College graduates and current students are swimming in a sea of debt. As of this writing, the total amount of outstanding student loan debt has been estimated at $960 billion. The Occupy Student Debt movement, inspired by Occupy Wall Street, has suggested that all student loan debt should be forgiven. As a starting point, members of the movement…

Since the 1940s, public officials at the local, state and federal levels have used student loan forgiveness programs to attract individuals to critically needed occupations and underserved communities. In exchange for a work commitment, the loan program forgives (or repays) an amount of the employee's student loan. Traditionally, these programs…

Provisions of the U.S. Bankruptcy Code that affect the right of colleges to withhold transcripts as a means of collecting student debts are considered. Automatic stay provisions state that the filing of a petition for bankruptcy relief prohibits actions to collect obligations of the debtor. The discharge injunction provides that once a discharge…

Perspectives on defaults occurring under the two major federal student loan programs, Guaranteed Student Loans (GSL) and National Direct Student Loans (NDSL), are presented. Attention is directed to differences in the size and mode of operation of these programs, the extent and costs of default, comparisons with other types of loans, and the…

The Bankruptcy Reform Act specifically prohibits discharge of educational loans. This statutory exception is discussed and information is provided for lawyers handling loan collection. The anomalous situation created by the chapter that does not specifically discharge educational debt is also described. (MSE)

The use of a student loan secondary market by a lender under the federally guaranteed Stafford Student Loan Program can be a shock to a student unfamiliar with the role secondary markets play. The first student loan secondary market (Student Loan Marketing Association, or Sallie Mae) was created in 1973. (MLW)

Present law respecting collection of federal student loans, regulatory and other sanctions against default, and strategies against bankruptcy are outlined and analyzed. (Journal availability: Columbia Journal of Law and Social Problems, Box 7, Columbia University School of Law, 435 W. 116th St., New York, NY 10027, $5.00.) (MSE)

A court ruling in the Girardier v Webster College case, that a college or university may validly refuse to issue transcripts to former students who have not repaid their educational loans and who have discharged those obligations through bankruptcy, is discussed along with some related cases. (Author/MLW)

Student loan debt levels are discussed in relation to borrowing patterns, educational opportunity, and cost-effectiveness of a college education; and common concerns about debt level are examined. It is concluded that while student indebtedness is high, these concerns are out of proportion to reality and reflect inappropriate assumptions about…

Because college costs will continue to increase dramatically, educational loan programs will become more important in the financial package. An efficient, national student loan program that will guarantee access, choice, and fairness is what is needed. (MLW)

Suggestions for changes administrators can make to assist students in debt management include (1) administrator willingness to expand his/her role and help other officials accept the change; (2) establishment of programs in financial counseling, debt management, and debt counseling; and (3) exploration of creative ways to finance educational…

Students who have their National Direct Student Loans or Guaranteed Student Loans discharged under federal bankruptcy law may encounter difficulty obtaining college transcripts, and should be counseled on these problems. Available from University of Louisville, 2301 Third St., Louisville, KY 40208; $4.00. (MSE)

This General Accounting Office (GAO) testimony before the Subcommittee on Postsecondary Education, Committee on Education and Labor, House of Representatives, concerns the findings of the task force that addressed the increasing costs of student loan defaults. The task force report is considered, generally, to provide additional incentives and…

Policy modifications by postsecondary, business, and banking institutions are suggested to make small loans readily available to adult learners for higher education. The author focuses on middle-income adult students with an interest in career mobility in examining existing student loan programs, deferred tuition plans, and adult repayment rates.…

The question of a balance in the supporting roles of students and families, governments, and institutions in college financing is discussed. In the context of that analysis, the question is then whether the current student aid system is the most cost-effective and fair way of meeting national needs. (MLW)