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Mitchell D. Weiss

Contributor |  In Students, Managing Debt

Mitchell D. Weiss is an experienced financial services industry executive and entrepreneur. He is an Executive in Residence at the University of Hartford, a member of its business school’s board and co-founder of the university’s Center for Personal Financial Responsibility. His books include Life Happens: A Practical Course on Personal Finance from College to Career
and Business Happens: A Practical Guide to Entrepreneurial Finance for Small Businesses and Professional Practices—both of which are now undergraduate courses that Mitch teaches at the university and elsewhere.

Lower-Cost Student Loans? Not Really.

Students

Lower-Cost Student Loans? Not Really.

Lower-Cost Student Loans? Not Really.

Auctions of U.S. Treasury notes and bonds don’t usually attract a lot of attention unless we are in the midst of tumultuous times or when the lending rates for a pretty important loan program are indexed to one of these. At nearly $1 trillion and counting, the Federal Direct Student Loan program deserves all the… Read More

Student Loan Servicers Aren’t the Only Problem…

Students

Student Loan Servicers Aren’t the Only Problem…

Student Loan Servicers Aren’t the Only Problem…

The Consumer Financial Protection Bureau announced Thursday that it’s launching a public inquiry into student loan industry practices that make repayment “a stressful or harmful process for borrowers.” So, in its search for ways to make that repayment process something other than today’s less-than-awesome experience, the bureau is soliciting comments on student loan servicing policies,… Read More

The Student Loan Realities We Can’t Ignore Anymore

Students

The Student Loan Realities We Can’t Ignore Anymore

The Student Loan Realities We Can’t Ignore Anymore

An alternate view on student-loan payment performance data is challenging the prevailing narrative that tends to greatly downplay the problem. In his recent Wall Street Journal column, Josh Mitchell correctly observes that after accounting for the fact that only half of all student loans are actually in repayment (the other half are deferred because the… Read More

Corinthian’s Failure Is the Government’s Failure, Too

Students

Corinthian’s Failure Is the Government’s Failure, Too

Corinthian’s Failure Is the Government’s Failure, Too

No doubt you’ve heard the news: Corinthian Colleges has flipped the switch, leaving its 16,000 current students in the dark. The for-profit “career college,” headquartered in Santa Ana, Calif., had been the subject of student and staff complaints, investigations by numerous state attorneys general, the Consumer Financial Protection Bureau and the Securities and Exchange Commission…. Read More

How Not to Blow a Financial Windfall

Managing Debt

How Not to Blow a Financial Windfall

How Not to Blow a Financial Windfall

The Wall Street Journal recently published a story about two people who were awarded substantial financial settlements for injuries and hardships, only to lose it all not long afterward. In each case, the person had sacrificed a good portion of his structured settlement — recompense that’s typically designed to be paid over time — to… Read More

5 Things We Can Do Now to Solve the Student Loan Problem

Students

5 Things We Can Do Now to Solve the Student Loan Problem

5 Things We Can Do Now to Solve the Student Loan Problem

The U.S. Department of Education recently unveiled a new and improved methodology for calculating student-loan payment delinquencies. Where it once figured the late-payment rate of student loans as a whole to be 17%, the department has now determined that when the same data is expressed in terms of individual borrowers, it’s as high as 38%…. Read More

Does a Lower Loan Payment Come at a Big Cost?

Personal Finance

Does a Lower Loan Payment Come at a Big Cost?

Does a Lower Loan Payment Come at a Big Cost?

Are we looking at yet another consumer bubble? The stock market is up, inflation is down, and although wages have not yet returned to their pre-crash levels, household incomes are beginning to gain ground. So when the Federal Reserve Bank of New York recently reported a $117 billion increase in aggregate household indebtedness, some viewed… Read More

Why Student Borrowers Deserve the Same Tax Break As Homeowners

Students

Why Student Borrowers Deserve the Same Tax Break As Homeowners

Why Student Borrowers Deserve the Same Tax Break As Homeowners

At a time when bipartisanship seems quaint, Senators Dean Heller (R-Nev.) and Debbie Stabenow (D-Mich.) appear to have set aside their ideological differences long enough to collaborate on legislation that would extend the Mortgage Forgiveness Debt Relief Act. Soon after the housing market collapsed, lenders reluctantly began modifying mortgages by abating interest and forgiving loan… Read More

The Government Fires a Few Debt Collectors, But Completely Misses the Point

Students

The Government Fires a Few Debt Collectors, But Completely Misses the Point

The Government Fires a Few Debt Collectors, But Completely Misses the Point

Some surprising news on the student-loan front: The U.S. Education Department announced that it would terminate the contracts of five of its 22 debt-collection company subcontractors. Per the department’s press release, the soon-to-be ex-collectors made “materially inaccurate representations to borrowers about the [government’s] loan rehabilitation program” and also what borrowers could expect to be reflected… Read More

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