student debt

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College Students Need Way Better Guidance on Loans

Schools aren't doing enough financial counseling: Laura McKenna

(Newser) - One part of the solution to the nation's student debt problem might not be all that hard to implement. At the Atlantic , Laura McKenna writes that college students often get remarkably little guidance about their loans and finances while in school. Sure, they talk to a faculty adviser to...

1 in 5 Homes Have Student Debt
 1 in 5 Homes 
 Have Student Debt 
NEW REPORT
Sep 27, 2012 12:40 AM CDT

1 in 5 Homes Have Student Debt

Figure jumps from 15% in 2007

(Newser) - Some 19% of US households, or almost one in five, owed student debt or had deferred loans in 2010, a Pew study finds. That's a jump of four percentage points from 2007—and twice as many homes are feeling the burden compared to two decades ago, USA Today reports....

Cities to Grads: Move Here&mdash;We&#39;ll Pay Your Debt
 Cities to Grads: 
 Move Here—We'll 
 Pay Your Debt 
in case you missed it
Jun 17, 2012 7:53 AM CDT

Cities to Grads: Move Here—We'll Pay Your Debt

Officials try to lure young workers with student-loan incentive

(Newser) - A tip for recent graduates: Move to Kansas, and you could get $15,000 of your student loans paid off by local government. Hit by shrinking populations, a number of Kansas counties are offering the program to people with degrees who owe student debt—if they're willing to live...

For 29% of Students: Debt, But No Degree

And they're the most likely to default

(Newser) - You think it's tough being a recent graduate with a mountain of student loan debt? Try being a dropout with a mountain of student loan debt. Nearly 30% of college students who took out loans in 2009 dropped out of school, up from 23% in 2001, according to a...

Debt, Schmebt: Loans Not Even on Students&#39; Radar
Debt, Schmebt: Loans Not Even on Students' Radar
STUDY SAYS
May 17, 2012 1:24 PM CDT

Debt, Schmebt: Loans Not Even on Students' Radar

Many underestimate them, some don't even know they have them

(Newser) - Many students are utterly clueless about how much student loan debt they have, a new Iowa State University study suggests. The study, conducted by ISU faculty on ISU students, found that 40% underestimated how in debt they were, and 1 in 8 didn't even realize they had loans at...

Student Loans Cripple Entire Generation

Nation's economy creaks under $1T in student loan debt

(Newser) - Wannabe college students have a lot to prepare for: all-night study binges, grueling exams, and the three jobs they'll need to pay off their crippling student debt. What's worse, that financial burden is only growing, the New York Times reports. Today, just 38% of the nation's $1...

Seniors Still Owe $36B in Student Loans

For some, delinquent debt problems continue even into 80s

(Newser) - America's student debt woes are battering a surprising demographic: seniors. In fact, Americans 60 years of age and older still owe $36 billion in student loans—and more than 10% of those loans are delinquent, reports the Washington Post . All told, seniors account for 4.8% of $85 billion...

Student Loan Debt Passes $1T
 Student Loan Debt Passes $1T 
Mar 22, 2012 8:26 AM CDT

Student Loan Debt Passes $1T

Figure much higher than expected

(Newser) - America's student loan debt is a lot higher than previously believed, a fact that may create a drag on the economy for years to come, according to a new report from the Consumer Financial Protection Bureau. Total debt passed $1 trillion late last quarter, officials told a banking conference...

Next Debt Bomb: Student Loans?

'Nonsense,' say others, as student debt is fraction size of housing

(Newser) - With student loan debts soaring to $867 billion last year, student debt is a "bomb" waiting to explode, bankruptcy lawyers tell the Washington Post. The figure is bigger than the $704 billion owed by all Americans on their credit cards , and of the 37 million borrowers, 14.4% have...

Obama Plans New Relief for Student Loans

Payments would cap at 10% of income next year

(Newser) - President Obama's next plan for struggling Americans: student loan relief that could save borrowers hundreds of dollars a month, the White House says. Using his executive authority, Obama will speed up a measure that caps student loan payments at 10% of discretionary income, starting in 2012 instead of 2014....

Ron Paul: Let's Kill Federal Student Loans

Says government's driving up college tuition, needs to get out of lending business

(Newser) - Republican presidential contender Ron Paul said today he wants to end federal student loans, calling it a failed program that has put students $1 trillion in debt when there are no jobs and when the quality of education has deteriorated. Paul unveiled a plan last week to cut $1 trillion...

One Trend Among GOP Freshmen: Debt

Not the national kind, the personal kind

(Newser) - Republican freshmen in Congress say they're serious about tackling the US debt—but when it comes to their own personal debt, many have what the Washington Post amusingly calls “a more nuanced view.” At least 30 out of 87 had debts of $50,000 or more last...

America's Most Expensive Dorms

Cost of room and board is on the rise

(Newser) - America's indebted students can expect to pay more for room and board this year. Prices increased 4.6% at public and 3.9% at private colleges, with average costs of $8,535 and $9,700 respectively, finds CampusGrotto . Here are some of the most expensive places to lay your weary...

Grads of For-Profit Schools Have Debt Trouble

Many leave unable to pay

(Newser) - The DOE has released loan-repayment numbers for 8,000 American colleges and universities showing that graduates of for-profit schools face bigger debt loads than their counterparts at nonprofit and public schools; and they are less likely to repay their loans, reports CommonDreams.org . Read the full article .

How I Afforded Duke by Living in a Van
 How I Afforded 
 Duke by Living in a Van 
24/7 RAMEN
Dec 7, 2009 12:26 PM CST

How I Afforded Duke by Living in a Van

One grad student's experiment with 'radical living'

(Newser) - Ken Ilgunas wanted to go to grad school without going into debt, so he bought a 1994 Ford Econoline van and a parking sticker, and called it home. He lived on frugal meals cooked on a camping stove, showered at the gym, used a sleeping bag for heat. To some,...

Student Borrowing Soars 25% to Record Levels

Students' fed loans jump 25% from previous year

(Newser) - Some two-thirds of students borrow for college today, and they’re borrowing more than ever: For the 2008-2009 school year, the federal government loaned students $75.1 billion—25% more than the year before. That’s the biggest increase on record, the Wall Street Journal reports. The trend has troubling...

Credit Card Debt Spikes on Campus

(Newser) - College students in 2008 carried an average of $3,173 in credit card debt, a huge jump from 4 years earlier, USA Today reports. A Sallie Mae study, when conducted in 2004, revealed an average balance of just $2,169. When students “can’t get private loans, they turn...

Dear Mom, Dad: Please Send Bailout

Parents face tough choices as debt-ridden kids struggle to find work

(Newser) - The families of many debt-laden college graduates are pondering bailouts of their own as the job market sours, the Wall Street Journal reports. With the average student loan now $22,000, parents of some struggling grads face a tough choice—to let their kids learn a lesson about credit the...

$700B Goes a Long Way in Space&mdash;and on Earth
$700B Goes a Long Way
in Space—and on Earth
ANALYSIS
Oct 5, 2008 6:03 AM CDT

$700B Goes a Long Way in Space—and on Earth

Bailout bucks could fund 7 space stations, pay salaries for 16M teachers

(Newser) - With the Treasury Department now in charge of figuring out what holes to plug with its $700 billion in bailout bucks, the San Francisco Chronicle takes a look at what else that money could do. Some highlights:
  • Hire 16,062,414 public-school teachers.
  • Pay the average weekly wages of 22
...

Credit Crunch Ups Price of College Loans

Federal, private lenders will raise rates, increase rejections

(Newser) - Even as college costs soar, the credit crunch is about to make student loans more expensive—and tougher to come by. Fees for federally guaranteed loans, which offer below-market rates, are expected to rise, and some states have dropped out of the program. At least a dozen private firms have...

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