Congress Pushes Millions Closer To Student Loan Default

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Student Loan Lawyer Elliott H. Stone Speaks Out On The Impact Of Monday’s Student Loan Interest-Rate Spike

The financial stress this puts on America’s 39 million student loan borrowers will hasten loan defaults in epidemic proportions

As of July 1, 2013, the Sequestration has created several issues affecting federal student loan borrowers, not the least of which is the doubling of the interest rate student loans borrows pay on loans taken out through the federal government’s student loan program.

The Senate adjourned for the July 4 recess on Thursday but failed to pass legislation locking interest rates on Stafford loans at the current 3.4 percent rate. The rate on these federally subsidized student loans will expire on July 1, after which the interest rate will double to 6.8 percent.

“The financial stress this puts on America’s 39 million student loan borrowers will hasten loan defaults in epidemic proportions,” according to student loan lawyer Elliott H. Stone. “We already know that the student loan lenders and servicers do a very poor job of meeting their legal obligations in helping borrowers lower their payments and avoid default,” adds Stone, “this will just make the situation go from bad to worse. Clearly, we have a crisis on our hands.”

An expert in helping borrowers alleviate their student loan problems, lower student loan payments and get out of student loan default, Student Loan Lawyer Elliott H. Stone has been monitoring these trends for years. Stone is also author the book, “Student Loan Secrets ‘They’ Don’t Want You To Know About” which explains the lesser-known and unpublicized student loan repayment programs available to federal student loan borrowers.

The book is available on Amazon.com for $14.95, but Stone is giving-away 97 free copies of his book to help educate the public on their options. By simply by calling 888-944-2252, you can get your free copy today, and start the process of getting help with your student loan problems. The book can also be requested on Stone’s website located at http://www.MyStudentLoanLawyers.com/freebook/

Elliott H. Stone is the managing attorney of the California Consumer Law Center and a nationally recognized expert on student loans. He wrote the book, “Student Loan Secrets ‘They’ Don’t Want You To Know About,” and is available as an expert for news articles and speaking engagements.

To schedule Mr. Stone or for further information, Contact: Jim Lucich, (310) 970-4155 or jimlucich(at)yahoo.com

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Leonard Scheiner
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