The Debt Collective is a group of college students calling themselves the “Corinthian Fifteen” who are refusing to pay back their student loans. As part of this effort, the Debt Collective has written an open letter to the Department...Show More Summary
The U.S. Department of Education, under fire for its lackluster oversight of student loan contractors, said Friday it will terminate its relationship with five debt collectors after accusing them of misleading distressed borrowers at...Show More Summary
Borrowing for education has soared over the past decade, ballooning to $1.2 trln and growing far faster than GDP. With serious delinquencies at 11 pct and Washington on the hook, there’s a mess in the making. A Breakingviews calculator shows how big Uncle Sam’s exposure could get.
For several years now the government has offered federal student loan forgiveness programs aimed at helping borrowers to avoid defaulting on their debts. While recent reports have shown that the popularity of the programs has exceeded expectations, a group of six senators say the Department of Education could do more given the billions of dollars in payments it receives … [More]
A few weeks ago, I wrote about how Obama’s budget contained a $22 billion student loan bailout to cover a massive shortage of funds for the Department of Education Federal Student Loan program. Because the program is categorized as a...Show More Summary
How to cut your cellphone bill in half - Bankrate How parents can avoid getting crushed by student loans - HuffPost Business 12 times you're better off without a promotion - Wise Bread Everything to ask yourself before you leave your...Show More Summary
If you’re struggling to make your student loan payments, one option to explore is income-driven repayment plans. These plans are available to federal borrowers to help manage student loan debt. Under these plans, monthly payments are lower than under the Standard Repayment Plan. Show More Summary
How dysfunctional is our student loan system? Consider this: Of borrowers who began repaying their debts in 2009, 26 percent have already defaulted—meaning they fell at least 270 days late on their debt—according to new data from the Federal Reserve Bank of New York. Show More Summary
Back in the Occupy Wall Street hayday, Circa 2011, I wrote my 8th most popular post ever. It was simply titled “I’ll be so pissed if Student loans are forgiven“. Yesterday I read an article by the New Yorker titled “A Student-Debt Revolt Begins“. Here’s a snippet from the article, but make sure to click […]
Struggling to keep up with your student loans? Follow these tips for whittling down that debt -- and still put money away
Want to know the best way to stay out of credit card debt? Or whether to pay off your student loans or invest in your 401(k)? Jill Schlesinger answers your #BeReady financial questions from Twitter.
by Garli In October 2012, my husband and I had established careers in our town, a down payment saved, and a big student loan and a truck paid off. We were ready to buy a house, and our lease was up, so we packed up our stuff and moved...Show More Summary
Alex Tabarrok passes along the chart on the right, which shows the default rate on student loans. What it shows is surprising at first glance: the highest default rates are among students with the lowest debt, not the highest. But on second glance, this isn't surprising at all. Show More Summary
Shutterstock Two things are very clear in the Federal Reserve Bank of New York's latest Quarterly Report on Household Debt and Credit: Americans have once again started borrowing, and student loans remain a ticking time bomb. The Fed...Show More Summary
Occupy leaders' latest move is supporting students who were burned by a shady for-profit college.
HIGHER EDUCATION BUBBLE UPDATE: New York Fed: The Growing Student Loan Crisis.
Andresr/Shutterstock By Allison Martin Are you among the millions of Americans saddled with student loan debt? If so, you're probably yearning for the day when you submit the final payment and throw off the shackles of that obligation. Show More Summary
Federal Reserve Bank of New York, Quarterly Report on House Hold Debt and Credit (Feb. 2015): Outstanding student loan balances reported on credit reports increased to $1.16 trillion (+$31 billion) as of December 31, 2014, representing about $77 billion increase from one year ago. Student loan delinquency rates worsened in...
[This is the first in a Higher Ed Watch series "Revisiting the 9.5 Student Loan Scandal." The series takes a closer look at the origins of the scandal with the purpose of trying to resolve unanswered questions and dispel lingering myths...Show More Summary
Outstanding student loans topped $1.2 trillion as of the end of 2014. According to the Federal Reserve Bank of New York, they now represent the fastest-growing category of all consumer debt. How did we get here? Jill Schlesinger reports.