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Farnoosh Torabi

In Student Loans, Personal Finance

Farnoosh Torabi is a nationally recognized author, expert and television host. Her first book, You’re So Money, is an acclaimed tell-all for young adults searching for financial independence. Her new book Psych Yourself Rich, gives readers the mindset and discipline to build their financial life.

From Kindergarten to College: Financial Literacy For All Ages

Personal Finance

From Kindergarten to College: Financial Literacy For All Ages

From Kindergarten to College: Financial Literacy For All Ages

More Americans are defaulting on their student loans, according to the Department of Education. The two-year cohort default rate on federal student loans rose to 8.8 percent from 7 percent in 2008. While the economy is largely to blame, I would also argue that college graduates, while bearing degrees in computer science, finance and the arts,... Read More

Applying for Cable? Expect a Credit Check

Credit Score

Applying for Cable? Expect a Credit Check

Applying for Cable? Expect a Credit Check

We know that lenders check our credit to determine our eligibility for loans and our interest rates on loan products. Sometimes landlords and employers do, too, as they review our applications for apartments and jobs. But did you know that your utility or cable company might check your credit when you sign up for service?... Read More

Top 11 Banks for College Students

Student Loans

Top 11 Banks for College Students

Top 11 Banks for College Students

Between attending classes, joining clubs and pledging fraternities and sororities, college students across the country are wondering, “Hmm. Where should I bank?” Okay, maybe picking a bank is not so high on their to-do list, but it should be. As we know, credit unions and community banks offer some of the best and lowest fees... Read More

Stemming the Student Loan Crisis: A Lesson From India

Student Loans

Stemming the Student Loan Crisis: A Lesson From India

Stemming the Student Loan Crisis: A Lesson From India

Sometimes it helps to look beyond our borders for solutions to the troubled messes at home. As we know, student loans outstanding total roughly $830 billion in the U.S., more than total credit card debt. More alarming is the fact that many student loan borrowers are in default and unable to repay. Recent data obtained... Read More

3 Ways the CFPB Can Help Protect Young Consumers

Student Loans

3 Ways the CFPB Can Help Protect Young Consumers

3 Ways the CFPB Can Help Protect Young Consumers

As the Consumer Financial  Protection Bureau (CFPB) gears up to launch this Thursday, I have a few recommendations on behalf of young adults and college students in America. As we know, many in this generation lack the financial literacy necessary to make educated choices when it comes to credit and managing their money. Banks and... Read More

Alternative Card Options for Students: Debit or Prepaid?

Student Loans

Alternative Card Options for Students: Debit or Prepaid?

Alternative Card Options for Students: Debit or Prepaid?

For many college-bound students that are too young to qualify for a traditional credit card, the need to manage money often boils down to either using a prepaid or debit card.  Both have similar characteristics, but depending on your financial habits, one may be a better fit. Let’s take a closer look: Debit Cards Debit... Read More

Fixed-Rate Private Student Loans – Worth It?

Student Loans

Fixed-Rate Private Student Loans – Worth It?

Fixed-Rate Private Student Loans – Worth It?

There’s a new kind of private student loan in town, with pros and cons that should be weighed before signing up. Wells Fargo and U.S. Bank have recently rolled out fixed-rate student loans to attract more consumers, as the private loan market continues to lose ground to the federal government, which is currently offering subsidized loans... Read More

Qualified for a Mortgage, Rejected for a Credit Card. Huh?

Mortgages

Qualified for a Mortgage, Rejected for a Credit Card. Huh?

Qualified for a Mortgage, Rejected for a Credit Card. Huh?

I recently heard about a consumer who, nine years after declaring bankruptcy, qualified for a mortgage. Apparently her financial life was back on track, but when she later applied for a credit card, she was rejected.  The consumer guessed it had to do with her bankruptcy record, since some bankruptcies stay on your credit report... Read More

7 Savings Tips for College-Bound Students

Student Loans

7 Savings Tips for College-Bound Students

7 Savings Tips for College-Bound Students

It’s high season for prospective college students, as they and their families compare colleges and decide how to finance what is often one of life’s biggest expenses. After tapping savings and 529 plans (assuming parents or guardians have been contributing over the years) there’s almost always a shortage. And while some parents feel obliged to... Read More

Are Prepaid Cards Worth It?

Credit Cards

Are Prepaid Cards Worth It?

Are Prepaid Cards Worth It?

[Update: Some offers mentioned below have expired. For current terms and conditions, please see card agreements. Disclosure: Cards from our partners are mentioned below.] I’ve never been a big fan of prepaid cards, as many charge exorbitant fees from monthly maintenance to reloading fees. But with such rapid growth in the industry, this category of... Read More

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