Student Loans

We know the stereotype of the unmotivated millennial, living at home with their parents without any long-term plan or concern about their situation. Is that a fair representation? Do millennials disproportionately live with their parents? If so, is this from necessity, lack of motivation, or part of a grander strategy? It’s logical that younger generations
0 Comments
Which is the worst first-date mistake – talking about an ex, eating food off your date’s plate, or mentioning that you are heavily in debt? We have no idea, but we’re guessing that a second date is unlikely in all those cases. A new survey from Finder.com suggests that in the case of excessive debt,
0 Comments
How bad is America’s student loan situation? According to recent data from the New York Federal Reserve, our $1.38 trillion in outstanding student loan debt is second only to mortgage debt but comes with a higher delinquency rate. As of the end of 2017, approximately 1.3% of mortgage balances were delinquent by ninety or more
0 Comments
If you are a lending institution that loses money on the loans that you make, it’s an understatement to say that changes are required. Unfortunately, that’s the upcoming position of the federal government with respect to student loans. While student loan debt has spiraled upward to top $1.4 trillion, the government’s return on that investment
0 Comments
According to Collegedata.com, the average annual cost of tuition and fees for the 2017-2018 school year was $9,970 at an average public college for in-state residents. Out-of-state collegians paid an average of $25,620, while those attending private colleges saw average bills of $34,740. Throw in a typical $10,000-$12,000 for housing and meals, another $1,200 for
0 Comments
Policymakers have been struggling to identify ways to deal with America’s staggering student loan debt. As of January 2018, Student Loan Hero estimated total outstanding student loan debt at $1.48 trillion, affecting 44 million Americans. Thanks to this debt burden, young Americans are having difficulty achieving typical financial milestones such as home ownership. Here’s
0 Comments
America’s student loan debt may be approaching a critical point with respect to repayment. According to Student Loan Hero, the total student loan debt has reached $1.48 trillion spread across 44.2 million Americans, and the latest release from the U.S. Department of Education in September of 2017 shows that default rates are climbing. According to
0 Comments
The Equivalent of Debtors’ Prison Is there such a thing as a modern-day debtors’ prison? Not literally, as debtors’ prisons were outlawed by Congress in 1833. However, a recent ACLU report on the criminalization of private debt points out that some private debt collectors are creating the equivalent of debtors’ prison via the courts. The
0 Comments
Do you ever feel like you are drowning in debt? Have you ever considered simply not paying your debts? What’s the worst that can happen if you refused to pay them back? Unless you owe that debt to the “unregulated” end of the high-risk loan market, nobody named Vito is going to show up and
0 Comments
Costs Increase, Defaults Follow Americans owe the government approximately $1.37 trillion in student loans – and, according to recent information from the U.S. Department of Education, student loan debtors are having an increasingly difficult time paying back those loans. The Wall Street Journal reports that some $631 billion of the $1.37 trillion debt load is
0 Comments
Billionaires and the impoverished have one thing in common – momentum. Once you achieve high levels of wealth or debt, it’s very easy for either one to continue to grow. A recent report by the Institute for Policy Studies highlights this point. The study found that three billionaires – Jeff Bezos, Warren Buffett, and Bill
0 Comments
College may be expensive, but a college degree allows you to recoup your investment by landing a higher-paying job that allows you to pay back your loans in a timely fashion… or does it? The skyrocketing costs of college in recent years, combined with a rough job market, have thrown that basic premise into question.
0 Comments
It’s that time of year when the leaves change colors, pumpkin flavoring is crammed into everything imaginable (who needs Eye Drops with Pumpkin Spice?), and scary things come out on Halloween – but will you open your door on October 31 and be confronted by anything scarier than these hair-raising financial horror stories? They Stole
0 Comments
A Burden for You, An Opportunity for Scammers Educational debt has reached levels that are hard for the average American to fathom. By some estimates, outstanding student loans have reached a whopping $1.45 trillion dollars. Over 44 million Americans have some form of student loan debt, with 2016 graduates averaging over $37,000 in debt. That’s
0 Comments
As retirement approaches, you should be making the most out of catch-up contributions in your 401(k) or IRA and socking away as much of your money as possible to prepare for retirement. Unfortunately, too many older Americans are unable to save properly for retirement – or even live outside of poverty during retirement – because
0 Comments
Earlier, we presented some money-saving tips for college students. Here are additional ways to save cash: Car Pooling – if you go to school close enough to drive home every so often, be sure to establish a car pool. Considering the price of gas and tolls, this could result in substantial savings. Many students know
0 Comments
College can be a great adventure in scholarship and life for many young people. But when it comes to managing a budget, it can be a sobering learning experience in how quickly their money can disappear. Even worse, six months after a student graduates, when he or she gets their loan payment schedule, they will
0 Comments
Student loan debt has made it difficult for many young Americans to enter the housing market. A recent survey from the National Association of Realtors found that 71% of student loan borrowers cited their student loan burden as a reason to delay buying a home. The student loan plight may be a major factor in
0 Comments
America’s student loan debt burden has reached a staggering $1.44 trillion, making it the second largest source of household debt in America – behind mortgages. According to a recent study, this growing loan burden is not equally shared between the sexes. The report from the American Association of University Women (AAUW), titled “Deeper in Debt:
0 Comments
A recent action by a Court of Federal Claims has effectively stopped the collection of defaulted student loans – but for those affected, this is cause for concern, not celebration. To understand why, it’s important to look at the fate of defaulted loans and how those attempting to recover from the situation are being harmed
0 Comments
America Breaks the Debt Record According to the New York Fed’s recent Quarterly Report on Household Debt and Credit, America has more debt than ever before. Do you? Should you be concerned in either case? The report shows that American household debt reached $12.73 trillion in the first quarter of 2017. That tops the previous
0 Comments
Banks constantly look to gain the loyalty of new customers. One great place for banks to find these ideal, new customers is at colleges, universities and other post-secondary educational institutions. Students Make Easy Targets for Excessive Fees Unfortunately, students do not pay much attention to their finances, especially when it comes to the fine print
0 Comments
APR and APY – are they new texting acronyms? IDK, you say – or rather, you text? (For the benefit of the textually-challenged, IDK means “I don’t know.”) If you think they are texting acronyms, or just “DK” what they are, it’s time to learn. APR and APY are financial acronyms, short for Annual Percentage
0 Comments