Many young people want to learn about managing money from their parents. A significant majority of teens we surveyed (84 percent) say they look to their parents for information about how to manage money.
Understanding the types of loans you have and comparing them against the other options that exist can help you determine if you are paying too much.
Graduating from college debt-free feels really good. When Ja'Net Adams got her degree from South Carolina State in 2003, she was one of those fortunate students who started her adult life without debt, and things went along really well for her. Then, in 2008, she lost her job.
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.
For decades Congress has recognized that investment in higher education is the pathway to economic growth and a sustainable, healthy workforce, but last week Republicans in Congress released a budget proposal that includes about $150 billion in cuts to student financial aid.
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.
Who wouldn't want to have their student loan debt vanish--evaporate into oblivion? If you are among the millions of Americans with student loan debt, this may be the kind of thing you dream of at night. Is it possible to make this dream a reality with student loan forgiveness programs?
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."
Don't let the headache of untangling financial aid letters spoil the thrill of getting into college. Here are five things to keep in mind as you evaluate your options for attending and paying for school.
Is it really appropriate to compare student loans with mortgages, auto loans and credit card debt? If I put on my consumer hat, it feels like we should. If I put on my economics hat though, student loans seem absurdly incomparable to practically every other form of household debt.
Higher education is not just good for the individual's own future, which is often how we think about it. It is, in addition, good for everyone, meaning that everyone should bear its cost, and not just individual "borrowers."
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.
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.