Niagara Gazette

Local News

February 28, 2013

Schumer to propose Andrew's Law

(Continued)

Niagara Gazette — In Andrew Prior’s case, in addition to a federal loan, he had three outstanding private student loans at the time of his death. The companies that owned two of these loans, Discover Student Loans and Education Empowerment Fund, worked expeditiously with the Prior family to discharge the loans and ensure that this family’s credit was not negatively affected.

However, up until mid-February, over two years after Andrew’s death, the third private loan had not been forgiven. Schumer said the loan servicer is reported to have hounded the Prior Family for payment and even threatened to take away their home and car.

Many private loan providers, such as Sallie Mae and Wells Fargo, have established programs to forgive debt in the event of the student borrower’s death, just as federal loans do.

But the practice must become universal, Schumer said.

Private student loans make up less than 15 percent of total student debt outstanding as of Jan. 1, 2012 and contributed less than 7 percent to the estimated $112 billion in total student loans originated in 2010-11.

Text Only | Photo Reprints
Local News
Featured Ads
Seasonal Content
House Ads
AP Video
Courts Conflicted Over Healthcare Law Holder Urges Bipartisanship on Immigration Raw: Truck, Train Crash Leads to Fireball US Airlines Cancel Israel Flights Obama Signs Workforce Training Law Crash Victims' Remains Reach Ukraine-held City Diplomatic Push Intensifies to End War in Gaza Obama Offers Condolences at Dutch Embassy Cat Fans Lap Up Feline Film Festival Raw: Lawmakers Scuffle in Ukraine's Parliament The Rock Finds His Inner 'Hercules' Michigan Plant's Goal: Flower and Die Raw: MH17 Passenger Remains in Kharkiv, Ukraine Raw: Israel Hits Gaza Targets, Destroys Mosques Veteran Creates Job During High Unemployment New Orleans Plans to Recycle Cigarette Butts
Opinion
House Ads
Night & Day
Twitter News
Follow us on twitter
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Front page
Poll

Do you think cigarette sales to non-Native American customers should be taxed on reservations?

Yes. Items should be taxed like they are everywhere else.
No, the indian reservations are sovereign land and they are selling them on their land.
Not up to me. Native Americans decide the rules on their land.
Don't care. Smoking isn't good for you.
     View Results