The Consumer Financial Protection Bureau has announced a plan to provide additional oversight for student loan collections practices, helping to ensure that borrowers with student debt are not subject to the stress and difficulty of dealing with disorganized creditors.
Across the country, and right here in Memphis, students are returning to college after a long break. However, the Federal Reserve reports that more students have student loan debt and few debt management solutions.
More and more students all across the country and right here in Memphis go to college and continue to graduate with more and more loan debt. However, with few debt management solutions available, more students worry about their loan's effect on their credit card debt.
In Memphis and elsewhere, college students are using credit cards to pay for food, clothing and books. Unfortunately, through all of the shopping, students rack up credit card debt that may present financial hardships when the credit card bills begin to mount. This may not only affect college students, it may also affect their parents who co-signed for the credit cards.
Memphis students continue to graduate with more and more loan debt. Because student loans normally cannot be discharged in bankruptcy and must be repaid, sometimes students may find that they have few options for long-term debt relief.
Student loan debt all across the country and right here in Memphis, Tennessee, continues to grow. New estimates suggest that one in five houses has student loan debt over $26,000. As loan debt grows more and more, debt management will become more important in providing debt relief for students.
More and more students here in Memphis and across the country are going to college and taking out loans. Unfortunately, many find themselves struggling with debt management. As the student loan crisis continues to grow, people are in search for more options for debt relief.
Nowadays, more and more students are taking out loans, and while other types of debt are being paid back, student loans are not. It is clear that students are struggling with debt management and need debt relief.
With more and more students going to college and more and more students taking out loans, students are struggling with debt management. With more students struggling with debt management, many believe that schools should take a more active role.
Students all around the country and right here in Memphis, Tennessee face growing student debt. Many students are concerned about debt management after they graduate from college. As more and more students graduate with debt, more and more organizations are coming out to try to help students.