Like previous TICAS reports, "Student Debt and the Class of 2014" provides a comprehensive overview of the student debt crisis by combining a bird's eye view of the national scope of educational debt with state-by-state data.
The reality is the business of higher education is economically unsustainable and will sooner or later collapse. The first step for creating alternative educational models is to realize why the current system is broken.
As it stands right now, private student loan lenders are not required to offer you any repayment plan beyond what you originally agreed to. Private student loans have no reasonable and affordable repayment options like federal student loans do.
In early 2015, President Obama proposed the Student Aid Bill of Rights, which included a provision to make it easier for borrowers to repay their students loans. As the result, the government introduced a new repayment option for federal student loans: Revised Pay As You Earn (REPAYE).
The grace period is designed to give you some breathing room to find a job before you start student loan repayment. However, once that period is over, you will have to start making regular payments. But there are a few exceptions to extend your period.
He was a made-for-TV success story. Eventually Ellen DeGeneres magnanimously -- as is her way -- handed him a larger-than-life check for a $35,000 college scholarship. Thinking like the middle-class kid he aspired to be, he used the great majority of that money to pay down his existing student loans.
As of October 2015, American consumers owe $8.17 trillion in mortgages, $900 billion in credit cards, and $1.19 trillion in student loans. Home mortg...
In the kerfuffle over presidential candidate Ben Carson's claim that he was admitted to West Point, the news media have pointed out that the "full scholarship" part of his story adds even more confusion because, as the New York Times story today put it, "Technically, West Point does not offer scholarships. It is free." Actually, no, West Point and the other military academies are not free, technically or otherwise.
As exciting as it is to see student debt already at the forefront of the election, it's hard to get too optimistic for change when Congress has demonstrated an unwillingness to advance legislation that would provide relief to those buried in student debt.
Besides making higher education accessible for low-income students, this program serves as an incentive for people who wish to go into public service by offering targeted loan cancellations for specific progression in areas of national need including teaching, nursing and law enforcement.
There are golden rules in the personal finance world, and this is one of them: An emergency fund is absolutely necessary, even if you have a big student loan payment.
This burden has left the U.S. female graduate with over $28,000 in student loan debt, according to The Institute for College Data and Statistics. Moreover, a new report from the Brookings Institution points out that this student debt average is quadruple the amount that it was just 12 years ago.
McCain, by using his power as chairman of the Senate Armed Services Committee to pressure the Department of Defense to back off a legitimate investigation of the University of Phoenix, is doing a disservice to service members and veterans, who deserve to be protected against deceptive recruiting, poor quality programs, and other predatory practices.
How's 75 sound for a retirement age? Too far away? That could be the reality for today's college graduates.
There can't really be any "fresh starts" when it comes to student loan debt. To discharge student loan debt would not merely disrupt the "fiscal integrity" of the student loan program. Simply put, indebted individuals are easier to govern than those who aren't.
Understanding how your loan servicer works, and communicating regularly with the company are your secret weapons for keeping your student loans under control.