student debt

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Judge Wipes Out a Student Loan Tab

$220K decision reflects the rethinking of standards for helping borrowers

(Newser) - Kevin J. Rosenberg borrowed about $116,500 between 1993 and 2004 to get him through the University of Arizona, where he earned a history degree, and Cardozo Law School. With interest, that debt grew to $221,400, the Wall Street Journal reports. In 2018, Rosenberg filed Chapter 7 bankruptcy, unable... More »

Their Daughter Wanted a Pricey College. They Said No

Slate essay suggests parents have a duty to help their children avoid a costly mistake

(Newser) - In an essay at Slate , Melody Warnick writes how she and her husband made the difficult decision to quash their teenage daughter's hopes of going to a fancy—meaning expensive—art school out of state upon graduation. Warnick feels like a "monster" for doing so, but the middle-class... More »

Is the Solution to the Student Debt Crisis Hiding in Kentucky?

Berea College has taken a novel approach for more than a century

(Newser) - Could the answer to our student-debt woes be hiding rural Kentucky? Maybe, writes Holly Honderich for the BBC . And if it is, it's an answer that was arrived at in 1892. That's the year Berea College, which was founded nearly four decades prior, ceased charging tuition. Honderich explains... More »

Med School Is on Us, Cornell Decides

School will cover all costs for anyone qualifying for financial aid

(Newser) - Student debt is a burden for many college graduates. For new doctors, the need to repay loans can drive them to higher-paying specialties rather than family medicine. "We have been planning, strategizing, and raising money" to address the student debt issue, says the dean of Cornell University's medical... More »

Student Debt Is the Worst in These 10 States

Going to school in South Dakota could leave you with a big tab by graduation

(Newser) - One of the "hot-button" issues in the upcoming presidential election is how students will pay for their education, WalletHub notes—and to put things in geographical context, it's analyzed the numbers to see which states have the most and least student debt. The site looked at a dozen... More »

Sanders to Propose 'Revolutionary' End to an 'Absurdity'

Presidential contender wants to wipe out all $1.6T of student loan debt in the US

(Newser) - The first debates for Democratic presidential contenders are taking place Wednesday and Thursday, but one candidate isn't keeping a major proposal under wraps until then. Per Vox , Sen. Bernie Sanders on Monday is set to unveil legislation in support of a "College for All" proposal that calls for... More »

Man Who Fled US After Graduation: 'College Ruined My Life'

Student loan debt made living in America unbearable for Chad Albright, and others

(Newser) - You just graduated college. What are you doing next? The answer was not "going to Disney" for these three grads profiled by CNBC —it was fleeing to Ukraine, Japan, and even a jungle in India, all to escape the crushing debt from their student loans back in the... More »

Behind College Offer: The Richest Black Person in US

Robert F. Smith is paying off the class debt at Morehouse College

(Newser) - It will be hard to top as a commencement speech going forward. Billionaire Robert F. Smith told 2019 graduates of Atlanta's Morehouse College in his speech Sunday that he would pay off all their student loans. Morehouse is a historically black college, and Smith is considered to be the... More »

Billionaire Stuns Grads With Commencement Pledge

Robert F. Smith will pay off the loans of Morehouse College students

(Newser) - Billionaire investor Robert F. Smith received an honorary degree from Morehouse College during graduation ceremonies Sunday—and he told the rest of the Class of 2019 that they wouldn't have to worry about repaying student debt. "This is my class and I know my class will pay this... More »

Warren Unveils Audacious Student Debt Plan

She would wipe it out entirely for most

(Newser) - Elizabeth Warren is out with what might be her most controversial policy proposal yet ahead of the 2020 election: She wants to wipe out a large chunk of the student debt now held by Americans, reports HuffPost . "The time for half-measures is over," Warren writes in a blog... More »

The Reality of Living With a $100K Student Loan Debt

MH Miller is due to have it paid off in 2032

(Newser) - "I have come to think of my debt as like an alcoholic relative from whom I am estranged, but who shows up to ruin happy occasions." MH Miller's description of his roughly decade-old student loan debt might not be extreme enough. In a lengthy piece for the... More »

How One Man Racked Up $1M in Student Debt

Orthodontist and his wife lived frugally but the bills kept piling up

(Newser) - Mike Meru has a staggering student-loan problem: He owes lenders $1,060,945.42. He is making payments, but still, his debt grows $130 every day. And the 37-year-old orthodontist is not alone. There are currently 101 borrowers who owe more than $1 million in student loans, and there are... More »

Defrauded Students Getting Debt Relief—25 Years Later

Government settles lawsuit filed by students of shuttered for-profit college

(Newser) - One of the largest for-profit college chains in the US was shuttered in 1994 after federal investigations revealed it had defrauded thousands of students by falsely certifying them for federal loans. Ever since, the US government has been collecting on federal student loan debt left behind by students of Wilfred... More »

Paperwork Errors Could Wipe Out $5B in Student Loans

Courts are throwing out National Collegiate's cases

(Newser) - One of the biggest holders of private student loans appears to have flunked Bookkeeping 101—and that could be very good news for a lot of borrowers. The National Collegiate Student Loan Trust, a group of 15 trusts holding 800,000 student loans worth around $12 billion, has been pursuing... More »

Unpaid Student Debt Sending Seniors Below Poverty Line

Report: Social Security garnishments rising among older Americans

(Newser) - Can federal student loan debt follow you into your golden years? It can and it is, per a report released Tuesday. The Department of Education last year garnished $171 million from Social Security checks going to Americans ages 50 and up, reports Consumerist . Since most of those affected are aging... More »

Student Debt Forgiveness to Cost Taxpayers $108B: Report

Government Accountability Office says that's how much will be forgiven in coming years

(Newser) - A new report out of the Government Accountability Office reveals that the federal government will forgive at least $108 billion in student loan debt in the coming years, a higher amount than official estimates out of the federal government's Education Department, the Washington Post reports. The GAO report, which... More »

Canada Makes It Easier to Repay Student Loans

Students won't have to repay debt until they reach a minimum income level

(Newser) - Canada's about to make it a lot easier for low-earning graduates to repay their college debt, Global News reports. A new plan allows those earning less than CAD $25,000 (USD $18,650) per year to defer payment on government loans until they secure a higher-paying job. Almost 750,... More »

Our Student Loan Debt Problem Is Getting Worse

4% increase from 2014 to 2015 for those with bachelor's degrees from public, nonprofit private schools

(Newser) - How much students are borrowing for higher education is still creeping up—and the numbers that are coming in are probably conservative. The Institute for College Access and Success , a nonprofit, reported Tuesday that the average student loan debt for 2015 for those receiving a bachelor's degree was $30,... More »

College to Pay Loans for Grads Making Less Than $40K a Year

Keystone College announces new program

(Newser) - If you graduate from Keystone College and your post-grad job pays less than $40,000 a year, the Pennsylvania institution will pay some or all of your student loans, officials announced Tuesday. The Keystone Commitment Loan Repayment Assistance Program will first be available to first-time, full-time freshmen who start at... More »

Best, Worst States for Student Debt

Utah is best; DC is worst

(Newser) - Congratulations to anyone heading off to college in Utah this fall. A WalletHub ranking finds the state is the friendliest in the country when it comes to student debt, based on average debt, loans overdue or in default, unemployment, the availability of student jobs and grants, and other factors. Other... More »

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