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NACBA Request
In response, and in furtherance of what should be the purpose of the
article, I would like to see some investigative report that considers
the following:
(1) whether there is a relationship between the lifting of financial
lending criteria for student loans and an increase in student loan
defaults;
(2) whether there is a relationship between the increased access to
student loans and the dollar amount and number of student loans to
"student loan" colleges, and the default rate arising therefrom;
(3) whether the increased dollar amount and volume of student loans is
a further example of Wall Street's exploitation of the consumer at the
expense of the consumer, while the downside risk is guaranteed by the
public; and
(4) whether the House Education Committee, which I believe District
25's Howard "Buck" McKeon (same as Howard & Phil's Western Ware BK
before Judge Greenwald), had been chair, allowed private lenders to
raise interest rates as a means to attract more lenders, while at the
same time increasing interest rates was not reflective of increased
risk since such loans are guaranteed.
Thanks, Lou Esbin
>
> Date: Wed, Mar 19, 2008 at 12:50 PM
> Subject: US News & World Report request
> To: barbara.andelman@...
>
>
>
>
> Hi. I'm a writer for US News & World Report. I'm preparing an
article about
> financing college. I wondered if any of your members might be
interested in
> helping me find out what impact the downturn in the real estate
market and
> the growing economic problems are having on folks who have kids who
are in
> college, or who are about to go to college. For example, many
families used
> to be able to take a home equity loan to cover college costs. But as
home
> values decline and credit dries up, that's less of an option. In
addition,
> some federal education loans, such as parent PLUS loans are not
awarded to
> parents who have bad credit. So, many financing options that might
have been
> available a year or so ago may be off the table. I wondered if it
might be
> possible to send an email to your members to see if they have any
clients
> facing financial difficulties such as loss of home equity, mortgage
reset,
> unemployment, etc., who are also dealing with college costs. We'd
love to
> hear about how they are handling these problems. We're especially
interested
> in hearing advice from attorneys or clients who have managed to fund
their
> children's college despite financial difficulties.
>
> Thank you very much,
>
> Kim Clark
> Senior Writer
> US News & World Report
> 1050 Thomas Jefferson St. NW
> Washington, DC 20007
> Office: (202) 955-2064
> Cell: (202) 253-8593
> KClark@...
>
>
> David A. Tilem
> Certified Bankruptcy Specialist*
> Law Offices of David A. Tilem (a debt relief agency)
> 206 N. Jackson Street, #201, Glendale, CA 91206
> Tel: 818-507-6000 Fax: 818-507-6800
>
> * Bankruptcy specialist cert. by State Bar of CA Bd of Legal
> Specialization.
> Business bankruptcy specialist cert. by Amer. Bd. of Certification
>
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