If the word "crisis" seems dramatic to you, you haven't been paying attention. The Federal Reserve recently released new data on student debt, and it shows that the situation is even worse than many people realized. There's a lot of new information available, but here are four things every American needs to know.
President Obama's efforts to simplify the student loan program and to end poor loan services and deceptive debt collection practices are all good. However, the changes he put forward do not go far enough to adequately address the problems of high tuition and high debt.
These programs have the opportunity to reap thousands of dollars in lifetime savings, and if you are fortunate enough to attend one of these exceptional institutions, it could really pay to take a closer look.
Anyone can die leaving debt behind. Spouses and families should help prepare or revise estate plans to address current credit issues and create an action plan for the possibility of remaining debt after the borrower dies.
Why isn't financial literacy education working? Because financial literacy education is largely funded by the very same businesses that prosper when young people make poor money decisions -- big banks, credit card companies and other huge financial industry businesses.
There are many resources for student loan borrowers trying to figure out repayment, and some go to financial planners for advice on how to manage their student loan debt as a part of a broader financial strategy that will carry them into retirement.
To help alleviate the sting of paying Uncle Sam, we asked CPAs to share some of the most commonly overlooked tax deductions and credits for everyone from newlyweds to new homeowners.
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.
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."