Lightening the Load for Student Loan Borrowers

LIGHTENING THE LOAD FOR STUDENT LOAN BORROWERS STUDENT LOAN DEBT 101 40 MILLION That's more than 4 times the population of Sweden Americans have student loan debt STUDENT LOAN DEBT CAN'T BE DISCHARGED IN BANKRUPTCY Even gambling debts can be erased! AVERAGE DEBT HAS STUDENT INCREASED LOAN DEBT IS STALLING WHILE WAGES HAVE MAJOR LIFE DECREASED MILESTONES Since 2000, average salary for young people is down 10% Grads are delaying marriage, kids, houses, and cars THE GOVERNMENT PROFITS FROM STUDENT LOAN DEBT In 2013, the government made $50 billion on student loans Studying Student Loan Restructuring 2014: PRESIDENT OBAMA SIGNED EXECUTIVE ORDER TO MAKE REPAYMENT EASIER Changes include: Expansion of Pay As You Earn (PAYE) option Incentives for loan companies to help prevent defaults Interest rates capped at 6% for military members New communication DECEMBER strategies to educate borrowers DECEMBER, 2015 IS THE TARGET IMPLEMENTATION DATE FOR CHANGES INFOGRAPHIC PROVIDED BY: PAULMAN OFFICES Shulman Law Offices www.sanjosebankruptcy.com Sources: http://blogs.wsj.com/numbers/congatulations-to-class-of-2014-the-most-indebted-ever-1368/ http://www.huffingtonpost.com/kyle-mccarthy/10-fun-facts-about-student-loan-debt_b_46390 44.html http://www.usnews.com/education/blogs/student-loan-ranger/2014/06/11/4-must-know-facts-a bout-obamas-new-student-loan-plan http://www.whitehouse.gov/the-press-office/2014/06/09/factsheet-making-student-loans-more -affordable %24