Friday, June 10, 2016

Midwest Book Review

The Midwest Book Review just gave Solving the Student Loan Crisis a fantastic review.

Read the review here on their Education Shelf!


Anonymous said...


Now that my husband and I have our federal loans on the income contingent payment plans, we are trying to buy a (very modest) home. After speaking to a couple of loan officers, we are being told that most lenders subscribe to Fannie Mae rules, meaning that they must use fully amortized payments against a borrower, even if the borrower is paying much less on a payment plan. Freddie Mac lenders will allow revised payments, as long as the payment amount shows on a credit report. Apparently, Freddie Mac loans are much harder to come by and as of June 30, all FHA loans will follow Fannie Mae rules.

One loan officer told me that this is because lenders are worried that the government will revoke the revised payment plans once obama's term is over....

Ummm... That would be a disaster. My husband and I would owe THOUSANDS per month in loan payments. We would go into default, and my husband would lose his job. We are middle-aged people... We cannot afford to start over in the hole.

Can you tell me if you have heard any rumors about the revised payment plans being revoked?!

I am freaking out.


Anonymous said...

Sallie Mae sold off my loans a long time ago to NAVIENT CREDIT FINANCE CORPORATION who is working with WELTMAN, WEINBERG & REIS Co. LPA to get a judgement against me or have me pay every last penny in my bank account for a $93,600.00 student loan for attending the Art Institute back in 2006-2010 (Which I earned 62 credit hours and they are non-transferable) don't let me mention all the grime that was going on with the court cases to get people into the college.. only to be kicked out for a missed credit card payment.. I never received a degree and couldn't transfer my credits.. what a pointless $93,000.. I did go on to finish college on HIGH HONORS from a cheap community college with grants. Can someone tell me why I have to pay this back when it was nothing shy of a scam!

Cryn Johannsen said...

@Anonymous 4:45 PM - have you tried to reach out to the Consumer Financial Protection Bureau for help?

If you have a claim, I urge you to reach out to them first.