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Mitchell D. Weiss

Contributor |  In Students, Managing Debt

Mitchell D. Weiss is an experienced financial services industry executive and entrepreneur, adjunct professor of finance at the University of Hartford, a member of the board of the university’s Barney School of Business and co-founder of its Center for Personal Financial Responsibility. Mitch is also the author of College Happens: A Practical Handbook for Parents and Students, Life Happens: A Practical Guide to Personal Finance from College to Career-2nd Edition, 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.

A New Deal for Student Loan Refinancing?

Students

A New Deal for Student Loan Refinancing?

A New Deal for Student Loan Refinancing?

Discover Financial Services—one of the country’s largest private higher education lenders—will soon begin offering consolidation loans to student-loan borrowers who want to refinance their debts. The company joins Wells Fargo, SunTrust Banks and RBS Citizens Financial, which are already involved in this activity. In fact, I recently received an email from a borrower who was… Read More

There’s a Better Way to Securitize Student Loans

Students

There’s a Better Way to Securitize Student Loans

There’s a Better Way to Securitize Student Loans

Loan securitizations were once a mainstay in the world of structured finance. But that was before the recent economic collapse and the financial market freeze that ensued. For a time the government intervened to support the secondary-market because of the important role it plays in the economy: by recycling existing loans to others, the originating… Read More

What to Do Before Debt Collectors Call

Managing Debt

What to Do Before Debt Collectors Call

What to Do Before Debt Collectors Call

Recently, Credit.com’s Gerri Detweiler penned a terrific article about dealing with debt collections — how the process works, the consumer protection laws that guard against abuse and what life can be like in the aftermath. If Detweiler’s article is, in a sense, the sequel to a financial crisis that led to chronic delinquency and loan-default,… Read More

The Student Loan Fix That Wasn’t

Students

The Student Loan Fix That Wasn’t

The Student Loan Fix That Wasn’t

“Going forward, the whims of Washington politicians won’t dictate student loan interest rates, meaning more certainty and more opportunities for students to take advantage of lower rates.” So spoke House Speaker John Boehner after the passage of H.R. 1911, the Bipartisan Student Loan Certainty Act of 2013. But six months after enacting a measure that… Read More

10 Ways to Fix Student Loans in 2014

Students

10 Ways to Fix Student Loans in 2014

10 Ways to Fix Student Loans in 2014

If you thought the politics behind the student loan pricing debate were contemptible, just wait until Congress takes up the reauthorization of the Higher Education Act this year. For nearly a half century, the HEA has been responsible for a variety of financial assistance programs for students and educational institutions. Title IV is arguably the… Read More

Credit Cards vs. Debit Cards: What’s Safer?

Credit Cards

Credit Cards vs. Debit Cards: What’s Safer?

Credit Cards vs. Debit Cards: What’s Safer?

The epic personal data breach at Target stores across the country was an unhappy Christmas surprise for consumers: an estimated 40 million shoppers’ account numbers were stolen by hackers. While there remain many unanswered questions—how something like this could have happened and why it took so long for Target to discover and report the crime,… Read More

Should You Ask Your Boss for a Loan?

Managing Debt

Should You Ask Your Boss for a Loan?

Should You Ask Your Boss for a Loan?

As if high-rate, short-term loans don’t mess with enough household budgets, the financial services industry has come up with a new way to mess with even more. According to a recent Wall Street Journal article, a growing number of nonbank consumer-lending institutions have been busy signing up legions of new borrowers in the most obvious,… Read More

A National Standard for Short-Term Loans?

Managing Debt

A National Standard for Short-Term Loans?

A National Standard for Short-Term Loans?

Short-term loans are marketed under all kinds of labels: payday, bill-pay and deposit-advance loans. But no matter the name, the premise is always the same: consumers in need of a quick cash fix agree to swap next week’s deposit — whether in the form of a payroll check or some other recurring source of income… Read More

The 25% Strategy to Budgeting

Personal Finance

The 25% Strategy to Budgeting

The 25% Strategy to Budgeting

For most people, balancing personal budgets is a tedious and time-consuming process. These days, though, the task has become even more challenging. According to the Federal Reserve, average household debt in the U.S. increased 5.25% during the quarter ending Sept. 30, which isn’t surprising given that annualized real (net of inflation) wage growth continues to… Read More

Student Loans… But Only for Some

Students

Student Loans… But Only for Some

Student Loans… But Only for Some

I recently read a disturbing article in a financial-industry publication. In it, the writer attempts to explain why so few student loans have been refinanced at a time when mortgage borrowers have had little trouble accomplishing the same. This has been the case despite education loan delinquency and default rates that are not only compromising… Read More

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