Investigation in Abuse in Student Debt

People at the Investigative Fund along with college students from Columbia University are investigating student lending and the debt industry. 

Did you know that Americans took out 95 billion dollars in student loans last year?  On the average college students have about $23,000 in loans to repay right out of college.  Sometimes repaying this debt can be difficult due to the economic problems and this tough job market.

They are interested in hearing if you – or someone you know – have had problems dealing with your debt collector and are also interested in your dealings with the government’s mediator, known as the Department of Education's Ombudsman office.  Your stories and tips will help them investigate.
Some debt collection companies, according to lawsuits, have violated federal rules that prohibit contacting graduates through late-night phone calls and threatening letters. Students are also encountering problems with their lenders– such as lost payments, shifting interest rates, or disputes about the total amount owed.

When these problems occur, the government is supposed to be a resource for independent, neutral mediation. Some of the most difficult complaints for the government to resolve come from former students trying to discharge their student loans due to disability, according to the Department of Education's  2009 Annual Report on federal student aid.

Something needs to be done with the student loan debt of America.  Our young children are being buried alive with debt before the age of 25.  Contact Jeff Suher if you are a PA consumer having debt collection issues with student loan debt.  And answer this report, it may make a difference to this investigation.