April 15, 2018  Vol. 59 Num. 41
Russell Hampton
ClubRunner Mobile

At our April 12th meeting our fellow Club Member, Kevin Hanly, provided us an excellent overview on Student Loans and the landmines they portend. With his extensive experience as a Bankruptcy Lawyer, Kevin is uniquely qualified to provide advice and assistance to those ensnared in the Student Loan system.

As of 2017, there is more than $1.48 trillion in outstanding student loan debt. Overall, student loan debt is carried by more than 44 million borrowers. Where, exactly, does all this money coming from? Well, it depends.

Federal student loans are funded by the US Department of Education. Federal student loan borrowers may be eligible for:

  • Direct Subsidized Loans, available to undergraduates who demonstrate financial need.

  • Direct Unsubsidized Loans, available to undergraduates, graduates, and professional students, and requiring no demonstration of financial need.

  • Direct PLUS Loans, available to graduates, professional students, and parents of dependent undergraduates.

  • Direct Consolidation Loans, available to borrowers who want to combine multiple federal loans into one.

Private student loans are nonfederal loans funded by private lenders (for example, banks, credit unions, and other lenders).

Kevin offered an overview of the Federal Programs, and what to lookout for. Following his presentation there was a lively discussion on the cost of Higher Education and the need to educate students and parents before they pick a college and decide on financial aid.

Our Super 50/50 Raffle Drawing Date is fast approaching. Our Club must sell 300 Tickets to make the fundraiser a success. Please turn your tickets into Tom Madigan as soon as possible.
This year's Triathlon is set for Saturday, June 16. We need to provide over 140 volunteers to man the field. Start lining up your family and friends now, and provide Russ Kamp their names and contact numbers.
We still need Volunteers to help out at Wyckoff's Tidy Up Day. Put Saturday, April 28 on your calendar, and meet up with your Rotary Hat on at the Township Hall. Let Paul Platek or John Adams know if you can participate.
Bulletin Editor
Andy Garlick