By our best estimates, there are approximately 7.3 million borrowers holding some $106 billion in defaulted student loan debt. While there's no official line, it's probably safe to say this qualifies as a "crisis."
Senator Elizabeth Warren has reintroduced her bill allowing borrowers with outstanding student debt to refinance at lower rates. This will certainly appeal to those students with high-interest rates in the 7-8 percent range, but it won't help those struggling to pay their debt.
With not a peep out of the Texan regarding student loan refinancing, it seems Perry won't take on big lenders should he achieve the nation's highest political office. His priorities would lie instead in reshaping the American university to a pared-down business model favoring efficiency over elitism. While big colleges would take a hit, the big banks would be safe.
Even if you breezed over the fine print when accepting your loan, it's never too late to catch up. Whether you just graduated or have been out of school for a couple years, understanding the basics of your student loans can save you money in the long run.
Webb's position on college affordability, like much of his record, doesn't fit neatly into any political box. While he has been a staunch defender of rural, impoverished communities in many of his speeches, his positions on college affordability have shown him to be far more to the right than you might think.
Student loan repayment is often a long-term endeavor, but understanding the opportune times to adjust your repayment strategy could save you a lot of time and money over the course of your loans.
As the outstanding student loan debt in the United States now easily surpasses $1 trillion, students across the country are exploring ways to be smarter with their money. A key solution to save money is to explore student loan refinancing options.
Loans can throw a wrench in your finances and vacation plans. For recent graduates, student loans are constantly in the back of their minds. Thinking about how to budget and how to make your student loan monthly payments can put gradates into super saver mode.
Millennials are facing more student loans than ever before. Interest rates are high. Loan principals are even higher. Even those with good jobs are struggling to pay their monthly minimums.This is bad for a lot of reasons, one of which is that people in their 20s are not investing nearly as much as they should.
Seven in ten college graduates in the United States now leave school with student loan debt, averaging about $29,000 per student. In order to help relieve the impact of student loans on your life, here are some ways to stay on top of your loans.
Our grandparents are so concerned we won't have a savings account, but how could we possibly when we may only be able to put away $1,000 a year? So yes, I left New York City really pissed off.
The big question for the Vermonter will be how exactly the American government will be able to afford increased funding for higher education. If he can be more specific as to which corporate loopholes he would close, and what other government expenditures he would cut, Sanders could enjoy a prominent place in the national dialog.
Which comes first, the down payment or paying back loans? Saving for a down payment can seem daunting while still repaying your student loans, but it can be done.
In trying to determine what a Huckabee campaign, nomination, or even presidency could mean for college affordability and student loans, let's take a look at what he's said and done so far.
Playing defense for the for-profit college industry is not unusual for Capitol Hill lawmakers. A high volume of campaign contributions have cemented ties between the for-profit college industry and members of Congress, especially Republicans.
These are things I've noticed over many years, and especially this year during the college search. Think of it this way. Is that small, private college or public university really worth going into debt $30,000 to hundreds of thousands of dollars?