(Bibin Mohan)

Niagara Falls Tries To Attract Young Residents With Promise To Help Repay Student Loans

It’s not unheard of for a corporation, non-profit organization or even the federal government to entice prospective employees with the promise to repay their student loans in exchange for a certain number of years of work. The city of Niagara Falls appears to be taking that idea and making it its own; offering to repay a portion of recent graduates’ student loans in exchange for living in the city for two years. [More]

(Donkey Hotey)

69% Of 2013 College Graduates Left With A Degree And An Average Student Loan Debt Of $28,400

By now we are well aware that college tuition continues to rise and consumers continue to take out hefty student loans to meet those growing costs. So it should come with relatively little surprise that the average debt graduates leave college with remains high; this year with an average of $28,400. [More]

Study: Housing Market Poised To Lose $83B This Year Because Of Consumers’ Student Loan Debt

Study: Housing Market Poised To Lose $83B This Year Because Of Consumers’ Student Loan Debt

Back in February we reported that student loan debt was preventing some first-time home buyers from entering the housing market. Now a new study aims to put a price tag on those missed opportunities for the real estate world. [More]

Bank Allows Federal Student Loan Borrowers To Refinance At Lower Rates, Convert To Private Loans

Bank Allows Federal Student Loan Borrowers To Refinance At Lower Rates, Convert To Private Loans

While we continue to wait for the Senate to take up a bill that would make it possible for borrowers to refinance private and federal student, one bank is taking matters into its own hands. Citizens Financial Group announced today that it would begin accepting applications from both parents and students to refinance loans at possibly lower rates. [More]

Parents Stuck With $200K In Student Loan Debt After Daughter Dies

Parents Stuck With $200K In Student Loan Debt After Daughter Dies

The last thing families want to deal with after the death of a loved one is a phone call reminding them of their departed’s debt. But that’s the case for a number of parents who have inherited the obligation to repay the student loans they co-signed for their deceased child. [More]

Illinois Files Suits Against Debt Settlement Companies That Allegedly Scammed Student Loan Borrowers

Illinois Files Suits Against Debt Settlement Companies That Allegedly Scammed Student Loan Borrowers

We already know that some debt settlement programs provide little relief for debtors, and consumers who contributed to the $1.2 trillion student loan debt tab appear to be the top target for these companies. Today, the Illinois Attorney General announced lawsuits against a pair of debt-settlement companies that targeted, and allegedly misled, student loan borrowers. [More]

Ninja IX

Am I Completely Screwed If My Student Loan Co-Signer Dies?

Imagine this scenario: You’ve been out of college for several years, have a good job and you have no problems making your student loan payments in full and on time. Then tragedy hits; your parent dies or declares bankruptcy. If this loved one was a co-signer on your student loan, this change can trigger an often-overlooked clause that allows the lender to claim you are in default on your loan, potentially wreaking longterm havoc on your credit and finances. [More]

Larry Troy

Not Everyone Has $100,000 In Student Loan Debt, But That Doesn’t Mean There’s Not A Problem

Horror stories about student loan debt have dominated the headlines in recent years. Many feature consumers with hefty loan tabs of more than $100,000, however, those experiences aren’t necessarily representative of the student loan landscape as a whole. But, just because you’re not bleeding to death, doesn’t mean you’re not bleeding. And just because most borrowers have $10,000 or less in debt doesn’t mean they aren’t hurting. [More]

Bill To Allow Students To Refinance Private And Federal Loans Dies After Senate Debate

Bill To Allow Students To Refinance Private And Federal Loans Dies After Senate Debate

A bill to allow consumers to refinance their student loans to the rate currently being issued on new federal and private student loans succumbed to a painful death on the Senate floor Wednesday despite being championed by consumer advocates. [More]

Executive Order Would Expand Student Loan Debt Forgiveness Program To 5 Million Additional Consumers

Executive Order Would Expand Student Loan Debt Forgiveness Program To 5 Million Additional Consumers

College students and graduates weighed down by crushing student loan debt can expect a little help in repaying those loans with the forthcoming expansion of the Pay As You Earn initiative. [More]

As Many As 1-in-3 Student Loans May Be Delinquent

As Many As 1-in-3 Student Loans May Be Delinquent

Over the years, Consumerist has reported on student loans and the crippling impact their debt can have on recent graduates. But with rising tuition costs and financial aid opportunities becoming increasingly competitive it’s easy to see why student loans are a necessity for entering college. A new report claims that overall loan delinquency rates are declining, but a closer look at the numbers may reveal a problem that is much worse than previously believed. [More]

College Student Protests Tuition Hike By Paying With Singles

College Student Protests Tuition Hike By Paying With Singles

Like many schools around the country, tuition at the University of Utah has soared in the last decade. In-state students at this school are now paying more than double what students paid only a decade ago, with another 5% increase coming. In minor protest of these rate hikes, one Utah student chose to express his feelings by paying his tuition in singles. [More]

Your Guide To Proposed Laws & Regulation That Could Help Consumers In 2014

Your Guide To Proposed Laws & Regulation That Could Help Consumers In 2014

2013 is gone, a collection of memories never to be dealt with again.  Next week, the 113th Congress returns for its second session, ideally to enact legislation throughout 2014, some of which could help consumers if they were to become law. [More]

One Company Is Working Hard To Make Sure Your Student Loans Stay With You Until You Die

One Company Is Working Hard To Make Sure Your Student Loans Stay With You Until You Die

Sometimes, terrible things happen in life.  When something like cancer strikes, despite your best intentions and hardest efforts, medical bills and unemployment can leave you in a position where paying off your student loans is just not a thing you can make happen. [More]

(Corey Templeton)

The Pros And Cons Of Using A Home Equity Loan To Pay Off Your Student Debt

American consumers currently owe around $1 trillion in student loan debt, and many of them are paying it back at a higher interest rate than what you’d pay on a home equity loan. Furthermore, many student loans don’t offer the ability to refinance at a lower rate. So does it make sense for homeowners with student loan debt to take out an equity loan in order to pay off that lingering college debt? [More]

(thisisbossi)

Report: Student Debtors Under 30 Are Shying Away From Buying Homes, Cars

If life were a 1950s sitcom, college graduates would zoom out of school, get a job, buy a house, buy a car and get married. But these days, student loans are just one of many reason debtors under 30 are staying far away from the housing and auto markets. That, and life isn’t a sitcom. A new report from the Federal Reserve Bank of New York shows that this age group could be a drag on the economy by the very fact that they aren’t participating in it. [More]

(Tim Schreier)

Almost $1 Billion In Defaulted Perkins Loans Prompting Schools To Sue Former Students

In yet another sign that student loan debt in the U.S. is in a bad way— you know, beyond the fact that we as a nation owe about $900 billion in outstanding debt — low-income students who received Perkins loans to get through college are defaulting at such a rate that their former colleges and universities are suing them to recoup the money. [More]

(Phildesignart)

A Third Of $900 Billion In Outstanding Student Loan Debt Held By Subprime Borrowers

As if we needed any more bad news about the already burdensome state of student loan debt in America, a new report says about a third of the almost $900 billion in outstanding student loan debt is held by the riskiest borrowers, the subprime. And another third of those borrowers who are in repayment are 90 days or more past due — quite an uptick from 24% in 2007. This combination of rising numbers of risky borrowers and loans going bad goes to show how the economic crunch is hitting recent graduates. [More]