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	<title>Business &#38; Money &#187; Kayla Webley &#124; TIME.com</title>
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		<title>Business &#38; Money &#187; Kayla Webley &#124; TIME.com</title>
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		<title>Elizabeth Warren: Students Should Get the Same Rate as the Bankers</title>
		<link>http://business.time.com/2013/05/10/elizabeth-warren-students-should-get-the-same-rate-as-the-bankers/</link>
		<comments>http://business.time.com/2013/05/10/elizabeth-warren-students-should-get-the-same-rate-as-the-bankers/#comments</comments>
		<pubDate>Fri, 10 May 2013 09:45:16 +0000</pubDate>
		<dc:creator>Kayla Webley</dc:creator>
				<category><![CDATA[Educational Financing]]></category>
		<category><![CDATA[Elizabeth Warren]]></category>
		<category><![CDATA[student loans]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=79741</guid>
		<description><![CDATA[Consumer protection maven Sen. Elizabeth Warren, D-Mass., introduced her first piece of legislation this week, a proposal that would allow students to take out government educational loans at the same rate that big banks pay to borrow from the federal government. Under her Bank on Student Loans Fairness Act, for one year, new student borrowers would be able to take out a federally subsidized Stafford loan at 0.75%, compared with the current 3.4% student loan rate. &#8220;Let&#8217;s give [students] the same great deal that the banks get,&#8221; Warren said, introducing her legislation on the Senate floor on Wednesday. (MORE: Face the Red: This New Short Film Will Scare You Into Paying Your Debt) Her legislation is well-timed as Congress gears up to debate student loan rates, which are set to double on July 1. Unless legislators vote to extend the 3.4% rate for another year, some eight million students will be forced to pay back their loans plus 6.8% in annual interest. The average student loan borrower now graduates with a record-high $26,000 in debt. Nationwide, student debt has outpaced credit-card debt, as borrowers struggle to pay back a collective $1 trillion in debt. According to Warren, the federal government makes an average of 36 cents for every dollar it lends to students. As a result, this year, the government will make some $34 billion from students making payments. &#8220;We shouldn&#8217;t be profiting from our students who are drowning in debt, while giving a great deal to the banks,&#8221; she said. &#8220;That&#8217;s just wrong.&#8221; The great deal Warren referred is the Federal Reserve&#8217;s &#8220;discount window&#8221; that banks like Goldman Sachs and J.P. Morgan Chase use to borrow money from the government, generally overnight and generally secured by assets. The rate is so low in part because there&#8217;s very little risk the loans won&#8217;t be repaid. Advocating against charging students nine times what banks pay is likely to win Warren some popular support, but that doesn&#8217;t mean the proposal is likely to make it through Congress. (MORE: Viewpoint: Stop Calling Student Loans a “Bubble”!)<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=79741&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Educational Financing</primary_category><primary_category_link>http://business.time.com/category/planning/educational-financing/</primary_category_link>
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			<media:title type="html">kaylawebley</media:title>
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		<title>Yes, Really: Private Colleges Offering More Financial Aid Than Ever</title>
		<link>http://business.time.com/2013/05/07/yes-really-private-colleges-offering-more-financial-aid-than-ever/</link>
		<comments>http://business.time.com/2013/05/07/yes-really-private-colleges-offering-more-financial-aid-than-ever/#comments</comments>
		<pubDate>Tue, 07 May 2013 09:45:31 +0000</pubDate>
		<dc:creator>Kayla Webley</dc:creator>
				<category><![CDATA[Educational Financing]]></category>
		<category><![CDATA[college]]></category>
		<category><![CDATA[college aid]]></category>
		<category><![CDATA[financial aid]]></category>
		<category><![CDATA[student loans]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=79385</guid>
		<description><![CDATA[Call it the couponing of higher education. After years of skyrocketing tuition costs, many private colleges in the United States are ramping up their financial aid packages in an attempt to attract new students and boost sagging enrollments. For freshmen entering school in 2012, the average “tuition discount rate” – the amount of grant and scholarship money given by schools toward tuition – was 45%, an all-time high, according to a survey of 383 private, non-profit four-year colleges released Monday by the National Association of College and University Business Officers (NACUBO). Those substantial discounts, offered in the form of merit scholarships and need-based aid, are meant to lure cash-strapped students who might not otherwise think of private schools as a viable financial option. (WATCH: Face the Red: This New Short Film Will Scare You Into Paying Your Debt) &#8220;Institutions are responding to students who won&#8217;t enroll unless they have some kind of incentive,&#8221; says Natalie Pullaro Davis, who wrote the survey report. &#8220;Schools are foregoing more of their revenue in order to fill seats and be sensitive to families who are struggling.&#8221; As a result, these schools bring in only about 55 cents of every tuition dollar they charge. But as Pullaro Davis said, &#8220;It&#8217;s better to collect some money on a seat, than to collect no money.&#8221; And many of these colleges do indeed have to worry about having empty seats come fall. The survey found that total undergraduate enrollments in 2012 were down 45.6% from the year before. &#8220;It&#8217;s a tight rope they walk,&#8221; said Mark Kantrowitz, an expert on college costs and the publisher of edvisors.com. &#8220;If they enroll one student by giving them $10,000 more in aid, that&#8217;s $10,000 less that they can give to another student.&#8221; Even with aid at an all-time high, however, families can try to negotiate for a better deal. &#8220;If you think there is some aspect of your background that the college didn&#8217;t consider, it doesn&#8217;t hurt to appeal for more aid,&#8221; Kantrowitz said. &#8220;You can contact the school and say, &#8216;You&#8217;re<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=79385&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Educational Financing</primary_category><primary_category_link>http://business.time.com/category/planning/educational-financing/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/05/149977876-copy.jpg?w=240</featured_image>
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			<media:title type="html">General Views Of Harvard University</media:title>
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			<media:title type="html">kaylawebley</media:title>
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		<title>Face the Red: This New Short Film Will Scare You Into Paying Your Debt</title>
		<link>http://business.time.com/2013/05/06/face-the-red-this-new-short-film-will-scare-you-into-paying-your-debt/</link>
		<comments>http://business.time.com/2013/05/06/face-the-red-this-new-short-film-will-scare-you-into-paying-your-debt/#comments</comments>
		<pubDate>Mon, 06 May 2013 15:10:55 +0000</pubDate>
		<dc:creator>Kayla Webley</dc:creator>
				<category><![CDATA[Educational Financing]]></category>
		<category><![CDATA[Planning]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=79312</guid>
		<description><![CDATA[For many student borrowers, when repayments kick in six months after graduation the looming debt can feel as though it&#8217;s following them around like a dark cloud. Face the Red, a short film from the directors of Martha Marcy May Marlene, cinematizes that feeling by having a menacing red cloud follow around the film&#8217;s star.  Student debt totals more than a collective $1 trillion nationwide, and some 15 million debt holders are under the age of 30. The young age of many borrowers is probably why American Student Assistance (ASA), the non-profit organization that made the film, chose to raise awareness by video. The well-made, genuinely scary film was made by SS+K, the advertising agency responsible for the viral Obama campaign video &#8220;Your First Time,&#8221; starring Lena Dunham. The film is designed to raise awareness for SALT, a website run by ASA that features free educational resources for student loan borrowers. SALT urges borrowers to take control of their debt and manage their finances because, as the film says in its closing line, &#8220;You can&#8217;t outrun [debt]—all you can do it face it and fight it.&#8221; (MORE: Viewpoint: Stop Calling Student Loans a “Bubble”!) (MORE: Three Strategies for Saving Money on College That May Not Work as Promised)<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=79312&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://business.time.com/2013/05/06/face-the-red-this-new-short-film-will-scare-you-into-paying-your-debt/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	<primary_category>Educational Financing</primary_category><primary_category_link>http://business.time.com/category/planning/educational-financing/</primary_category_link>
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			<media:title type="html">kaylawebley</media:title>
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		<title>Selling Their Futures: College Grads Promise a Slice of Their Future Income for Cash Now</title>
		<link>http://business.time.com/2013/01/23/selling-their-futures-college-grads-trading-cash-now-for-a-portion-of-their-future-income/</link>
		<comments>http://business.time.com/2013/01/23/selling-their-futures-college-grads-trading-cash-now-for-a-portion-of-their-future-income/#comments</comments>
		<pubDate>Wed, 23 Jan 2013 13:00:05 +0000</pubDate>
		<dc:creator>Kayla Webley</dc:creator>
				<category><![CDATA[Educational Financing]]></category>
		<category><![CDATA[Planning]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=67238</guid>
		<description><![CDATA[The start of Nathan Sharp&#8217;s story sounds familiar: In 2012, he found himself graduating from Dartmouth College with an MBA and $100,000 in student debt. But rather than take whatever job would help him make his monthly payments, the entrepreneurial-minded Sharp took $50,000 from backers using a start-up called Upstart &#8212; and agreed that in return he would give his investors a portion of his future income. Think of Upstart as Kickstarter (the online funding platform) meets the government&#8217;s Income Based Repayment program, which caps loan payments at 15% of discretionary income. Founded by Google&#8216;s former head of enterprise, Dave Girouard, Upstart is the latest initiative aimed at getting young people to strike out on their own before the responsibilities that come with a family and a mortgage set in. &#8220;They&#8217;re at a good time in their lives to take risks,&#8221; Girouard said. &#8220;But a lot of times, even when students have something interesting they&#8217;d like to do, they say &#8216;I&#8217;m going to accept this job…&#8217; and its usually for very pragmatic reasons.&#8221; &#8220;Universities are really well set up to help students go down the traditional path—it almost happens by default,&#8221; Girouard continued. &#8220;That struck me as a misallocation of capital in a sense because for what amounts to a relatively low amount of money—$20,000 to 30,000 in debt—kids are making decisions that are probably going to change the entire course of their careers because often when you get onto the treadmill of the corporate job path, you never get off.&#8221; (MORE: The Myth of the 4-Year College Degree) Upstart encourages students to go their own way. This is how it works: Beginning in the spring of their junior year, college students or recent grads—anyone from a poet who wants to start a literary magazine to a business major looking to build a boutique hotel in Brazil—can apply to be an &#8220;upstart&#8221;. The applicant is screened to make sure they are who they say they are and the company predicts how much money they will make over the next decade. That<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=67238&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Educational Financing</primary_category><primary_category_link>http://business.time.com/category/planning/educational-financing/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/08/1288976471.jpg?w=240</featured_image>
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			<media:title type="html">College Graduates</media:title>
		</media:content>

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			<media:title type="html">kaylawebley</media:title>
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		<title>College Costs: Will Tuition Discounts Get More Students to Major in Sciences?</title>
		<link>http://nation.time.com/2013/01/03/college-costs-will-tuition-discounts-get-more-students-to-major-in-science/?iid=us-main-lead</link>
		<comments>http://nation.time.com/2013/01/03/college-costs-will-tuition-discounts-get-more-students-to-major-in-science/?iid=us-main-lead#comments</comments>
		<pubDate>Thu, 03 Jan 2013 16:29:21 +0000</pubDate>
		<dc:creator>Kayla Webley</dc:creator>
				<category><![CDATA[Career Strategies]]></category>
		<category><![CDATA[Careers & Workplace]]></category>
		<category><![CDATA[Educational Financing]]></category>
		<category><![CDATA[Planning]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=65726</guid>
		<description><![CDATA[To steer more students into high-paying fields, Florida is considering freezing tuition rates in certain areas. Will it work?<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=65726&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Career Strategies</primary_category><primary_category_link>http://business.time.com/category/careers-workplace/career-strategies/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/01/rear-view-of-students-wearing-graduation-caps.jpeg?w=240</featured_image>
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			<media:title type="html">Rear view of students wearing graduation caps</media:title>
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			<media:title type="html">kaylawebley</media:title>
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		<title>From Chick-fil-A to Amazon, Why Companies Take a Stand on Social Issues</title>
		<link>http://business.time.com/2012/07/31/when-companies-go-political-from-chick-fil-a-to-amazon-why-companies-choose-to-take-a-stand-on-social-issues/</link>
		<comments>http://business.time.com/2012/07/31/when-companies-go-political-from-chick-fil-a-to-amazon-why-companies-choose-to-take-a-stand-on-social-issues/#comments</comments>
		<pubDate>Tue, 31 Jul 2012 09:45:42 +0000</pubDate>
		<dc:creator>Kayla Webley</dc:creator>
				<category><![CDATA[Amazon]]></category>
		<category><![CDATA[Companies & Industries]]></category>
		<category><![CDATA[Food and Beverage Industry]]></category>
		<category><![CDATA[Technology & Media]]></category>
		<category><![CDATA[anti-gay]]></category>
		<category><![CDATA[Chick-fil-A]]></category>
		<category><![CDATA[Dan Cathy]]></category>
		<category><![CDATA[gay marriage]]></category>
		<category><![CDATA[gay rights]]></category>
		<category><![CDATA[General Mills]]></category>
		<category><![CDATA[Google]]></category>
		<category><![CDATA[JC Penney]]></category>
		<category><![CDATA[Jeff Bezos]]></category>
		<category><![CDATA[Oreo]]></category>
		<category><![CDATA[politics]]></category>
		<category><![CDATA[Proposition 8]]></category>
		<category><![CDATA[Referendum 74]]></category>
		<category><![CDATA[religion]]></category>
		<category><![CDATA[Sergey Brin]]></category>
		<category><![CDATA[social issues]]></category>
		<category><![CDATA[Target]]></category>
		<category><![CDATA[WinShape Foundation]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=45038</guid>
		<description><![CDATA[In terms of what they sell, neither company has anything to do with gay marriage -- so why did they each choose to enter the political arena by making a statement on a divisive issue?<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=45038&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>22</slash:comments>
	<primary_category>Food and Beverage Industry</primary_category><primary_category_link>http://business.time.com/category/companies-industries/food-and-beverage-industry/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/07/2100_biz_cfa_0730.jpg?w=240</featured_image>
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			<media:title type="html">Chick-fil-A</media:title>
		</media:content>

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			<media:title type="html">kaylawebley</media:title>
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		<item>
		<title>College &#8216;Shopping Sheet&#8217; Designed to Help Students Compare Financial Aid, Overall Costs</title>
		<link>http://business.time.com/2012/07/26/college-shopping-sheet-designed-to-help-students-compare-financial-aid-overall-costs/</link>
		<comments>http://business.time.com/2012/07/26/college-shopping-sheet-designed-to-help-students-compare-financial-aid-overall-costs/#comments</comments>
		<pubDate>Thu, 26 Jul 2012 13:00:53 +0000</pubDate>
		<dc:creator>Kayla Webley</dc:creator>
				<category><![CDATA[Educational Financing]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[Arne Duncan]]></category>
		<category><![CDATA[college cost]]></category>
		<category><![CDATA[Consumer Financial Protection Bureau]]></category>
		<category><![CDATA[cost of college]]></category>
		<category><![CDATA[Department of Education]]></category>
		<category><![CDATA[Federal Loans]]></category>
		<category><![CDATA[Obama Administration]]></category>
		<category><![CDATA[Shopping Sheet]]></category>
		<category><![CDATA[Student debt]]></category>
		<category><![CDATA[Student loan debt]]></category>
		<category><![CDATA[student loans]]></category>

		<guid isPermaLink="false">http://moneyland.time.com/?p=42592</guid>
		<description><![CDATA[Aiming to make the cost of college a little more clear—and easily comparable—the Obama Administration released a new guide on Tuesday to help students understand how much they will have to pay, how much debt they may have to take on, and how likely it is that they will be able to repay the debt. The guide, called a &#8220;Shopping Sheet,&#8221; is a one-page form created by the Department of Education and the new Consumer Financial Protection Bureau that will detail the estimated price of attending a university (tuition, housing, books, etc.), the grants and scholarships that reduce the expenditure, and the resulting net cost, or what students will actually be responsible for. The guide will show students some options for how they might be able to pay for college, including work study, loans and expected family contribution. (MORE: $22.6 Billion in Airline Fees Last Year — and New Hikes to Boot) The form also, and perhaps most importantly, features a section on the school&#8217;s graduation rate, loan default rate and the median amount students typically borrow in federal loans at the school in question, as well as the standard monthly federal loan payment for students who borrow that amount and repay it over a 10-year period. It&#8217;s all written in plain English: for example, &#8220;Students at [university name] typically borrow $XX,XXX in Federal loans over X years. The Federal loan payment over 10 years for this amount is approximately $X,XXX per month.&#8221; The form is designed to reduce the confusion that can come when financial aid letters arrive in the mail. Currently, there is no uniformity—financial aid letters vary from university to university (and remember, there are some 7,000 colleges and universities nationwide) and often feature confusing, and in some cases misleading, jargon that makes it difficult for families to figure out how one college stacks up against another in terms of cost. “Countless students I meet across the country feel like the first time they really understood how much student loan debt they were in was when the first<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=58213&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://business.time.com/2012/07/26/college-shopping-sheet-designed-to-help-students-compare-financial-aid-overall-costs/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	<primary_category>Educational Financing</primary_category><primary_category_link>http://business.time.com/category/planning/educational-financing/</primary_category_link>
		<media:content url="http://1.gravatar.com/avatar/70ed4d3924bb7fd88021174e9c19bb4e?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">kaylawebley</media:title>
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		<title>Where Are College Costs Going Up? 14 Public Universities with the Fastest-Growing Tuition</title>
		<link>http://business.time.com/2012/06/15/where-are-college-costs-going-up-14-public-universities-with-the-fastest-growing-tuition/</link>
		<comments>http://business.time.com/2012/06/15/where-are-college-costs-going-up-14-public-universities-with-the-fastest-growing-tuition/#comments</comments>
		<pubDate>Fri, 15 Jun 2012 10:00:02 +0000</pubDate>
		<dc:creator>Kayla Webley</dc:creator>
				<category><![CDATA[Educational Financing]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[Arizona]]></category>
		<category><![CDATA[california]]></category>
		<category><![CDATA[college]]></category>
		<category><![CDATA[college costs]]></category>
		<category><![CDATA[tuition]]></category>
		<category><![CDATA[UCLA]]></category>

		<guid isPermaLink="false">http://moneyland.time.com/?p=40686</guid>
		<description><![CDATA[It's no secret that college costs are going up, but some students are being hit harder than others. TIME parses data from the Department of Education to come up with this list of public, four-year colleges with the largest increases in tuition. <img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=57931&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://business.time.com/2012/06/15/where-are-college-costs-going-up-14-public-universities-with-the-fastest-growing-tuition/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	<primary_category>Educational Financing</primary_category><primary_category_link>http://business.time.com/category/planning/educational-financing/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/06/collegedollars.jpg?w=240</featured_image>
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			<media:title type="html">Dollars</media:title>
		</media:content>

		<media:content url="http://1.gravatar.com/avatar/70ed4d3924bb7fd88021174e9c19bb4e?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">kaylawebley</media:title>
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		<title>Struggling to Pay Your Student Loans? Move to These Towns</title>
		<link>http://business.time.com/2012/06/14/struggling-to-pay-your-student-loans-move-to-these-towns/</link>
		<comments>http://business.time.com/2012/06/14/struggling-to-pay-your-student-loans-move-to-these-towns/#comments</comments>
		<pubDate>Thu, 14 Jun 2012 13:00:26 +0000</pubDate>
		<dc:creator>Kayla Webley</dc:creator>
				<category><![CDATA[Educational Financing]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[class of 2012]]></category>
		<category><![CDATA[Niagara]]></category>
		<category><![CDATA[Population]]></category>
		<category><![CDATA[Student debt]]></category>
		<category><![CDATA[Student loan debt]]></category>
		<category><![CDATA[student loans]]></category>

		<guid isPermaLink="false">http://moneyland.time.com/?p=40773</guid>
		<description><![CDATA[In an effort to boost dwindling populations, some towns have come up with an inventive idea: Move here, and we&#8217;ll help pay your student loans. As reported by ABC News, Niagara Falls, N.Y., where the population has fallen from about 100,000 some 50 years ago, to less than 50,000 today, is hoping to lure recent graduates to town with a loan repayment plan. According to the ABC News, under the plan, students who have graduated with a 2- or 4-year degree in the past two years can apply for up to $3,500 a year for two years to put toward their student loans. (The city has allocated $200,000 toward the prorgram.) To qualify, graduates will have to rent an apartment or buy a home within a designated area of the city. (MORE: Why Have So Few Student-Loan Borrowers Taken Advantage of Income-Based Repayment?) It&#8217;s an innovative idea, but since the graduates most likely to be desperate enough to move to a less-desirable location in order to pay their debts are likely those borrowers who have very high debt loads, the $3,500 won&#8217;t be much help. Still, the plan is likely to win some favor among the Class of 2012 graduates who are graduating with an average of $25,000 in student loan debt. ABC News says Kansas is taking things a step further. Fifty counties in the state are providing up to $15,000 in student loan repayments to new full-time residents. In order to qualify, applicants must have earned an associate&#8217;s, bachelor&#8217;s or post-graduate degree, establish residency in the county and have an outstanding loan balance. The manager of the Kansas program told ABC News the incentive is already helping them draw a variety of young professionals, including health professionals, teachers, veterinarians, accountants and lawyers. Kayla Webley is a Staff Writer at TIME. Find her on Twitter at @kaylawebley, on Facebook or on Google+. You can also continue the discussion on TIME’s Facebook page and on Twitter at @TIME.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=40773&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://business.time.com/2012/06/14/struggling-to-pay-your-student-loans-move-to-these-towns/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	<primary_category>Educational Financing</primary_category><primary_category_link>http://business.time.com/category/planning/educational-financing/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2011/07/collegeaid1.jpg?w=240</featured_image>
		<media:thumbnail url="http://timebusinessblog.files.wordpress.com/2011/07/collegeaid1.jpg?w=240" />
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			<media:title type="html">Student Loans</media:title>
		</media:content>

		<media:content url="http://1.gravatar.com/avatar/70ed4d3924bb7fd88021174e9c19bb4e?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">kaylawebley</media:title>
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		<title>Why Have So Few Student-Loan Borrowers Taken Advantage of Income-Based Repayment?</title>
		<link>http://business.time.com/2012/06/12/why-have-so-few-student-loan-borrowers-have-taken-advantage-of-income-based-repayment/</link>
		<comments>http://business.time.com/2012/06/12/why-have-so-few-student-loan-borrowers-have-taken-advantage-of-income-based-repayment/#comments</comments>
		<pubDate>Tue, 12 Jun 2012 13:00:58 +0000</pubDate>
		<dc:creator>Kayla Webley</dc:creator>
				<category><![CDATA[Educational Financing]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[borrowers]]></category>
		<category><![CDATA[financial hardship]]></category>
		<category><![CDATA[IBR]]></category>
		<category><![CDATA[income-based repayment]]></category>
		<category><![CDATA[Obama Adminsitration]]></category>
		<category><![CDATA[repayment]]></category>
		<category><![CDATA[Student debt]]></category>
		<category><![CDATA[Student loan debt]]></category>
		<category><![CDATA[student loans]]></category>

		<guid isPermaLink="false">http://moneyland.time.com/?p=40548</guid>
		<description><![CDATA[Last week, the Obama Administration outlined a plan to make more borrowers aware of the Income-Based Repayment (IBR) program and make it easier for those who qualify to apply. The plan is the latest step in the Administration&#8217;s efforts to lessen the burden of student debt and is specifically designed to encourage more borrowers to sign on to a program that, despite being a great option for distressed borrowers, has been underutilized. Since 2009, federal student-loan borrowers who are experiencing a &#8220;partial financial hardship&#8221; and are thus unable to make payments under their standard repayment plan have been able to enroll in IBR to cap their monthly student-loan payments at 15% of their discretionary income. (In 2010, President Obama signed legislation that lowered the cap to 10% for borrowers beginning in 2014.) (MORE: How to Get a Job? Beat the Machines) The calculation is complicated, but basically, lenders will look at how much a borrower makes, note how far above the poverty line it is and adjust the payments accordingly. If the result is below the standard repayment plan, then borrowers are given the option to pay less. If they stick with the plan for 25 years, any remaining debt (both principal and interest) is automatically forgiven. For those who work full-time at a nonprofit or public-service job, the remaining debt is forgiven after only 10 years. In other words, IBR is a much more reasonable option for many borrowers who are struggling to make monthly loan payments. Yet even though the Federal Reserve Bank of New York estimates that more than 5 million student-loan borrowers currently have at least one loan that is past due, as of February, only 630,000 people were enrolled in IBR. &#8220;Too few borrowers are aware of the options available to them to help manage their student-loan debt, including reducing their monthly payments through IBR,&#8221; President Obama wrote in a White House memo sent to the Secretaries of the Departments of Education and the Treasury and released to reporters last week. &#8220;Additionally, too many borrowers<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=40548&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://business.time.com/2012/06/12/why-have-so-few-student-loan-borrowers-have-taken-advantage-of-income-based-repayment/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	<primary_category>Educational Financing</primary_category><primary_category_link>http://business.time.com/category/planning/educational-financing/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/06/grad1.jpeg?w=240</featured_image>
		<media:thumbnail url="http://timebusinessblog.files.wordpress.com/2012/06/grad1.jpeg?w=240" />
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			<media:title type="html">President Obama Delivers Commencement Address At Joplin High School</media:title>
		</media:content>

		<media:content url="http://1.gravatar.com/avatar/70ed4d3924bb7fd88021174e9c19bb4e?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">kaylawebley</media:title>
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		<title>Woman With Asperger’s Dodges Bullet on Nearly $340,000 in Student Loans</title>
		<link>http://newsfeed.time.com/2012/05/30/woman-with-aspergers-dodges-bullet-on-nearly-340000-in-student-loans/</link>
		<comments>http://newsfeed.time.com/2012/05/30/woman-with-aspergers-dodges-bullet-on-nearly-340000-in-student-loans/#comments</comments>
		<pubDate>Wed, 30 May 2012 18:16:17 +0000</pubDate>
		<dc:creator>Kayla Webley</dc:creator>
				<category><![CDATA[Educational Financing]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[Asperger's]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[Student debt]]></category>
		<category><![CDATA[student loans]]></category>
		<category><![CDATA[tuition]]></category>

		<guid isPermaLink="false">http://moneyland.time.com/?p=39964</guid>
		<description><![CDATA[A bankruptcy judge has ruled in favor of a Maryland resident who claimed she could not repay her student loans because her Asperger’s syndrome prevents her from holding a job.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=57849&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://newsfeed.time.com/2012/05/30/woman-with-aspergers-dodges-bullet-on-nearly-340000-in-student-loans/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	<primary_category>Educational Financing</primary_category><primary_category_link>http://business.time.com/category/planning/educational-financing/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/05/diploma1.jpeg?w=240</featured_image>
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			<media:title type="html">Diploma</media:title>
		</media:content>

		<media:content url="http://1.gravatar.com/avatar/70ed4d3924bb7fd88021174e9c19bb4e?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">kaylawebley</media:title>
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		<title>6 Common Misconceptions About Financial Aid</title>
		<link>http://business.time.com/2012/04/25/6-common-misconceptions-about-financial-aid/</link>
		<comments>http://business.time.com/2012/04/25/6-common-misconceptions-about-financial-aid/#comments</comments>
		<pubDate>Wed, 25 Apr 2012 10:45:41 +0000</pubDate>
		<dc:creator>Kayla Webley</dc:creator>
				<category><![CDATA[Educational Financing]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[college cost]]></category>
		<category><![CDATA[financial aid]]></category>
		<category><![CDATA[financial aid award letters]]></category>
		<category><![CDATA[Paying for College]]></category>
		<category><![CDATA[Student debt]]></category>
		<category><![CDATA[student loans]]></category>
		<category><![CDATA[tuition]]></category>

		<guid isPermaLink="false">http://moneyland.time.com/?p=37754</guid>
		<description><![CDATA[So, you&#8217;ve gotten into college (congrats!), filled out your FAFSA (great!) and are now staring at a financial-aid award letter, wondering what to do next (uh-oh). As the May 1 deadline to accept financial-aid offers approaches, TIME Moneyland spoke to Mark Kantrowitz, publisher of FinAid.org and Fastweb.com, to thwart many of the common misconceptions families have when it comes to financing a college education. 1. Loans reduce the cost of college Student loans help families manage their cash flow by spreading out the cost of college over many years, but they do not lower the expense. &#8220;A loan is a loan is a loan,&#8221; says Kantrowitz. &#8220;But a lot of financial-aid award letters treat loans as if they reduce the cost.&#8221; They don&#8217;t. Instead, loans simply reduce the amount of money families have to write a check for up front. Additionally, because of interest, they actually increase the final cost. (MORE: Is Forgiving Student-Loan Debt a Good Idea?) 2. Net price is the same as net cost Many financial-aid award letters confuse students and parents by listing both the &#8220;net price&#8221; (the total cost of college, minus grants) and also the &#8220;net cost&#8221; (the total cost of college, minus grants and loans) without explaining the difference between the two. As a result it looks like the (lower) net cost is what a family will be responsible for, when it is actually the (higher) net price (since unlike grants, loans are not free money). &#8220;Too often families think they are getting a free ride when the award letter includes $10,000 or $20,000 or more in student-and-parent loans,&#8221; Kantrowitz said. 3. A lot of students get a free ride In reality, Kantrowitz says, fewer than 0.3% of students receive enough scholarships and grants to cover the full cost of attendance. Even those students who come close to having all their costs covered are rare. Only 1% of students have 90% of their costs covered, while 3.4% have 75% of their costs covered. A slightly more significant 14.3% have half of their costs<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=37754&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://business.time.com/2012/04/25/6-common-misconceptions-about-financial-aid/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	<primary_category>Educational Financing</primary_category><primary_category_link>http://business.time.com/category/planning/educational-financing/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2011/07/collegeaid1.jpg?w=240</featured_image>
		<media:thumbnail url="http://timebusinessblog.files.wordpress.com/2011/07/collegeaid1.jpg?w=240" />
		<media:content url="http://timebusinessblog.files.wordpress.com/2011/07/collegeaid1.jpg?w=240" medium="image">
			<media:title type="html">Student Loans</media:title>
		</media:content>

		<media:content url="http://1.gravatar.com/avatar/70ed4d3924bb7fd88021174e9c19bb4e?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">kaylawebley</media:title>
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		<title>Is Forgiving Student Loan Debt a Good Idea?</title>
		<link>http://business.time.com/2012/04/20/is-forgiving-student-loan-debt-a-good-idea/</link>
		<comments>http://business.time.com/2012/04/20/is-forgiving-student-loan-debt-a-good-idea/#comments</comments>
		<pubDate>Fri, 20 Apr 2012 10:45:17 +0000</pubDate>
		<dc:creator>Kayla Webley</dc:creator>
				<category><![CDATA[Educational Financing]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[debt forgiveness]]></category>
		<category><![CDATA[income-based repayment]]></category>
		<category><![CDATA[Occupy Student Debt]]></category>
		<category><![CDATA[Robert Applebaum]]></category>
		<category><![CDATA[Student debt]]></category>
		<category><![CDATA[Student loan debt]]></category>
		<category><![CDATA[student loans]]></category>

		<guid isPermaLink="false">http://moneyland.time.com/?p=37233</guid>
		<description><![CDATA[Every few weeks now a petition pops up in my Facebook newsfeed urging the government to forgive all student debt. The comment from the person posting the petition usually goes something like this, &#8220;Guessing this will never happen, but can&#8217;t hurt to sign on!&#8221; The petition now has nearly 670,000 signatures. Scrolling through the stories posted on the petition (and similar stories told on the related Occupy Student Debt site) can be a heart-wrenching experience. Former students tell stories of unemployment, worthless majors, low-paying jobs and resulting six-figure debt, insurmountable interest, forbearance and default. From a human standpoint, it&#8217;s easy to see why forgiving student debt holds some appeal. But many have questioned not only the enormous and economically unfeasible cost, but the purported benefits and fairness of a one-time student loan bailout. (MORE: College Charges Students Extra to Get Into In-Demand Classes) Feeling shackled by an estimated $88,000 in student loan debt, Robert Applebaum started the petition in 2009 and has seen its popularity skyrocket since last fall as some members of the Occupy Wall Street movement adopted the battle cry. His proposal is simple: Provide a one-time bailout of student loan debt—currently valued at $1 trillion—as a way to stimulate the still-limping economy. After all, college graduates are the type of people society needs to do things like start businesses, buy homes and cars, invent things and make babies — and people burdened with debt are less likely to make those kinds of decisions. Unburden them and the housing market might improve, along with the overall economy. &#8221;With the stroke of the President&#8217;s pen, millions of Americans would suddenly have hundreds, or in some cases, thousands of extra dollars in their pockets each and every month with which to spend on ailing sectors of the economy,&#8221; Applebaum writes in the petition. That sounds like a very expensive proposition, of course. But so were the bank and auto bailouts—and, the thinking goes, if &#8220;fat cat&#8221; bankers and auto makers got a bailout, why not college graduates? Well, as Justin Wolfers writes<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=37233&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://business.time.com/2012/04/20/is-forgiving-student-loan-debt-a-good-idea/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	<primary_category>Educational Financing</primary_category><primary_category_link>http://business.time.com/category/planning/educational-financing/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/02/bendypencil1.jpg?w=240</featured_image>
		<media:thumbnail url="http://timebusinessblog.files.wordpress.com/2012/02/bendypencil1.jpg?w=240" />
		<media:content url="http://timebusinessblog.files.wordpress.com/2012/02/bendypencil1.jpg?w=240" medium="image">
			<media:title type="html">Pencil</media:title>
		</media:content>

		<media:content url="http://1.gravatar.com/avatar/70ed4d3924bb7fd88021174e9c19bb4e?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">kaylawebley</media:title>
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		<title>College Charges Students Extra to Get into In-Demand Classes</title>
		<link>http://business.time.com/2012/04/02/college-charges-students-extra-to-get-into-in-demand-classes/</link>
		<comments>http://business.time.com/2012/04/02/college-charges-students-extra-to-get-into-in-demand-classes/#comments</comments>
		<pubDate>Mon, 02 Apr 2012 13:00:11 +0000</pubDate>
		<dc:creator>Kayla Webley</dc:creator>
				<category><![CDATA[Educational Financing]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[budget]]></category>
		<category><![CDATA[california]]></category>
		<category><![CDATA[California State University]]></category>
		<category><![CDATA[community college]]></category>
		<category><![CDATA[higher education]]></category>
		<category><![CDATA[Jerry Brown]]></category>
		<category><![CDATA[Santa Monica College]]></category>
		<category><![CDATA[two-tier]]></category>

		<guid isPermaLink="false">http://moneyland.time.com/?p=36359</guid>
		<description><![CDATA[Really need to take that econ course? It&#8217;s going to cost you. Santa Monica College is rolling out a two-tiered pay system so students who are desperate to get in to a class can gain admittance, if they can pony up the extra cash. According to the New York Times, students at the California community college have long struggled to get spots in the most popular courses. Rather than continue the status quo, administrators will charge $180 per credit hour for the most expensive courses this summer, up from the current $36 per credit hour. That&#8217;s a steep increase, but may be worth it, especially for those students who need to take a specific course before they can transfer to a four-year university. (MORE: Sorry, Kids: Your Parents Feel Less Able to Help Pay for College) But, as the Times notes, requiring extra funds for enrollment calls the traditional role and obligations of community colleges into question. Two-year colleges have always been a less-expensive option for students—and an especially good option for those who would like to get basic prerequisites out of the way before transferring to a more expensive four-year college. But for other students, community colleges are their only shot at getting a higher education. That&#8217;s because while low-income students are too often priced out of traditional four-year colleges, at community colleges they can complete job training courses that often result in a much higher-paying job than they could have gotten with only a high school diploma. So, in the worst-case scenario, charging more for popular, in-demand courses could freeze low-income students out of the courses they need the most in order to get ahead. It&#8217;s likely, however, that budget cuts have made it so this is the only remaining option for Santa Monica College, which has cut more than 1,100 classes from its fall term. The state of California was hit especially hard by the recession, and according to the Times, since 2008 the state&#8217;s community college system has lost more than $809 million in state aid,<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=36359&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Educational Financing</primary_category><primary_category_link>http://business.time.com/category/planning/educational-financing/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/04/class1.jpg?w=240</featured_image>
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			<media:title type="html">class</media:title>
		</media:content>

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			<media:title type="html">kaylawebley</media:title>
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		<title>Sorry, Kids: Your Parents Feel Less Able to Help Pay for College</title>
		<link>http://business.time.com/2012/03/29/sorry-kids-your-parents-feel-less-able-to-help-pay-for-college/</link>
		<comments>http://business.time.com/2012/03/29/sorry-kids-your-parents-feel-less-able-to-help-pay-for-college/#comments</comments>
		<pubDate>Thu, 29 Mar 2012 10:45:27 +0000</pubDate>
		<dc:creator>Kayla Webley</dc:creator>
				<category><![CDATA[Educational Financing]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[Ameriprise Financial]]></category>
		<category><![CDATA[Baby Boomers]]></category>
		<category><![CDATA[college]]></category>
		<category><![CDATA[education financing]]></category>
		<category><![CDATA[Money Across Generations]]></category>
		<category><![CDATA[Student debt]]></category>
		<category><![CDATA[student loans]]></category>

		<guid isPermaLink="false">http://moneyland.time.com/?p=36182</guid>
		<description><![CDATA[What a difference five years can make. A new survey from Amerprise Financial shows that parents (and future parents) feel they are much less capable of helping their children foot the bill for college than in years past. According to the latest Money Across Generations report, only 25% of adults, aged 18 to 46, surveyed said they believed they would be able to help their children pay for their education, down from 49% in 2007. Only 24% of affluent baby boomers, those aged 47 to 65 who make more than $100,000, said they were very confident they would be able to help their children or grandchildren pay for education. If they aren&#8217;t able (or willing) to help their children pay for school, who is? (MORE: Students, Your Loan Interest Rate is About to Double) Not only does the survey show the lingering signs of the Great Recession, it shows that things are only likely to get worse for college students, who are already taking on a record-high average of $25,000 debt. Last week, the total amount of outstanding student debt reached a grim milestone, topping $1 trillion for the first time in history, and last year the total amount of student loans taken out topped $100 billion, also a first. Both totals are sure to increase as students receive less financial assistance from their parents to attend school. Here are some other findings from the report, which focused on the opinions of baby boomers: About half of baby boomers say they are optimistic about the financial future of the U.S., down from about two-thirds in 2007; Just 17% say they are &#8220;very optimistic&#8221; about their personal financial future (remember, these are people bringing in $100,000+ a year), down from 39% five years ago; 45% of baby boomers worry that their children&#8217;s financial situation will prohibit them from having the same opportunities they have enjoyed; and 55% are concerned their children will not have enough financial resources to achieve a secure retirement. Kayla Webley is a Staff Writer at TIME. Find her<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=36182&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Educational Financing</primary_category><primary_category_link>http://business.time.com/category/planning/educational-financing/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/03/paying_college_03291.jpg?w=240</featured_image>
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			<media:title type="html">College Student</media:title>
		</media:content>

		<media:content url="http://1.gravatar.com/avatar/70ed4d3924bb7fd88021174e9c19bb4e?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">kaylawebley</media:title>
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		<title>Students, Your Loan Interest Rate Is About to Double</title>
		<link>http://business.time.com/2012/03/20/students-your-loan-interest-rate-is-about-to-double/</link>
		<comments>http://business.time.com/2012/03/20/students-your-loan-interest-rate-is-about-to-double/#comments</comments>
		<pubDate>Tue, 20 Mar 2012 10:30:56 +0000</pubDate>
		<dc:creator>Kayla Webley</dc:creator>
				<category><![CDATA[Educational Financing]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[Congress]]></category>
		<category><![CDATA[Democrats]]></category>
		<category><![CDATA[federal student loans]]></category>
		<category><![CDATA[interest rate double]]></category>
		<category><![CDATA[interest rate hike]]></category>
		<category><![CDATA[interest rates]]></category>
		<category><![CDATA[President Obama]]></category>
		<category><![CDATA[repayment]]></category>
		<category><![CDATA[republicans]]></category>
		<category><![CDATA[Stafford loans]]></category>
		<category><![CDATA[Student debt]]></category>
		<category><![CDATA[student loan interest rates]]></category>
		<category><![CDATA[student loans]]></category>
		<category><![CDATA[subsidized]]></category>

		<guid isPermaLink="false">http://moneyland.time.com/?p=35500</guid>
		<description><![CDATA[Prepare yourself: on July 1, as many as 8 million college students will see their interest rates on federally subsidized student loans double, from 3.4% to 6.8%. According to the U.S. Public Interest Research Group, that increase amounts to the average Stafford loan borrower&#8217;s paying $2,800 more over a standard 10-year repayment term for loans made after June 30. It&#8217;s worse for those students who take out the most money. Those who borrow the maximum $23,000 in subsidized student loans will see their debt load upped by $5,000 over a 10-year repayment plan and $11,000 over a 20-year repayment plan. (LIST: The Colleges with the Most  — and Least — Student Debt) With the deadline looming, college students last week delivered some 130,000 letters to Congress, urging legislators to keep the interest rate at 3.4%. Like many things in Washington this election year, the issue has become a partisan battle. President Obama and other Democrats have urged Congress to act to extend the low rate (Democrat Representative Joe Courtney of Connecticut has introduced legislation that would stop the rate hike), while Republicans favor allowing the rate to return to 6.8%. Even the cost estimates vary: Democrats predict that keeping the rate at 3.4% for one additional year would cost about $3 billion, while Republicans say it would cost nearly $7 billion. (Mark Kantrowitz of FinAid.org estimated the cost at $5.6 billion for one year.) At the outset, doubling the interest rate seems like a really bad idea. The percentage of student loan borrowers in default is on the rise as student debt outpaces credit card debt. Students are already graduating with a record-high average debt of $25,000. And last year, for the first time ever, the total amount of student loans taken out topped $100 billion, and the total outstanding student loan debt is expected to top $1 trillion this year — also a first. But the increase isn&#8217;t quite as devastating as it has been portrayed. To start, the 3.4% rate has been in effect only for one year. The rate decrease<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=57351&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Educational Financing</primary_category><primary_category_link>http://business.time.com/category/planning/educational-financing/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/03/bookcash.jpg?w=240</featured_image>
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			<media:title type="html">Book</media:title>
		</media:content>

		<media:content url="http://1.gravatar.com/avatar/70ed4d3924bb7fd88021174e9c19bb4e?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">kaylawebley</media:title>
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		<title>Background Check for the Digital Age: Employers, Colleges Insist on Full Facebook Access</title>
		<link>http://business.time.com/2012/03/06/background-check-for-the-digital-age-employers-colleges-ask-for-facebook-passwords/</link>
		<comments>http://business.time.com/2012/03/06/background-check-for-the-digital-age-employers-colleges-ask-for-facebook-passwords/#comments</comments>
		<pubDate>Tue, 06 Mar 2012 17:20:56 +0000</pubDate>
		<dc:creator>Kayla Webley</dc:creator>
				<category><![CDATA[Educational Financing]]></category>
		<category><![CDATA[Identity Theft]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[Saving & Spending]]></category>
		<category><![CDATA[college]]></category>
		<category><![CDATA[education]]></category>
		<category><![CDATA[facebook]]></category>
		<category><![CDATA[Passwords]]></category>

		<guid isPermaLink="false">http://moneyland.time.com/?p=34689</guid>
		<description><![CDATA[For years we&#8217;ve been told to keep drunken Facebook photos and racy wall posts private to avoid the judging eye of a potential employer, but now, according to MSNBC&#8217;s Red Tape blog, even that might not be enough. As Bob Sullivan reports, some employers and colleges are taking the unusual step of either asking applicants to show them the private side of their Facebook profile in an interview or add them as a friend to gain access to friends-only posts. In Maryland, the Department of Corrections has taken to asking interviewees to log in to their account and show the interviewer wall posts, whom they are friends with and photos. That practice, while eyebrow raising, actually makes a bit of sense, because the applicants are being screened for jobs in prisons — but another example MSNBC cites is more curious. (MORE: Why It&#8217;s O.K. to Disregard the Opinions of Wine Experts) According to Sullivan, student athletes at several colleges nationwide are required to friend a coach or compliance officer on Facebook. MSNBC cites this requirement from the University of North Carolina&#8217;s student-athlete handbook as an example typical of many colleges: &#8220;Each team must identify at least one coach or administrator who is responsible for having access to and regularly monitoring the content of team members&#8217; social-networking sites and postings.&#8221; It also says, &#8220;The athletics department also reserves the right to have other staff members monitor athletes post,&#8221; leaving the door open for the university to use outside social-media-monitoring companies. This story comes the same day as a San Francisco Chronicle story on scholarship providers cruising Facebook and other social-media sites to help vet applicants. Now presumably the scholarship providers do not have access to &#8220;friends only&#8221; posts, so it&#8217;s not any different from employers who probe the public activities of applicants online, but the story brings to light yet another way one&#8217;s online activities could affect future endeavors. According to the Chronicle, about 75% of scholarship providers surveyed by FastWeb and the National Scholarship Providers Association said they are looking for<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=57254&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Identity Theft</primary_category><primary_category_link>http://business.time.com/category/saving-spending/identity-theft-saving-spending/</primary_category_link>
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			<media:title type="html">kaylawebley</media:title>
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		<title>Why Can&#8217;t You Discharge Student Loans in Bankruptcy?</title>
		<link>http://business.time.com/2012/02/09/why-cant-you-discharge-student-loans-in-bankruptcy/</link>
		<comments>http://business.time.com/2012/02/09/why-cant-you-discharge-student-loans-in-bankruptcy/#comments</comments>
		<pubDate>Thu, 09 Feb 2012 12:00:47 +0000</pubDate>
		<dc:creator>Kayla Webley</dc:creator>
				<category><![CDATA[Economics & Policy]]></category>
		<category><![CDATA[Educational Financing]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[bankruptcy code]]></category>
		<category><![CDATA[college]]></category>
		<category><![CDATA[National Association of Consumer Bankruptcy Attorneys]]></category>
		<category><![CDATA[Private Student Loans]]></category>
		<category><![CDATA[Student debt]]></category>

		<guid isPermaLink="false">http://moneyland.time.com/?p=32234</guid>
		<description><![CDATA[If you&#8217;re struggling to pay credit card debt, car loans or even gambling debt, you can wipe the slate clean in bankruptcy. Struggling to pay your student loans? Sorry, you&#8217;ll just have to figure that one out on your own. In an effort to shed light on a policy they say &#8220;doesn&#8217;t make any sense,&#8221; a group of bankruptcy lawyers issued a report on Tuesday that highlights the need to change the U.S. bankruptcy code so that it offers college grads relief from inescapable debt loads. In the report from the National Association of Consumer Bankruptcy Attorneys (NACBA), four out of five of the 860 lawyers surveyed said the number of potential clients they encounter with student loan debt has &#8220;significantly&#8221; or &#8220;somewhat&#8221; increased over the past 3 to 4 years. (MORE: Even Counterfeiters Are Trading Down These Days) It&#8217;s no surprise that student loan debt is a major concern. Federal and private student loan debt surpassed credit card debt for the first time in 2010 and is expected to hit $1 trillion this year. At the same time as college graduates are experiencing record-high debt, they are offered little opportunity to get back on track. &#8220;There&#8217;s no way to diffuse the bomb if the status quo stays the same,&#8221; NACBA Vice President John Rao said in a press call with reporters. Which is why the group is calling on Congress to pass legislation that would allow graduates to discharge loans they took out from private lenders, including for-profit companies like banks and student loan giant Sallie Mae. Similar legislation has been submitted over the past two years by Democrats without making much progress, but nevertheless, NACBA is hoping this year will be different. Changing the nation&#8217;s bankruptcy code wouldn&#8217;t just give the group of lawyers more work, it would offer an option for students to get rid of debt that, at its core, is not really any different from other types of debt that the government does allow borrowers to discharge. &#8220;It&#8217;s kind of strange that credit cards are<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=32234&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Educational Financing</primary_category><primary_category_link>http://business.time.com/category/planning/educational-financing/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/02/bendypencil1.jpg?w=240</featured_image>
		<media:thumbnail url="http://timebusinessblog.files.wordpress.com/2012/02/bendypencil1.jpg?w=240" />
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			<media:title type="html">Pencil</media:title>
		</media:content>

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			<media:title type="html">kaylawebley</media:title>
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		<title>Internet Campaign Prompts Sallie Mae to Change Fee Policy</title>
		<link>http://business.time.com/2012/02/03/internet-campaign-prompts-sallie-mae-to-change-fee-policy/</link>
		<comments>http://business.time.com/2012/02/03/internet-campaign-prompts-sallie-mae-to-change-fee-policy/#comments</comments>
		<pubDate>Fri, 03 Feb 2012 19:18:25 +0000</pubDate>
		<dc:creator>Kayla Webley</dc:creator>
				<category><![CDATA[Educational Financing]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[Change.org]]></category>
		<category><![CDATA[forbearance]]></category>
		<category><![CDATA[online petition]]></category>
		<category><![CDATA[Private Student Loans]]></category>
		<category><![CDATA[Sallie Mae]]></category>
		<category><![CDATA[Stef Gray]]></category>
		<category><![CDATA[Student debt]]></category>
		<category><![CDATA[student loans]]></category>

		<guid isPermaLink="false">http://moneyland.time.com/?p=31911</guid>
		<description><![CDATA[Bowing to pressure from an online petition, lending giant Sallie Mae offered to change its fee policy for borrowers who have delayed payments on their student loans. Borrowers who enter into forbearance will now have the recurring $50 fee Sallie Mae charges to delay payment on the loans applied to the loan balance once borrowers &#8220;resume a track record of on-time payments.&#8221; This move comes after Stef Gray, a resident of Brooklyn, N.Y., walked into Sallie Mae&#8217;s Washington D.C.-based office on Thursday and delivered some 77,000 signatures entered in an online Change.org petition. According to The New York Times, Gray was accompanied by Molly Katchpole, the 22-year-old nanny who persuaded Bank of America to back down from imposing a $5 monthly debit card fee a few months ago. (MORE: This Man is Busting Wall Street) Gray, who took out $40,000 in private student loans with Sallie Mae to help finance her expenses while she attended a public college, started the online petition in November, aiming for 150,000 signatures. She didn&#8217;t have anyone to cosign her loans, as her parents had passed away, and so she was offered a 9.75% interest rate on her loans — a substantial amount higher than the average interest charged on federal student loans, which ranges from 6% to 8%. Gray says she graduated in May, but has been unable to find a full-time job. Since she was unable to pay her loans, Gray deferred her $600 a month payment by entering into forbearance. But unlike federal student loans, which allow unemployed graduates to defer payments without fees, Sallie Mae charges $50 per loan for every three month period of forbearance. Under this structure, Gray, who carries four loans, was made to pay $150 every three months (Sallie Mae caps the fee at $150). That total was not applied to the loan balance, which is the piece of this puzzle Sallie Mae agreed to change. Now the debt will be reduced by the combined amount of fees paid once the borrower resumes paying off the loan.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=31911&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Educational Financing</primary_category><primary_category_link>http://business.time.com/category/planning/educational-financing/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/02/salliemae1.jpg?w=240</featured_image>
		<media:thumbnail url="http://timebusinessblog.files.wordpress.com/2012/02/salliemae1.jpg?w=240" />
		<media:content url="http://timebusinessblog.files.wordpress.com/2012/02/salliemae1.jpg?w=240" medium="image">
			<media:title type="html">Sallie Mae</media:title>
		</media:content>

		<media:content url="http://1.gravatar.com/avatar/70ed4d3924bb7fd88021174e9c19bb4e?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">kaylawebley</media:title>
		</media:content>
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		<title>A Radical Idea To Combat the Rising Cost of College</title>
		<link>http://business.time.com/2012/02/02/a-radical-idea-to-combat-the-rising-cost-of-college/</link>
		<comments>http://business.time.com/2012/02/02/a-radical-idea-to-combat-the-rising-cost-of-college/#comments</comments>
		<pubDate>Thu, 02 Feb 2012 16:00:02 +0000</pubDate>
		<dc:creator>Kayla Webley</dc:creator>
				<category><![CDATA[Educational Financing]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[budget cuts]]></category>
		<category><![CDATA[college funding]]></category>
		<category><![CDATA[College Tuition]]></category>
		<category><![CDATA[FixUC]]></category>
		<category><![CDATA[free tuition]]></category>
		<category><![CDATA[higher ed]]></category>
		<category><![CDATA[public colleges]]></category>
		<category><![CDATA[state funding]]></category>
		<category><![CDATA[University of California]]></category>

		<guid isPermaLink="false">http://moneyland.time.com/?p=31770</guid>
		<description><![CDATA[What if you could go to college for free, and all you had to do in exchange was to agree to pay back a portion of your income after you had finished your studies? That&#8217;s what an ambitious group of students at the University of California, Riverside is proposing as a way to make college more affordable. Chris LoCascio, a junior at UC Riverside who is studying English and political science, banded together students to form FixUC, a group dedicated to finding a long-term financial fix for the University of California system. Their ingenuity came in response to a nearly 18% tuition hike for the 2011-12 school year, made in response to a $650 million cut in state support for the mammoth university system. &#8220;We&#8217;re distraught with the lack of solutions that were being put forward,&#8221; LoCascio says. &#8220;The only reaction was to raise tuition.&#8221; (MORE: McDonald&#8217;s Drops &#8216;Pink Slime&#8217; From Hamburger Meat) Instead of raising tuition, Fix UC suggests getting rid of it altogether. Under the proposal, in-state students would pay nothing upfront to attend any University of California campus. But upon gaining employment after graduation, they would be required to pay back 5% of their income for 20 years. The students thought through various contingencies and incentives schemes, as well. If a graduate is unemployed for a period of time, his or her repayment total would adjust accordingly. If graduates stay in California, they would pay half a percent less because they would be contributing to the local tax base. Further, those graduates who go into California&#8217;s public sector, government workers, teachers, etc., would have an additional percent taken off their bill. And, because out-of-state and international students pay more to attend UC schools, they would pay back 6% of their income to the school. Here&#8217;s how the plan is envisioned to work on a macro level: The UC system would phase in the plan over time in order to allow the revenue stream to build and avoid an immediate shortfall. There would be a four-year waiting period<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=57008&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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	<primary_category>Educational Financing</primary_category><primary_category_link>http://business.time.com/category/planning/educational-financing/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/02/fixuc1.jpg?w=240</featured_image>
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