If this proposal passes as is, I fear the benefits of education will not outweigh the burden of debt for most Americans. Education is a key component to the economic success of a country, but in America, it is becoming a more of a financial hindrance than a career gain.
In July of 2012, after a two-year investigation, the Senate HELP Committee released a scathing report on the for-profit college industry. The investig...
Being student-loan-free means I'm old. As in, I should have my life figured out by now. I should be married (which I'm not), have kids (which I don't) and know what I want to do career-wise (again, I don't). I'm almost 29 and don't know what the rest of my life will look like.
For those of us in the early part of our financial life-cycles, the little things can make a big difference. This is especially true for student loan borrowers like myself.
It seems that the government is gathering kindling for a big bonfire.
While access to credit enables us to carry these kinds of debts, they hurt our ability to gain more access to credit - so the big-screen television you buy today could well be the one thing that prevents you from getting a mortgage on the perfect house next year.
We have a perfect storm of rich companies deciding to stick it to their employees. There has been little buzz about recent findings that Facebook offered no matching contribution to its employees' 401(k) accounts in 2012 and 2013.
16 Percent of First-time Homebuyers Say Student Debt Has Kept Them From Buying: My husband and I would love to own a home, but right now we just ca...
In our slowly recovering economy, people are doing better managing their credit cards, mortgages, auto loans, and home equity loans. But when it comes to student loans it is a freaking disaster.
This has all the makings of a bubble and when it bursts, it will hobble students' ability to borrow for college. Reforms are needed, but there is very little political will and talk of bubbles never penetrates those inside the bubble.
In reviewing reported cases over the last eight months that directly addressed student loans in the context of bankruptcy, almost one-third of these court decisions allowed a discharge. There are several lessons to learn from these recent decisions.
Is college tuition going up to compensate for state cuts? Or do plentiful student loans encourage states to cut aid and colleges to raise tuitions?
If you or your child decide to rely on federal or private student loans to cover some of the costs of college, it is a good idea to sit down before the freshman year even begins and talk about the implications of being in debt.
There is only one way out of the student loan crisis - civil disobedience on a massive scale. Two reforms could bring a fair settlement to banks and borrowers alike. However, while fair, these reforms would cost the banks billions in receivables, which means they will use their considerable political influence to block them.
We know students and families across generations are struggling with their debt. High debt can also have serious impact on the economy: causing a generation of Americans to hold off starting a family, buying a house, or even saving for retirement.
Our legal system continues to penalize students and graduates by denying them basic consumer protections available for almost every other type of debt -- including gambling debt.