MCCL Thought Leadership Scholarship | Michigan Consumer Credit Lawyers

Student Thought Leadership Scholarship

Michigan Consumer Credit Lawyers has been a leader in consumer credit law for over 20 years. It has been offering sound and honest legal consultation during this time and is headed by renowned credit attorney Gary Nitzkin. MCCL will be running an essay-based scholarship to award students with thought leadership on the current issue of of the rising national student loan debt.

Update: The scholarship is currently closed due to such a high volume of applications. We are unable to take anymore submissions at this time. Check back in next semester.


Student Loan Debt has the highest delinquency rate among all forms of debt and it’s the only one that has been on the rise since 2003. According to FICO , the average student loan debt has jumped 58% in just seven years from $17,233 to $27,253 since 2003.

There are many reasons why the student loan debt is increasing. The cost of education is getting higher for one, and another reason is that the relationship between the lenders and the students is getting very shaky. Students with not much of a credit score are getting approved for massive student loans. Many times these loans are borrowed for degrees that have a decreasing value in this more tech savvy job market. Because of this, many students are getting a reality check come graduation time when they realize that their annual salary is going to be lower than the sum of their student debt.

This affects many life-decisions. Decisions like buying a car, buying a home, and other major decisions are being put on hold so that former students can start to make their payments. In fact, according to research from Progress Now, you are 36% less likely to own a home if you are currently repaying student loan debt. Other areas of life that this study found to dramatically affect your life would be the purchasing a new car, and the amount of time a student was going to repay back their debt based on the type of degree they pursued. MCCL believes that all students should be aware of the cost, benefits, and consequences of undertaking debt when going to school.

Scholarship Rules & Guidelines:

Deadline: July 1st 2015

  • First Place : $1,000
  • Second Place: $750
  • Third Place: $250
  • Written essays must be Between 500-1000 Words (See topics below)
  • Applicant must be either a current student at an accredited school within the U.S. or at an accredited undergraduate university planning to attend school.
  • Applicants Must have a minimum 2.75 GPA
  • Applicants Must Submit a Copy of Their Transcript



  1. What action should the government take to prevent students from damaging their credit with student loans?
  2. What programs would you like to see to help students prevent student loans from damaging their credit?

How To Apply

To apply either fill out the application form on our site, or download a copy of our application form and mail a hard copy to our office.


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