Unsecured Debt + Medical Debt + Credit Card Debt + Student Loan + Business Debt + Taxes

Student Loans and Bankruptcy - Observations 2

Submitted by asg on Mon, 09/05/2011 - 11:58am

A History of Student Loans

Student loans used to be provided by colleges directly. This change right after World War II. The federal government introduced the G.I. Bill, which promised a year of education for every 90 days of service and a 1 to 1 ratio between education and active-duty months up to a maximum of 48 months.

Andrew Gustafson's blog

Student Loans and Bankruptcy - Observations

Submitted by asg on Mon, 09/05/2011 - 11:19am

Student loans are ballooning. At four-year colleges and universities, more than two thirds of students have them. An average amount as of 2008 is over $23,000. Almost all students who go to private universities have student loans.

These statistics are made worse when you realize that they are just for federal student loan debt and do not count private student loans.

Andrew Gustafson's blog

Eliminate Your Medical Debt

Unexpected debts from medical bills can happen to anyone.

Medical Bills Debt in Northern California

If you are struggling with medical bills, you are not alone. In fact, the average out-of-pocket medical costs for all medically bankrupt families was $17,943 (American Journal of Medicine, 2009).

Eliminate Your Credit Card Debt

Credit card debt can happen to anyone.

Credit Card Debt in Northern California

If you are struggling with credit card debt, you are not alone. In fact, the average American household has $8,329 in credit card debt (Nilson Report, April 2009). With the unemployment rate at 9.5%, many Americans are using their credit cards to help make ends meet.