Student Loans Need an Overhaul, Not Small Changes

Students

Student Loans Need an Overhaul, Not Small Changes

Student Loans Need an Overhaul, Not Small Changes

Student loan debt is the elephant in America’s living room, and with good reason. According to the most recent data from the U.S. Census Bureau and the National Center for Education Statistics, the average annual cost of tuition for a four-year school represented more than 40% of median household income in 2010. That helps to… Read More

On Student Debt Crisis, A Canary in the Mineshaft

Students

On Student Debt Crisis, A Canary in the Mineshaft

On Student Debt Crisis, A Canary in the Mineshaft

Rashid M. Rashid saw the student loan debt crisis coming long before the mainstream press began reporting on it. In 2004, in the middle of the housing boom, Rashid happened to be shopping for a townhouse in Chicago. As a medical student at Loyola University, Rashid had no trouble getting a loan. And he found… Read More

Will Mobile Wallets Top the Mighty Credit Card?

Credit Cards

Will Mobile Wallets Top the Mighty Credit Card?

Will Mobile Wallets Top the Mighty Credit Card?

Experts have long cautioned that there’s no way to be sure that consumers will actually take to mobile wallet purchasing systems any time soon, but at the same time, there is mounting evidence that this could soon be the case after all. As mobile wallet technology becomes more viable and available to consumers, it’s likely… Read More

What to Do If You Get a 1099-C for an Old Debt

Managing Debt

What to Do If You Get a 1099-C for an Old Debt

What to Do If You Get a 1099-C for an Old Debt

Earlier this year, questions poured in from readers grappling with how to deal with 1099-Cs they received from lenders reporting “canceled” or “forgiven” debt. I wrote a number of stories addressing the issues they raised, and vowed not to touch the topic again until next tax season. But the questions kept coming in. One kept… Read More

5 Ways Your Credit Card Can Help You Save on Summer Travel

Credit Cards

5 Ways Your Credit Card Can Help You Save on Summer Travel

5 Ways Your Credit Card Can Help You Save on Summer Travel

If you’re looking to drive down the costs of a vacation, it may be time to whip out your credit card or, perhaps, even apply for a new one. A great travel rewards card provides several ways to save, none of which necessitate carrying a balance. Here are some spending strategies you should be putting… Read More

Consumers Cut Credit Card Debt Again in April

Credit Cards

Consumers Cut Credit Card Debt Again in April

Consumers Cut Credit Card Debt Again in April

The amount of debt carried by consumers nationwide rose slightly in April, and was restrained significantly by Americans’ efforts to slash their credit card balances. Nationwide revolving credit — the type of loan balance that can be subtracted from and added to from one month to the next, which is most commonly associated with credit… Read More

More Underwater Homeowners to Get Mortgage Help

Mortgages

More Underwater Homeowners to Get Mortgage Help

More Underwater Homeowners to Get Mortgage Help

In the past, many have criticized the federal government’s various home loan assistance programs. In order to help more people find some amount of relief from their problems, the U.S. Department of the Treasury is expanding these initiatives. One particular area of criticism for the Obama administration was its Home Affordable Modification Program, which was… Read More

The Payoffs of Lower Interest on All Your Loans

Personal Finance

The Payoffs of Lower Interest on All Your Loans

The Payoffs of Lower Interest on All Your Loans

Today, many Americans are carrying debts across a number of accounts and loan types, and their balances can sometimes grow as a result of significant interest rates. Fortunately, there are a number of ways consumers can reduce these charges. When consumers have large interest rates on their various loan types, they can often pay more… Read More

More Seniors Burdened by Sizable Outstanding Debts

Managing Debt

More Seniors Burdened by Sizable Outstanding Debts

More Seniors Burdened by Sizable Outstanding Debts

These days, there are considerable financial burdens being borne by consumers of all ages, but numerous older Americans are now dealing with problems that previous generations may not have. Consumers aged 50 and older are now carrying significant debt burdens across a number of accounts, including student loans, mortgages and credit cards, according to a… Read More

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