This week 60 Minutes aired a student loan story about a Home Depot founder who donated hundreds of millions and raised additional funds to make NYU’s medical school tuition free. While this was a great story, and a compassionate thing to do to ensure that the lower paid physician fields such as general practice and internal medicine draw new doctors in today’s world where it costs several hundred thousand for medical school, still the impact is minimal if you look at the landscape of 1.5 trillion dollars of student loan debt out there.
A better overview of the enormity of the student loan debt bubble, how we got here, and possible solutions, check out the student loan story on the Patriot Act by Hasan Minhaj, airing on Netflix.
A clip with me about Navient appears 8 minutes in, another of our Florida client’s news story about losing her medical LPN license when in default on her federal loans was quickly on in the beginning, and another client spoke of his denial of PSLF, and our class action against Navient for misleading people into believing they qualify for PSLF is 16 minutes in. It’s only a ½ hour show – talks about the recent IG audit too: 61% of the time when dealing with your student loans, the federal student loan servicers screw up. The story focuses on the fact that the Department of Ed is the biggest lender out there, isn’t prepared to be, and how horrible of a job the servicers do and that student loan debt is now more than vehicle and credit card debt combined etc. Here’s a link on YouTube – it’s well worth the watch: