{"id":225,"date":"2012-06-17T00:00:00","date_gmt":"2012-06-17T00:00:00","guid":{"rendered":"https:\/\/empowernetwork.com\/freedomwithpeter\/thestudentloanbubble\/"},"modified":"2026-08-02T08:00:27","modified_gmt":"2026-08-02T08:00:27","slug":"thestudentloanbubble","status":"publish","type":"post","link":"https:\/\/empowernetwork.com\/freedomwithpeter\/thestudentloanbubble\/","title":{"rendered":"The Student Loan Bubble"},"content":{"rendered":"

Overture: <\/strong>
\nHave fun while listening to the tracks chosen as the soundtrack to Today\u2019s
\n\u201cEmpowering Freedom with the Empower Network<\/a>\u201d
\nBlogs.<\/p>\n

Real people, helping real people\u2026.<\/span><\/p>\n

Hi There, Friends of Freedom:<\/strong><\/strong><\/p>\n

As is my custom, I was sitting with my morning beverage today<\/p>\n

looking through the investment and investor news<\/p>\n

getting a handle on what the media might be talking about<\/p>\n

that would spook my clients and de-rail them from the plans<\/p>\n

we have put together to ensure that:<\/p>\n

1. The family is properly protected in the event that they would \u201cdie too soon\u201d<\/strong><\/p>\n

2. They are moving out of the \u201cdebt cycle\u201d in order to get into the \u201ccash cycle\u201d, and<\/strong><\/p>\n

3. They are on the road to financial freedom, and will never have to worry about \u201cliving too long\u201d<\/strong><\/p>\n

The following post<\/p>\n

Student loan borrowers flood government website with complaints<\/h2>\n

found me.\u00a0 Hmmm\u2026 I had to learn more.<\/p>\n

Liz Goodwin<\/span>, of Yahoo News, wrote<\/p>\n

Thousands of student loan borrowers wrote occasionally heartbreaking complaints about dealing with their debt burden to the federal Consumer Financial Protection Bureau, which is soliciting comments from people who have taken out private student loans to finance their education.<\/p>\n

\u201cMy own children will not be able to get the help they need to go to college because I will STILL be shackled to my debt,\u201d one woman wrote.<\/p>\n

\u201cI want to work hard, marry my girlfriend, buy a house, and start a family.<\/p>\n

The consumer protection group asked the public for responses to help the Department of Education conduct a study on the private student loan market, and it published nearly 2,000 comments and complaints on its website. The group also released a\u00a0student loan complaint system, where borrowers can report their grievances.<\/p>\n

Private student loans often have higher interest rates than public ones and do not always offer income-based repayment plans for borrowers who get into financial trouble. Neither type of loan can be discharged in bankruptcy.<\/p>\n

Many of the commenters say they are unable to pay their student loans or their children\u2019s loans, and some complained that the loan companies have aggressively gone after their cash, driving them into poverty. Some borrowers wrote that they regret going to college altogether, or that they were uninformed about how quickly the debt would balloon. Many mentioned that they are unable to consolidate their various loans into one, lower-interest loan. A few people, however, wrote in to defend private loans, saying they had no difficulty paying them off.<\/p>\n

To read the full article, <\/p>\n

Student loan borrowers flood government website with complaints
\n<\/h2>\n

Related Media<\/strong><\/h3>\n

1. Student Loans Need Major Overhaul, Not Small Fixes (article)
\n2. The Student Loan Forgiveness Act of 2012 (H.R. 4170) \u2013 Bill Text (article)
\n3. Would the Student Loan Forgiveness Act Help You? (article)
\n4. <\/p>\n