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Alan Collinge
Alan Collinge

484 Followers

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Why Biden’s Student Loan Cancellation will Cost Taxpayers Nothing.

The taxpayers have been repaid. All federally owned loans, in fact, could be cancelled at little- or no cost to the taxpayers. Over the past two years, beltway defenders of the federal student loan program have overwhelmed the mainstream media with articles and essays nearly shrieking that student loan cancellation…

Student Loans

6 min read

Why Biden’s Student Loan Cancellation will Cost Taxpayers Nothing.
Why Biden’s Student Loan Cancellation will Cost Taxpayers Nothing.
Student Loans

6 min read


Pinned

The Government makes a Profit on Defaulted Student Loans.

A defining hallmark of a predatory lending system. In 2010, we found that the federal government was making a profit, not a loss, on defaulted student loans. This is a claim that no other lender for any other type of loan (including governmental loans) can make. More recent White House…

Student Loans

5 min read

The Government makes a Profit on Defaulted Student Loans.
The Government makes a Profit on Defaulted Student Loans.
Student Loans

5 min read


Pinned

Nearly 1-in-5 U.S. Adults are Distressed Student Loan Borrowers.

They had either stopped paying, or were paying but with increasing loan balances before the pandemic. This article was updated on 2/16/23 * There are about 43.4 million federal student loan borrowers. According to former Federal Student Aid Chief, Wayne Johnson, 85% of these borrowers were either not paying (over…

3 min read

Nearly 1-in-5 U.S. Adults are Distressed Student Loan Borrowers.
Nearly 1-in-5 U.S. Adults are Distressed Student Loan Borrowers.

3 min read


Pinned

Why returning Bankruptcy Protections is critical for solving the Student Loan Problem.

The removal of constitutional bankruptcy rights is the core issue. During the 1700’s, American colonists- including George Washington, Thomas Jefferson, Robert Morris, and others- were being treated poorly under debt- typically to British banks, trading companies, and other investors. In fact, the issue of debt was so concerning to the…

5 min read

Why returning Bankruptcy Protections is critical for solving the Student Loan Problem.
Why returning Bankruptcy Protections is critical for solving the Student Loan Problem.

5 min read


Pinned

The Vast Majority of the Federal Student Loan Portfolio is Profit.

The loans can be cancelled entirely at little- or no- cost to the taxpayers. For decades, student loan interests- both inside and outside of government- have been claiming that the federal student loan program has been a cost to taxpayers. More recently, they are claiming that cancelling federal student loans…

8 min read

The Vast Majority of the Federal Student Loan Portfolio is Profit.
The Vast Majority of the Federal Student Loan Portfolio is Profit.

8 min read


Dec 4, 2022

Much at Stake for Democrats with Student Loans and Bankruptcy.

They betrayed the people in ’08 and in the Lame Duck of ‘10. They’re on the verge of doing it again. The Founders- including many who were being financially exploited by British banks, trading companies, and others- called for uniform bankruptcy laws ahead of the power to raise an army…

Student Loans

5 min read

Much at Stake for Democrats with Student Loans and Bankruptcy.
Much at Stake for Democrats with Student Loans and Bankruptcy.
Student Loans

5 min read


Nov 17, 2022

“New Bankruptcy Process” is a Cruel Joke on Student Loan Borrowers.

Undue Hardship remains, is only transferred from open court to the bowels of the Administrative State. On November 17th, 2023, the Departments of Justice and Education unveiled their long-awaited plan to stop opposing student loan borrowers in bankruptcy court. …

4 min read

“New Bankruptcy Process” is a Cruel Joke on Student Loan Borrowers.
“New Bankruptcy Process” is a Cruel Joke on Student Loan Borrowers.

4 min read


Aug 25, 2022

Biden’s Loan Cancellation Plan is Vague, Tricky, unimpressive.

The Department of Education will find ways to not cancel loans The Biden Administration announced a federal student loan cancellation action today. …

6 min read

Biden’s Loan Cancellation Plan is Vague, Tricky, unimpressive.
Biden’s Loan Cancellation Plan is Vague, Tricky, unimpressive.

6 min read


Aug 16, 2022

The Government has Made, not Lost Money on Student Loans.

All federally owned loans could be cancelled entirely, and the government would lose little or nothing. The General Accounting Office (GAO) recently published a report claiming that the federal Direct Student Loan program was, on balance, a cost to the federal government, rather than an income source as was previously…

7 min read

The Government has Made, not Lost Money on Student Loans.
The Government has Made, not Lost Money on Student Loans.

7 min read


Aug 11, 2022

GAO Study claiming Government Losses on Federal Student Loan Program is flawed, deceptive.

Disqualification of 99% of borrowers from IDR plans, and the profitability of defaulted loans render the study completely false. The General Accounting Office (GAO) recently published a report claiming that the federal Direct Student Loan program was, on balance, a cost to the federal government, rather than an income source…

Student Loans

7 min read

GAO Study claiming Government Losses on Federal Student Loan Program is flawed, deceptive.
GAO Study claiming Government Losses on Federal Student Loan Program is flawed, deceptive.
Student Loans

7 min read

Alan Collinge

Alan Collinge

484 Followers

I am Founder of StudentLoanJustice.Org, author of The Student Loan Scam (Beacon Press), and creator of the petition Change.Org/CancelStudentLoans

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