Student Loan Crusade

Student loan prices are set to double on July 1, 2013.  With the average borrower now graduating with $26,000.00 in debt, and with student debt outpacing credit card debt, Senator Elizabeth Warren has introduced legislation to allow students to borrow funds at the same rate that the “big banks” pay – 0.75%.  This would mean that the rate on July 1, 2013 would be 6.05% less.

Whether or not the legislation will succeed is a question for prognosticators.  The fact that the legislation is being pushed is a sign that there is something about the student loan system that needs to change.  Borrowers frequently feel overwhelmed and powerless to do anything.  Student loan delinquency rates are high, partially because of this sense of hopeless.

While Congress fights on how to make changes, the good news is that there are options.  A dedicated group of attorneys has studied the maze of student loans and is armed and ready to help consumers take back control.