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Posts by Rose McConnell

Middle-Aged and Burdened by Educational Debt

There are two primary means by which people can find themselves burdened by educational debt in middle age. One, is by making the mistake of signing a Parent PLUS loan for a younger relative. This is a mistake 100% of the time. No relative should sign such a loan for any reason. First, the origination…

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Worst to First Advice About Your Student Loan Payments

Lately I have been visiting various Facebook pages and blogs to see what people are saying about student loans. There are a lot of credit clearing companies, banks wanting to refinance such loans and general information sites. I am stuck by the range of suggestions given to struggling borrowers. Often, the advisor is another struggling…

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Qualifying Educational Debt as Business Debt

As is too well known to need further elucidation here, borrowers are uniquely challenged to meet the “undue hardship” standard required by law to discharge educational debt in bankruptcy. The Department of Educations July 07, 2015 guidance letter provides little additional clarity and no new options for discharge. It appears that the DOE continues to…

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