Mitchell D. Weiss

Contributor |  In Students, Personal Finance

Mitchell Weiss is an experienced financial services industry executive, entrepreneur and adjunct professor of finance at the University of Hartford. He is also the author of the recently published College Happens: A Practical Handbook for Parents and Students, Life Happens: A Practical Guide to Personal Finance from College to Career-2nd Edition, and Business Happens: A Practical Guide to Corporate Finance for Small Businesses and Professional Practices.

How to Stop a Neverending Student Loan Nightmare

Students

How to Stop a Neverending Student Loan Nightmare

How to Stop a Neverending Student Loan Nightmare

Last month, the U.S. Department of Education’s Office of the Inspector General lobbed a grenade at the federal student aid program. In a harshly critical memorandum to the Federal Student Aid’s Chief Operating Officer, the assistant inspector general condemned the agency’s repeated failure to validate the accuracy of certain subcontractor invoices before authorizing payment. These… Read More

A Tentative Step in the Right Direction on Student Loans

Students

A Tentative Step in the Right Direction on Student Loans

A Tentative Step in the Right Direction on Student Loans

Sen. Kirsten Gillibrand (D-NY) recently introduced the Federal Student Loan Refinancing Act, a piece of legislation that calls for the refinancing of all higher-rate Federal Direct and Federal Family Education (FFEL) student loans at 4% interest. She estimates that her plan will assist nine out of 10 students who borrowed under the various federal education… Read More

Why the Smarter Solution for Students Act Fails Our Kids

Students

Why the Smarter Solution for Students Act Fails Our Kids

Why the Smarter Solution for Students Act Fails Our Kids

Last week, the Republican majority in the House of Representatives passed H.R. 1911, the Smarter Solutions for Students Act. Unfortunately, it’s neither smart, nor a solution. The legislation pegs all Stafford Direct Student Loan rates (subsidized and unsubsidized) to the 10-year Treasury note, adjusted annually, plus 2.5% to cover administrative costs. Borrowers who qualify for subsidized… Read More

Higher Ed Overhaul: Sell the Buildings, Lease the Land!

Students

Higher Ed Overhaul: Sell the Buildings, Lease the Land!

Higher Ed Overhaul: Sell the Buildings, Lease the Land!

The student loan crisis deserves all the attention it has attracted — and more — especially if we’re serious about tackling this trillion-dollar tragedy in a comprehensive way. But let’s not make the mistake of focusing all our good efforts on outcomes without addressing causes as well. I’m referring to colleges and universities so under… Read More

The Big Profits Behind Student Loan Interest Rates

Students

The Big Profits Behind Student Loan Interest Rates

The Big Profits Behind Student Loan Interest Rates

If insanity is defined as repeatedly doing the same thing and expecting a different result, the student loan interest rate throwdown that’s about to be reprised in Washington, D.C., warrants an intervention. You may recall that at this time in 2012, Congress was in a lather over the subsidized student loan interest rates that the… Read More

4 Ways to Deal with Student Loan Collection Companies

Students

4 Ways to Deal with Student Loan Collection Companies

4 Ways to Deal with Student Loan Collection Companies

At the beginning of March, I authored an opinion piece in which I proposed radical changes to the higher education business model. I also put forth a plan to address the nation’s staggering student loan crisis that would hold those who helped cause the debacle economically accountable for its resolution. I started receiving emails in… Read More

The Student Debt Business: A Way Forward

Students

The Student Debt Business: A Way Forward

The Student Debt Business: A Way Forward

My daughter works for a nonprofit organization. The pay’s not great but she loves what she does. So much so that she’s now ready to take the next step in her personal career development plan — graduate school. As it turns out, though, there’s only one university nearby that offers the curriculum she needs, and… Read More

The Pitfalls of No-Interest Financing

Managing Debt

The Pitfalls of No-Interest Financing

The Pitfalls of No-Interest Financing

The New Year has come and gone, which means it’s time for the torrent of resolution-related ads for diet aids, exercise equipment and home products — furniture in particular. No doubt, you’ve heard the pitch — “No payments for 12…24…36…48 months!” It’s as if the retailers are intent on mutually assured financial destruction. Or are… Read More

6 Loans You Can Get & How to Use Them Wisely

Personal Loans

6 Loans You Can Get & How to Use Them Wisely

6 Loans You Can Get & How to Use Them Wisely

There are lots of cash-strapped consumers out there who, for all practical purposes, are closed out of many traditional credit product offerings because of the high default risk they’re presumed to represent. But that doesn’t mean the financial services industry hasn’t figured out ways to profit from their plight. After all, the “unbanked” and “under-banked”… Read More

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