Basically there is no paper trail illustrating who currently owns your loan, this fact makes it near impossible for the debt collection company to prove the
validity of a private student loan debt.
National Collegiate Student Loan Trusts (NCSLT), the largest
owner of private student loan debt, has made its way into the news, and this time, it is not great for the investment vehicle group.
When the Commission on Bankruptcy Laws in the United States was formed in 1970 to study ways to reform the bankruptcy system, the modern day
problems of private student loan debt and out of control tuition were yet to materialize.
This is one of the best reasons students with a significant
amount of private student loan debt should consider taking out a life insurance policy large enough to cover the costs of their student loans and any interest accrued.
If you have a
ton of private student loan debt, would love to consolidate it and get lower rates, and have a healthy financial profile, look no further than Earnest.
The reason why students are often confused with whether or not a Sallie Mae student loan is private or federal is because in 2008 our congress approved the Ensuring Continued Access to Student Loans Act where the government took over 112 - billion dollars
worth of private student loan debts (commercially originated debt).
As mentioned earlier, Occupy Student Debt eliminated $ 3.8 million worth
of private student loan debt.
I had $ 52,000
of private student loan debt.
The interest rate on margin balances with my broker is 1.58 % right now, so I could borrow another 12K, withdraw my 24K from my brokerage account, and significantly pay down
some of my private student loan debt and in fact pay off some of the debt with the highest interest rate.