When looking at achieving some of your financial goals, there are just some things you must do. The end of the year is a good time to evaluate how you’re doing so far and where you want to head in the future to help you reach your goals. This includes your financial life. If you… Read More
With graduation season upon us, the media is flooded with stories about the ever-escalating amounts of student loan debt. Those stories are almost always accompanied by news of the college majors that pay the most — and those that pay the least. In reading all of this, those bound for college might be moved to… Read More
With many college students and their families concerned over mounting tuition costs, student loans and other related higher education expenses, private universities across the country are feeling pressure to make college more affordable. However, it remains unseen as to whether any will do so. According to a report by the Wall Street Journal, a number… Read More
Late last year, total student loan debt in the United States reached $1 trillion, a situation that set off a lot of hand-wringing. And for the people bearing the burden of the debt, the crisis is a deeply personal one. At the time, few could have predicted that a revolution was already in the works that could someday make student… Read More
Many colleges and universities have been implementing financial literacy courses for students following the Great Recession, in which Americans’ money knowledge (or lack thereof) was put under the spotlight. A recent survey sponsored by Visa found that Americans rank behind Brazilians, Mexicans and Australians in financial literacy, according to an article by Investopedia. So, are… Read More
Student loan debt has been in the news a lot lately as federal lawmakers grapple with the possibility of extending the current lower interest rates on government-issued education financing, which are set to double this summer. However, many students may have limited knowledge of what they owe on these accounts. A new study from Iowa… Read More
At $1 trillion dollars, student loan debt has eclipsed credit card debt for the first time in American history. To make matters worse, come July 1 the interest rate on federally subsidized Stafford student loans will automatically double, from 3.4% to 6.8%, unless Congressional action is taken to extend the lower rate before then. Depending… Read More
Millions of young adults graduate from college every year and have the hope of quickly gaining some amount of financial independence, but these days, many are having their ability to reach those goals hindered by massive amounts of student loan debt.
According to the Wall Street Journal student loan debt has now passed credit card debt to the tune of $830 billion. This debt is less expensive than credit card debt but is the closest thing we have to a debtor’s prison because you can’t ignore it, settle it (yet) or discharge it. Point being, you’re going to pay it.
A year and a half after the scandal broke that student loan companies were giving kickbacks to college and university financial aid officers, Congress has finally passed a law clamping down on the $85-billion student loan industry.