that date) Up to 100 percent
Full-time special education teacher of children with disabilities in a public or other nonprofit elementary or secondary school Up to 100 percent
Full-time teacher of math, science, foreign languages, bilingual education, or other fields designated as teacher shortage areas Up to 100 percent
Full-time special education teacher of children with disabilities in an educational service agency (for service that includes August 14, 2008, or began on or after that date) Up to 100 percent
Full-time teacher in a designated educational service agency serving students from low-income families (for teaching service that includes August 14, 2008, or began on or after that date) Up to 100 percent
Full-time faculty member at a tribal college or university (for service that includes August 14, 2008, or began on or after that date) Up to 100 percent
Note: As of Oct. 7, 1998, all Perkins Loan borrowers are eligible for all cancellation benefits regardless of when the loan was made or the terms of the borrower's promissory note. However, this benefit is not retroactive to services performed before Oct. 7, 1998. -from the US Department of Education website at:
https://studentaid.ed.gov/repay-loans/forgiveness-cancellation/charts