My students are left facing a quandary: if they don't spend thousands of dollars to get educated, they won't end up earning the money they need to afford a middle class lifestyle. But if they borrow the thousands of dollars for an education, they'll end up spending their careers burdened by debt.
Debt is the four-letter word Americans hate to hear. Today, the average American household has debts totaling around $7,200. According to Aimee Picchi on CBS Moneywatch, American household credit card debt is increasing despite the fact that average household earnings have not experienced a similar increase to account for that new debt.
Could marijuana legalization save the Puerto Rican economy? Right now, marijuana possession in Puerto Rico is a serious crime and first-time offenders are slapped with a felony, two to five years in prison and up to a $5,000 fine. But with legalized pot, Puerto Rico can use the tax revenues and fees it collects to help pay off the debt.
People can choose to define financial independence in their own way -- after all, not everyone wants a private jet and a mansion. However reaching real financial independence -- the ability to live comfortably off one's savings and investments with no debt whatsoever -- could be easier than you think.
It is best to allow your children to be fully responsible for any student loans they incur. Sometimes, students can get more financial aid (in the form of loans) if their parents put their names on the line for the loans. However, you should avoid this if possible.
Given Puerto Rico's heightened media visibility, no doubt the world now has its eyes on how the United States will respond to the needs of the island, one of the last colonies in the world.
Although a variety of suggestions have been proposed to save the island from default, here are four reasons a clearly articulated, multi-year transition to independence is the only long-term viable solution for Puerto Rico.
For more than two decades there have been well-funded efforts to try to scare the public into supporting cuts in Social Security and/or privatizing the program. The basic story was that demographics would make Social Security unaffordable.
Your debt may cost you more than just interest. Research shows there's a clear link between your financial health and your mental health, and your debt may serve as a tangible representation of your psychological state.
Puerto Rico is on its way to one of the largest debt defaults in history, right up there with Greece and Argentina. Economic stagnation, or contraction, is not merely a result of an economic cycle but of major long term problems that make the island uncompetitive. But is there a way out?
College students across the nation are working toward earning their degrees in hopes of one day having a career that will provide them with financial security. While many students dream of financial independence, the reality is that the rising cost of college tuition is leaving many of today's graduates with burdening student loan debt.
Millennials may be spending more for college and racking up record debt, but they don't mind, according to a new survey of 500 university graduates by Credit Sesame.
Studies have shown that there is a direct correlation between stress levels and health complications. When energy is spent combating stress, it weakens your immune system, which can lead to declining health and an overall lower quality of life.
There's a lot of unrepayable municipal and private debt out there, and there will be more Detroits and Puerto Ricos to reckon with. We have to face up to a miserable dilemma: Who suffers when governments can't repay the money they borrowed?
Like other grandparents, we're convinced our grandchildren are the smartest and most perfect creatures on the planet. We've had college 529 savings accounts for them since they were born and know that someday they will cure cancer, end poverty and save the planet!
A joke circulating has a Greek passport officer asking a German woman at the border, "Name?" She replies "Merkel, Angela." The passport officer cont...