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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 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.

5 Reasons Why You Might Not Want to Refinance Your Federal Student Loans

Students

5 Reasons Why You Might Not Want to Refinance Your Federal Student Loans

5 Reasons Why You Might Not Want to Refinance Your Federal Student Loans

Many private student lenders are making a big push for a piece of the student loan refinancing pie. Banks and venture capital-backed nonbank financial services companies are hard at work slicing and dicing that trillion-dollar market into bite-size, demographically based refinancing opportunities. Their primary targets? Borrowers who have the best longer-term earnings potential because of... Read More

The Student Loan Default Rate Is Way Worse Than You Think

Students

The Student Loan Default Rate Is Way Worse Than You Think

The Student Loan Default Rate Is Way Worse Than You Think

The Wall Street Journal’s Josh Mitchell recently authored an article in which he calls attention to the roughly 16% student loan debt default rate, as measured in terms of number of borrowers. That data point, by itself, is extraordinarily high. In proper context, it’s calamitous. At $125 billion in aggregate value, these defaulted loans represent... Read More

Why All Government Student Loans Are Not Created Equal

Students

Why All Government Student Loans Are Not Created Equal

Why All Government Student Loans Are Not Created Equal

The timing of an article in The New York Times couldn’t have been more ironic. There we were, the day before we celebrate America’s Declaration of Independence, and the Times published an exposé on the hardball tactics that the State of New Jersey allegedly takes against student-loan borrowers who are unable to continue making their... Read More

Are LendingClub’s Troubles Bigger Than Just One Company?

Personal Loans

Are LendingClub’s Troubles Bigger Than Just One Company?

Are LendingClub’s Troubles Bigger Than Just One Company?

The spin factory is working extra shifts these days. No, I’m not talking about the upcoming presidential election. Rather, I’m referring to the surprisingly quick and robust efforts on the part of financial services industry advocates to regain control of the narrative following a so-called FinTech (financial technology) poster child’s fall from grace. LendingClub Corporation... Read More

Op/Ed: Student Borrowers Will Continue to Struggle Despite the CFPB’s Efforts

Students

Op/Ed: Student Borrowers Will Continue to Struggle Despite the CFPB’s Efforts

Op/Ed: Student Borrowers Will Continue to Struggle Despite the CFPB’s Efforts

The financial services industry erupted earlier this month, soon after the Consumer Financial Protection Bureau published a set of proposed rules for limiting the use of forced arbitration clauses by broad range of entities, including certain providers of financial products and services. This longstanding practice, whose origin dates back to 1925, of incorporating language that... Read More

Do Student Loan Servicers Expect to Be Sued?

Students

Do Student Loan Servicers Expect to Be Sued?

Do Student Loan Servicers Expect to Be Sued?

“Maybe it’s because those who know won’t and those who don’t can’t.” Such was my response to a colleague who, after reading a recent article in the Huffington Post on yet another legal action taken against a student loan servicing company for alleged unfair and abusive practices, asked why there’s little, if any, talk about... Read More

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