How Elizabeth Warren Beat A Student Loan Giant

The Huff Post reports

Two years ago, Sen. Elizabeth Warren demanded to know why a government-sponsored bank meant to expand homeownership was instead lending money on the cheap to student loan company Sallie Mae, boosting its profits at the public’s expense.

Last week, the Massachusetts Democrat achieved a quiet victory after the Federal Home Loan Bank of Des Moines restricted Sallie Mae offshoot and student loan giant Navient Corp.’s access to ultra-cheap funds — causing stock in the company to plummet and demonstrating the unique ability of one of the Senate’s most liberal lawmakers to influence the bottom line of one of the nation’s largest publicly traded companies.

Navient shares have fallen more than 10 percent this week,  after the companydisclosed the Des Moines bank’s Dec. 22 move to investors on Monday morning. The stock has plunged 48 percent this year.

How Elizabeth Warren Beat A Student Loan Giant

SB 396 :: Oregon Now Allows Federal Exemptions, Adds Exemption for Medical Savings Accounts

 Oregon Opts In

Federal Bankruptcy Exemptions now allowed in Oregon Bankruptcies

On July 1, the Governor of Oregon signed into law SB 396, which contains a provision allowing Oregon debtors to select federal exemptions during bankruptcy.  The legislation takes effect immediately. Senate Bill 396 also modifies the Oregon Bankruptcy Exemptions exempts from execution debtor’s right to assets held in, or right to receive payments under, medical savings account or health savings account.

SB 396 :: Oregon Legislature Bill Tracker – Your Government – The Oregonian.

 

Here is the text of the bill, hilighting the new provisions in underline italic [Read more...]

Private Student Loan Bankruptcy Fairness Act of 2013 (H.R. 532) – GovTrack.us

Private Student Loan Bankruptcy Fairness Act of 2013 (H.R. 532) – GovTrack.us.

Fairness for Struggling Students Act of 2013 (S. 114) – GovTrack.us

Fairness for Struggling Students Act of 2013 (S. 114) – GovTrack.us.

Student Loan Relief – NYTimes.com Op Ed

Student Loan Relief – NYTimes.com Opinion piece.

A law professor urges passage of a bill to make the loans dischargeable in bankruptcy.

Senator Richard J. Durbin of Illinois and Representative Steve Cohen of Tennessee have introduced legislation (S. 114/H.R. 532) to make private student loans dischargeable in bankruptcy, as they were until 2005. This would be the quickest way to push private student lenders to develop relief programs for borrowers who are unemployed, ill or otherwise unable to pay and who need deferments, furloughs and income-based repayment plans to avoid default and its severe consequences.