Will this latest court decision convince Globe University officials to stop pointing the finger at others and deflecting blame? Hopefully. It's well overdue and their students and graduates deserve better.
There are many myths surrounding what can actually help or hurt your score, especially when it comes to student loans. For recent graduates, student loans can be a credit disaster or a credit booster -- it all depends on how well they are managed.
America clings to the conceit that four years of college are necessary for everyone, and looks down its nose at people who don't have college degrees. This has to stop. It's time to give up the idea that every young person has to go to college, and start offering high-school seniors an alternative route into the middle class.
America is in the midst of a student loan crisis. The total outstanding student loan debt has passed the $1 trillion mark, the class of 2014 is the most indebted class ever, and graduates are referring to their student loans as a form of "indentured servitude."
The Corinthian story is certainly an unjust one. These strikers have raised issues which go to the heart of our nation's entire student debt crisis. That crisis affects 41 million Americans, who hold an estimated $1.3 trillion in debt. Those are staggering numbers -- and if we do nothing they will continue to soar.
The inability to defer private education loans adds tremendous pressure to these students and their families. If a student is in school when repayment must begin, there is an unavoidable shift of responsibility to the co-signer. Is this always fair?
On February 27, the Department of Education announced it will end its contracts with five private collection agencies. It's good that the Education Department is cracking down, but much more needs to be done to hold collection agencies accountable for unfair or deceptive practices.
The president's plan calls for implementing a new complaint forum for student borrowers, a centralized website to track student loans, stricter laws for debt collectors, and possibly even bankruptcy for student loans.
Student debt comes in all shapes and sizes, but everyone should be concerned with their student loans, whether their balances are big or small.
Now Obama envisions directing $14.6 billion from the loan program toward Pell in the next 10 years. But money is needed to cover forgiven loans. If further expansion of the generous forgiveness clauses leads to another unanticipated shortfall, will this transfer of fund still be possible?
Whether you're a parent with a child currently in diapers or a student planning to graduate from high school fairly soon, it is worthwhile to study the Free Application for Federal Student Aid (FAFSA) -- a 130-question form that determines who qualifies for a piece of $150 billion in federal grants, loans and work-study funds -- well in advance.
Most families aren't able to cover the full cost of their children's college experience, which means financial aid will play at least a part of their college planning. If you're thinking about applying for financial aid for your college-aged student (or thinking ahead for a child who's got some time left to go), here are the fundamentals you need to know.
Obama speaking our language doesn't necessarily mean iMessages full of emojis, though his recent experiment with a "selfie-stick" suggests that it may not be far behind; instead we are seeing an Executive that is acting on our issues.
Kevin Carey posits that the market dominance of federal student loans combined with income-driven repayment plans has solved student debt crisis. It's an intriguing and optimistic thesis.
Education has always been central to the American Dream: the promise that if you work hard, you can achieve anything. Unfortunately, the skyrocketing cost of student loan debt means that when millions of Americans should be building their careers, starting their families, and pursuing their dreams, they are instead being held back.
Steve Mason's tragic story may be an extreme case, but he is not alone. Millions of people are legally obligated to have a portion of their wages diverted to paying down student debt. Borrowers and their parents seemingly have nowhere to turn.