The States With the Highest Student Loan Debt

Students

The States With the Highest Student Loan Debt

The States With the Highest Student Loan Debt

The average student loan debt in the U.S. is just shy of $30,000, but several states have already passed that milestone. A report from the Institute for College Access & Success studied the debt loads of 2012 college graduates and found six states whose average student borrower carried more than $29,400 in education loans, which… Read More

31% of New Grads Face High Student Loan Payments

Students

31% of New Grads Face High Student Loan Payments

31% of New Grads Face High Student Loan Payments

Here’s something that shows the gravity of growing student loan debt: In 2009, the average monthly payment for student loan borrowers one year after graduation was 13% of monthly income. Researchers define a high monthly payment as more than 12% of monthly income. In fact, this likely understates the problem, as 29% of borrowers in… Read More

Help! I’m Terrified of Quitting My Job to Go to Grad School

Students

Help! I’m Terrified of Quitting My Job to Go to Grad School

Help! I’m Terrified of Quitting My Job to Go to Grad School

I’m 24 and I quit my job as an assistant manager at a retail bank making decent money (especially for someone my age) in August to go back to school to pursue a master’s degree. I was really miserable at my old job, and I’m fairly confident that the degree I’ve chosen will lead to… Read More

Should Bankruptcy Be an Option for Student Loan Borrowers?

Managing Debt

Should Bankruptcy Be an Option for Student Loan Borrowers?

Should Bankruptcy Be an Option for Student Loan Borrowers?

Last month, the Center for American Progress—a progressive think tank—published a report that calls for “a bolder approach” to making student loans more responsive to the needs of financially distressed borrowers. Briefly, the center is advocating for the creation of two new student loan designations: qualified and nonqualified. Qualified loans would be priced in accordance… Read More

Tackle Student Loan Debt With This Free App

Students

Tackle Student Loan Debt With This Free App

Tackle Student Loan Debt With This Free App

Here’s a word not normally associated with student debt: simple. But Tuition.io, a student loan debt tool, aims to offer that. The free service allows borrowers to review their loans in an easy-to-use platform that visualizes payment planning and progress. The most notable feature: the display showing how much a borrower can save by increasing… Read More

Join Us for a Twitter Chat: Conquering Student Loan Debt

Students

Join Us for a Twitter Chat: Conquering Student Loan Debt

Join Us for a Twitter Chat: Conquering Student Loan Debt

Overwhelmed trying to manage mounting student loan debt? Concerned about how you’re going to be able to finance your children’s college education? We want to help. We’re hosting a special Twitter chat session on Tuesday with Mint.com. The topic: Conquering Student Loan Debt. In this session, you’ll have a chance to share your challenges &… Read More

4 Ways to Deal with Student Loan Collection Companies

Students

4 Ways to Deal with Student Loan Collection Companies

4 Ways to Deal with Student Loan Collection Companies

At the beginning of March, I authored an opinion piece in which I proposed radical changes to the higher education business model. I also put forth a plan to address the nation’s staggering student loan crisis that would hold those who helped cause the debacle economically accountable for its resolution. I started receiving emails in… Read More

White House Cuts Student Loan Debt Collector Commissions

Students

White House Cuts Student Loan Debt Collector Commissions

White House Cuts Student Loan Debt Collector Commissions

Student loan debt, and instances of delinquency and default on those outstanding balances, has become so rampant nationwide that it has actually turned into a political issue. Now that many federal lawmakers and officials are examining why these problems have become so prevalent, the Obama administration recently made an announcement regarding how it will compensate… Read More

How Student Loan Deferments Affect Your Credit

Students

How Student Loan Deferments Affect Your Credit

How Student Loan Deferments Affect Your Credit

There’s no denying the value of a college education. With countless surveys and studies, there’s more than enough evidence to prove that consumers with college degrees earn more over their lifetimes than those without. The downside, however, is the cost that often comes with earning that highly sought-after degree. Outstanding student loan debt has topped… Read More

The CFPB Wants Your Help With Student Loan Debt

Students

The CFPB Wants Your Help With Student Loan Debt

The CFPB Wants Your Help With Student Loan Debt

These days, more experts are starting to point out just how bad the student debt problem in the U.S. has become, and as a consequence, the federal watchdog agency tasked with helping consumers safeguard their finances wants to see what it can do for Americans carrying these often massive balances. The Consumer Financial Protection Bureau recently issued… Read More

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