Thought the student loan crisis was bad as it is? Now add hefty fees into that mix. Providers say students can avoid the fees that pile up when they elect to receive their financial aid on a debit card, but new research from a consumer advocacy group finds that these companies throw up roadblocks to keep the fee revenue rolling in, even …
Educational Financing
Woman With Asperger’s Dodges Bullet on Nearly $340,000 in Student Loans
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.
Saving for College: Most Parents Flunk the 529 Test
With student debt at $1 trillion and counting, and tuition rising 8% a year, it seems impossible that anyone would not know about the smartest college savings tool out there: the 529 plan. Alas, stunning numbers of Americans are in the dark.
Insult to Injury: Rise in People with Student Loan Debt—and No College Degree
It’s bad enough to graduate from college with a mountain of student loans in a world where the prospects of landing a good job are terrible. But at least grads have something that should help their careers in the short- and …
Has Graduation Season Become the Most Depressing Time of Year?
College graduation used to be filled with hope and excitement. Lately, though, it seems as if the feeling most likely experienced while dressed in cap and gown is that of dread, with visions of a future burdened by unemployment, …
How to Get the CFPB to Address Your Most Pressing Money Needs
The Consumer Financial Protection Bureau is testing a new website that it hopes will answer all your money questions in the near future. Here’s your chance to let them know what you need most.
Stop Fighting Over Interest Rates — There’s a Better Way For Congress To Fix the Student Debt Crisis
Interest rates on federal subsidized Stafford loans were cut from 6.8% to 3.4% during the current economic downturn. This “temporary” reduction is scheduled to expire this summer, halfway through an election year. With
…
6 Common Misconceptions About Financial Aid
So, you’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, …
Is Forgiving Student Loan Debt a Good Idea?
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, “Guessing this will never …
Here We Go Again: Is College Worth It?
A new report shows that Americans are investing like crazy in college savings plans. But the financial value of a four-year degree remains difficult to assess and is often disappointing.
60 and Still Not Out of Student Loan Debt: Seniors Facing $36 Billion in College Loans
Student loan debt is usually thought of as a young person’s problem. Those who earned their degrees in 2010 graduated with what was then a highest-ever average of $25,250 in student loans, and considering that education costs are …
