More than one million people defaulted on their student loans last year, compared to
just 400,000 the year before.
Overall, student loan debt has reached nearly $1.5 trillion.
That's equal to the entire GDP of Canada.
There's no question this crisis is spiraling out of control for students that are unable
to pay back the increasingly outrageous college tuition prices.
If the current default rate continues, we're looking at 25% of all borrowers actually defaulting
on their loans by next mid-term election.
So is there any way out of this problem?
Joining me now to talk about it, is Adam Minsky, he's an attorney who specializes in student
loan cases.
Adam, what are the main reasons that student loan debt, this is an incredible number, $1.5
trillion, really?
How has it gotten there?
Yeah, it's certainly a combination of factors.
I think part of it is the runaway increases in tuition at both private and public institutions.
I think part of it as well, is the increased access to borrowing, both in terms of private
and federal loans, coupled with a withdrawal of public investment in higher education,
which has shifted the financial burden and responsibilities onto borrowers and their
families.
According to a new report by the Consumer Financial Protection Bureau, complaints to
the Bureau about student loans have increased by about, I think the number's 325%, that's
just between March of 2016 and I think, February of 2017.
Why do you think that is?
What's going on out there?
Because I got to tell you something, the typical American doesn't know that we have a bubble
that is potentially bigger even, than the last bubble that we went through with real
estate.
What is your take?
In terms of those complaints, they're almost entirely against servicers.
Servicers are often not the actual lender.
This is certainly true of federal student loans where the lender is often the Department
of Education, which then farms out the servicing operations to some private companies that
then handle borrower accounts.
A lot of the complaints are against those types of companies that handle borrower accounts
on behalf of the original lender.
Servicing in the student loan world, has been an absolute mess, to be quite frank, since
I started doing this work many years ago.
I think the reason for the recent spike is simply because the Consumer Financial Protection
Bureau has been doing more and more high profile work in this area, and people have become
more aware of the existence of the CFPB and its complaint system.
And so I don't think it's necessarily an indication that things are worse with student loan servicing,
they've been bad for quite a while, I think it's indicative of the fact that people now
have a place where they can go to file a complaint.
Well there are about eight million Americans that are now in default on their student loans,
last number I saw.
What are the legal options?
What options do they have to get back on track, whether they hold a private or a public loan?
What can these people do?
Because you're hearing constantly this problem seems to be getting worse and worse, so what
does a person do if they're holding a loan like that?
It really does depend on the type of student loan that the borrower has.
For federal student loans, which comprise the vast majority of that 1.4 or $1.5 trillion
in outstanding student debt, there are statutory options available to borrowers that allow
them to resolve their defaults.
There is usually two different options, they can rehabilitate their loans, which is a temporary
payment plan tied to the borrower's income and financial circumstances.
In some cases borrowers can also take out a federal consolidation loan, which resolves
the default in the course of combining their loans into one.
Borrowers might also be able to settle, although federal student loan settlements can be quite
expensive.
For private student loans, there usually are not options to rehabilitate, with some exceptions,
and you can't take out a federal consolidation loan to pay off defaulted private loans.
So borrowers who have defaulted private loans often have fewer options that usually involve
some sort of settlement arrangement or raising defenses to a collections action, for instance,
if the lender waits too long to sue them, they might be able to raise a defense based
on the statute of limitations.
Sometimes there are defenses based on inability to produce proper documentation, but there
is no statutory way out of default.
Adam, let me move on.
Senators like Elizabeth Warren, they claim that the government makes tens of billions
of dollars in profit off of student loans, and then on top of that, they make it impossible
for a student to get out from underneath, by declaring bankruptcy for a student loan.
Is this an exaggeration or is there something to this?
Are these numbers right?
First of all, tens of billions of dollar that the government's making and they won't help
pay for a college education for the average American, did I get that right?
Yeah, I'm not familiar with the specific numbers in terms of the budget, but I know that the
government does view the student loan system as a revenue generating system.
And so they are looking at it to make money, and if you talk to many student loan borrowers,
they will tell you that even while they've made many payments, they may not have even
touched the principal balance of the loans, because of the way that interest works.
And so I certainly think that borrowers are paying back several times what they originally
took out in debt, and of course that's all profit from the government's perspective.
Well I got to tell you Adam, thanks for joining me on this, but I want to tell you, my take
on it is, that taxpayers are going to end up footing this bill when everything collapses.
On top of that, the Trump administration has proposed budget calls for de-funding the public
service loan forgiveness program, so you add that to what's happening here, and all of
a sudden we're looking at the same kind of bubble that people have been warning about,
that we saw with real estate, 2008.
I think people who don't believe this affects them, really need to take a more serious look
at this, because it certainly does have a huge effect on what they may have to pay as
taxpayers when this bubble, when this whole thing that the government has created, understand,
the government has created this problem, when it all collapses, taxpayers are going to end
up having to foot the bill.
Thanks for joining me Adam.
Thank you.
For more infomation >> Student Loan Defaults: An Economic Train Wreck For Taxpayers - Duration: 6:42.-------------------------------------------
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Queen Mary's Garden | Walk with us | Country Hill Cottage - Duration: 3:45.
Join us on this sunny day and walk with us through Queen Mary's Gardens!
This blooming treasure is named after the wife of King George the fifth and is located
within Regent's Park, a beautiful site between Marylebone and Kings Cross in central London.
The garden is home to the largest collection of roses in London, ranging from classic varieties
to modern English garden roses.
The garden also displays a beautiful waterfall, formal beds and Mediterranean Borders.
Be inspired be the opulent sights and rich scents, and watch our cottage girl Cyna create
the illustrations for our Mary's Rose Garden print.
You can download the printable calendar for July featuring this design on our blog, the
link is below the video.
We hope you enjoy this little excursion and please let us know in the comments if you'd
like to see more walks in the future.
Many thanks for watching!
Click on our logo to subscribe for more and check out our other videos!
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Jeep Wrangler Off Camber Fabrications Spare Tire Relocate Bracket (2007-2017 JK) Review & Install - Duration: 4:21.
This is my review and installation of the Off Camber Fabrications by MBRP spare tire
relocation bracket, fitting all 2007 and up JKs.
Today, we're going to talk through the installation of this bracket, which is a very, very simple
one out of three-wrench install.
You will have this bolted up to your Jeep in about a half an hour with just some traditional
hand tools.
But we'll talk more about that install in just a second.
If you have large tires on your Jeep and you're looking to have a full-size spare, there are
a couple of different issues you can run into.
The physical larger size of that spare tire can make it so that you'll have an issue when
you try and close your tailgate with the tire actually hitting the bumper.
Another problem you'll have is the additional weight of that big spare tire can wear on
the hinges of your tailgate, can wear on the actual spare tire mount itself, and can actually
break the welds on your tailgate.
So again, a couple of different issues.
This bracket here is only going to fix one of them.
This is going to give you the physical room to run a larger tire by raising that tire
up a little bit, so you're not going to have any contact issues with your bumper.
However, it's actually going to make some of those other issues even worse by providing
some additional leverage for that big, heavy spare tire.
So this is something you're going to want to use for a temporary solution to a bigger
problem.
This is something you can run in the interim before you get a tub-mounted or a bumper-mounted
tire carrier to properly secure your full-size spare.
Now, all of that being said, if you're only running a slightly larger than factory tire,
if you're only running a 31-inch tire or a 32-inch tire, something that is an all-terrain,
lightweight, wheel/tire package, then you might be able to get away with something like
this in the longer term.
However, do know that you are adding some additional leverage and you can make those
problems even worse.
But if you are looking for a bracket like this one, I think this bracket is going to
be pretty affordable.
It's right around the same cost as the other ones, and it is going to be pretty well-built.
Off Camber Fab makes this bracket out of a heavy-gauge steel.
They laser-cut it, and then they powder-coat it.
This is MIG welded together for some additional strength, and it comes with all of your studs
already pressed into place, making the install very, very simple.
This install is very, very simple, as I mentioned before.
Definitely, a one out of three-wrench install that shouldn't take you more than a half-hour.
The first step is to remove your spare tire in the way that you normally would by loosening
up the lug nuts.
Set this bracket over those existing studs that are on your factory tire carrier, and
secure them down.
Set your spare tire over the new studs on your bracket.
That, of course, is going to be a little bit higher up.
Tighten everything down with your factory lug nuts.
That's all there is to it, very, very simple.
The only other thing that you may run into is an issue with your factory third brake
light.
Now that your tire is a little bit larger, it's also up a little bit higher.
It may want to cover up that factory third brake light.
So you may want to look at a solution for that.
Otherwise, you're just going to need a socket set.
Of course, air will speed things along.
But a regular socket set is all you really need to get this done in a half an hour.
This bracket is going to come in right around $35, and there are a couple others on the
market that are going to be similarly priced.
A lot of them are going to be built in roughly the same way.
They're all going to get the job done.
This is a well-built version of this bracket.
However, it is important to note that you're not going to be able to spend $35 on this
bracket and avoid spending hundreds of dollars on a tub-mounted or bumper-mounted tire carrier.
This is only going to fix one of the issues that you have with running a larger than factory
spare on a factory tailgate, and you're still going to have to address those issues.
So if you're looking for a short-term, temporary solution to running a larger than factory
spare tire in that factory spare tire mounting location, or you have only a slightly larger
than factory spare tire, a small 32, 31-inch, lightweight wheel-tire package and you're
looking to just move that tire up a little bit, this bracket is going to be a well-built
option.
So that's my review of the Off Camber Fabrications by MBRP spare tire relocation bracket, fitting
all 2007 and up JKs, that you can find right here at extremeterrain.com.
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For more infomation >> Lời Vàng Ấn Quang Đại Sư .Thư Gửi Người Học Phật - Duration: 21:52. -------------------------------------------
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For more infomation >> Das sind die russischen Soldaten der Zukunft: Russland präsentiert High-Tech-Kampfanzug - Duration: 2:03. -------------------------------------------
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For more infomation >> 🎤 🎧 A fiú aki, 43 különböző hangon énekel 🎤 🎧 - Duration: 5:27. -------------------------------------------
How To Select The Right Nursing Home - Duration: 3:12.
How do I select the right nursing home?
Well, the selection process can be a little bit complex and there's multiple factors to
look at.
I would always recommend that if the individual, if your loved one is coming from a facility
such as a hospital or acute care rehab, utilize the Social Services staff at those facilities
'cause they really have their hands on the facilities where they would normally recommend
an individual to go based on past experience and what's the proper placement for your loved
one.
In addition to that, you really need to do your own research as well.
There's plenty of online tools to do that.
Medicare has it as an excellent website called 'Nursing Home Compare' that gives a star rating,
one through five for nursing homes.
Oh, that's really good.
Yeah.
An evaluation and give you some insight really on past experiences and past performance for
that particular facility.
Dave, let me stop you a second.
What was that called?
Nursing Home Compare?
Yeah, it's Nursing Home Compare is the name of the actual website but it's through Medicare.
Okay, I see.
You can just Google Medicare, Nursing Home Compare the website will pop up and I use
it all the time.
You know, to research facilities, there's a wealth of information on there when it comes
to ownership, like I said, past surveys and scores on specific items that are, you know,
that are meaningful.
Yeah, that's an excellent resource.
In addition, the Pennsylvania Department of Health has their own website and on that website
you can search any licensed or skilled nursing facility in Pennsylvania, pull up their ratings
as well as their surveys, which is basically there's an annual survey and there's also
complaint surveys.
All of those are on the Department of Health's Nursing Home website.
Those are excellent sources of information to find out how that particular facility is
performing.
Yeah.
That's great.
Yeah.
Not only close to the time where you're looking but also historically and see how they've
done in the past.
Those are two excellent online resources.
And word of mouth, word of mouth is always, ask around.
There's not a huge number of nursing homes out there.
Most people want to have their loved one in a facility that's close by, within reasonable
driving distance so, you know, ask around the area, ask friends and relatives if they
have any experiences they can share.
Because that's really what it comes down to is you want to get your loved one in the right
spot for them.
-------------------------------------------
Steps to Take If You Suspect Nursing Home Abuse or Neglect - Duration: 2:50.
Now what if someone, if a family member suspects abuse or neglect?
What steps should they take at that point?
I would say the first thing that should be done is talk to administration at the facility,
unless it's a completely egregious situation.
If it's a physical violence situation, sexual violence, that crazy terrible stuff happens
in these facilities.
Unless it's one of those kind of scenarios, I would say take that step.
Talk to the Director Nurse and talk to the administrative facility and say, "Here's my
concerns.
We've tries to deal with this with the nursing staff.
They're not doing what we want them to do.
Can you take some steps?"
That would be step one.
Now, there's always care plan meetings, usually monthly.
That's at a time where the family can sort of relay those issues as well and make sure
that they're known to be addressed.
And if a time goes by and they're not being addressed, I would say you can get in touch
with the ombudsman through the area agency on aging for the county.
That's next step.
Beyond that, you have the Department of Health.
You can form ... File a form or complaint with Department of Health.
You can do that anonymously or you can do it online.
Put all your information in there and they're obligated to go and investigate all those
complaints.
And last step, I would say call an attorney because an attorney can direct the individual
to help through those processes.
Maybe get in touch with the facility and kind of cut some of these things off before they
get to the point where you really need to take further action.
It's all about being proactive.
It's an unfortunate situation that we're in that you really have to be on top of things
that way.
You expect that when you place an individual into a facility that's licensed to do this
care, they will actually do the care that they said they would.
Reality is it doesn't always happen and a lot of that time it's a profit motive or just
they can't find the staff to fully and properly staff.
There's a lot of reasons for it but I think the ultimate way to cut things off is to be
involved and to show up and be the pain.
Be the one that, "All right, we better take care of this individual because if we don't
we know we're gonna hear about it."
That's how you make sure that individual is going to be taken care of.
Yeah.
I agree.
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