A number of American college students believe a college degree is absolutely necessary in order gain successful employment and financial stability for the present and into the future. The reality, however is that numerous college graduates can’t find a good job and end are faced with an overwhelming student debt. More than 10 million are crippled by significant student debt and numbers continue to escalate to approximately 1.3 trillion dollars.
The hopeful news for students now facing this crisis comes in new laws that have caused some to challenge their college and universities with failure to live up to their promises of success. The University of Phoenix, owned by the Apollo Group, was targeted in July of 2015 by the FTC. They face a Civil Investigation that will determine if the college participated in deceptive advertising, marketing or sales claims.
Use this number (855) 500-9007 to receive information and automatic and free Approval toward the Student Loan Forgiveness and Reduction of Payment Programs being offered.
With the spiraling increase in student loan and high unemployment rates in the United States, experts are concerned. Though the unemployment rate has decline over the years to 7.2 percent in 2015, statistics reveal that unemployment among young college grads is also 7.2%. This indicates students with college degrees have the same unemployment as non graduates. In fact, the Washington Post revealed through their investigation of this matter, that Phoenix University graduates had a higher rate of unemployment.
Statistical Data of Labor Force and Present Population.
The new law which is titled 34 CFR 685.206 (c), states that individuals with student debt might qualify for a reduced or complete tuition refund or entitled to exemption status on loan repayment if they face an extended period of unemployment following graduation.
If the defense against repayment is successful, the secretary tells the borrower that he is relieved of the requirement to repay all fees that the borrower would otherwise be obligated to pay,” the law reads. “The secretary extends the borrower such relief as the secretary decides is appropriate in the situation.
This number (855) 500-9007 can lead you to receive information and automatic free Approval toward the Student Loan Forgiveness and Reduction of Payment Programs being offered.
Court trials regarding student debt are not the only indication that assistance might be on its way for those that suffer from student loan debt. Many politicians, State representatives, and the President himself have spoken about the importance of creating an affordable college opportunity for every young American.
One of the programs that the Obama Administration put forth in December was a Bill that allowed student loan borrowers with deficient income to apply for forgiveness of debt or to Pay as you Earn.
President Obama declared that we needed to “make college affordable” to all Americans. He went on to state that hardworking individuals should not have to go in major debt. Consequently, the initial step was to reduce a student loan payment to a 10 percent amount of the borrower’s income. Additionally, he wants to reduce the cost.
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