The other day, I came across a throw-away line that practically made me fall out of my chair.
I was reading an article that discussed the financial results of First Marblehead, a student loan company, according to its 10-Q. The 10-Q is the quarterly report that publicly-traded companies must file with the Securities and Exchange Commission. When I practiced law, I used to draft them.
Talk about tedious…
Anyhow, First Marblehead reported that half – 1 out of 2! – of it’s loans fell into its worst, most risky category!
In other words, 50% of First Marblehead’s loans are either in default or are likely to go into non-payment status!
Don’t think that it’s just First Marblehead loans, either -this is but a glimpse into how bad this problem really is.
What’s the fix?
I’ve seen many suggestions, including beefing up the new Consumer Financial Protection Bureau’s powers to regulate.
I don’t have much of a stomach for more burdensome, bureaucratic regulation. Kinda makes me throw up in my mouth
a little bit.
But I do think that the best defense is a good offense – learning how the financial aid system “game” really works – so
you can beat the system – and reduce or flat-out eliminate rip-off student loans all-together!
This way your child won’t fall into a death-spiral like what First Marblehead described – default on his or her
loans and have ruined credit within months of graduating.
So do your research – identify the most financially generous colleges available – and the ones that offer more grants and scholarships than student loans! Then, figure out how to get into them!
If you don’t roll up your sleeves and get serious about this, you will regret it in the not-so-distant future!
{ 2294 trackbacks }
{ 4069 comments… read them below or add one }
comment4, celebrex kidneys, Buspar, Cialis, cytotec, Lasix,
Where were you five years ago? do you like where you’ve gone in the last five years? What are you doing to make sure the next five years don’t dissapear like the last? Where do you think you will be five years from now? I know where I’ll be, and it’s all thanks to Kleeneze.
comment2, cialis super active 20 mg, generic zithromax, lipitor and side effects, Xanax, zoloft online, cialis.com, doxycycline in man problem urinary, cialis online, acomplia diet, clomid online, acomplia diet drug purephentermine, free phentermine, discount viagra, viagra uk, levitra, maxaquin, valtrex dose,
So not really on the same topic as your post, but I found this today and I just can’t resist sharing. Mrs. Agathe’s dishwasher quit working so she called a repairman. Since she had to go to work the next day, she told him, “I’ll leave the key under the mat. Fix the dishwasher, leave the bill on the counter, and I’ll mail you the check. Oh, and by the way…don’t worry about my Doberman. He won’t bother you. But, whatever you do, do NOT under ANY circumstances talk to my parrot!” When the repairman arrived at Mrs. Agathe’s apartment the next day, he discovered the biggest and meanest looking Doberman he had ever seen. But just as she had said, the dog simply laid there on the carpet, watching the repairman go about his business. However, the whole time the parrot drove him nuts with his incessant cursing, yelling and name-calling. Finally the repairman couldn’t contain himself any longer and yelled, “Shut up, you stupid ugly bird!” To which the parrot replied, “Get him, Spike!”
My brother and I had been just discussing this particular very topic, he’s frequently trying to prove me incorrect. Your own view on this is perfect and just how I feel. I just now mailed my brother this page to demonstrate him your current perspective. After overlooking your web log I bookmarked and will be coming back to read your posts!
I actually appreciate this level of achievement.
My buddy and I have been just discussing this particular article, she is normally attempting to prove me wrong! I will show her this write-up not to mention rub it in a little!
naklejki ścienne to wspaniałe dekoracje do mieszkania naklejki na ścianę ornamenty architektura naklejki scienne
I think youve made some truly interesting points. Not too many people would actually think about this the way you just did. Im really impressed that theres so much about this subject thats been uncovered and you did it so well, with so much class. Good one you, man! Really great stuff here.
Excellent blog post, I have bookmarked this blog so with any luck , I’ll discover more on this subject matter in the foreseeable future!
I thought I’d share a quote with you from U.G. Krishnamurti that pertains to your blog, please don’t take offense. “You assume that there is such a thing as truth, you assume that there is such a thing as reality (ultimate or otherwise) – it is that assumption that is creating the problem, the suffering for you.”
I have been searching on the web looking to get some ideas on the way to get my weblog coded, your general design and style together with theme are perfect. Did you code it your self or did you get a coder to get it done for you personally?
Hello, how could i subscribe to your RSS Feed?
Hello, Interesting thoughts, I read something similar website and click and RSS.
Thanks a ton for this, I appreciate the info
Your blog site is so helpful … keep up the great work! Also, is your wp theme a free one? and if so..can i have it?
This is my first time i visit here. I found so many fascinating stuff in your website especially its discussion. From the tons of responses on your articles or blog posts, I guess I am not the only one having all the enjoyment here! keep up the very good work.
Appreciation for yet another fantastic article. I’ve a powerpoint presentation next monday, and I will be on the lookout for this type of information and facts.
You completed several fine points there. I did a search on the subject matter and found the majority of folks will consent with your blog.
thanks amigo! great post!
You made some good points there. I did a search on the subject matter and found mainly persons will consent with your blog.
I like this blog site layout ! How do you make it!? It is very good.
If you could message me with any pointers on how you made this site look this good , I’d be thankful.
Resources like the 1 you described here is going to be quite helpful to me! I will certainly post a hyperlink to this page on my website. Seen my visitors will find that quite beneficial.
Thanks for your time in advance for your quick answer !. Very good post.
Thank you in advance for your speedy reply !. Really good article.
tuwhiQ equdlbiniujn, [url=http://ngcxhezgnnqa.com/]ngcxhezgnnqa[/url], [link=http://qcdmckdvyzke.com/]qcdmckdvyzke[/link], http://ttfchjpqlqca.com/
my 2 cents. I was doing a research and found your site. Thanks.
The Obama Presidency is often a fantastic stage. Next he should get ousted in the near future following only a individual expression, no Dumb-o-crat are certain to get rear in there to get a really prolonged time. A equivalent could perhaps be correct for an African United states Lead designer. Bigger sealed destiny of his occasion for many years.
That is really correct. I was looking for on that focus and I agree with your thoughts
I adore this website layout . How was it made. It is really good.
Amazing article, thank you, I will bookmark you soon!
You completed certain fine points there. I did a search on the topic and found nearly all persons will have the same opinion with your blog.
Strange, your article shows up with a dark hue to it, what color is the primary color on your site?
This really is such a fantastic useful resource that you’re offering and you give it absent for free. I love seeing web websites that understand the value of providing a quality useful resource free of charge. It?s the old what goes around arrives about program.
Hello everybody, This web page is excellent as well exactly how the subject had been expanded. I like some of the comments too even though I would choose we all keep it on topic to be able to add significance to the subject.