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More Than 1-In-5 Students At For-Profit Colleges Default On Student Loans Within Three Years

For the first time, the Dept. of Education has provided stats for people three years into their student loan repayments, and the numbers don’t paint a pretty picture. The percentage of college students defaulting on their loans is on the rise, with 9.1% of recent students defaulting within two years of their first payment coming due, and a whopping 13.5% defaulting within three years. And at controversial for-profit colleges, that number is alarmingly higher. [More]

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New Record Reached With One-In-Five American Households In Student Debt

At this rate it feels like we’re going to be haunted by the specter of student loan debt for the rest of our nation’s history: A new record one-in-five households in America, about 19%, owed student debt in 2010. That’s more than twice what it was 20 years ago and is a big uptick from the 15% that owed in 2007 before the Great Recession hit and made all our money woes worse. [More]

Niagara Falls’ Plan To Lure Young People With Student Loan Payoffs Is Working Splendidly

Niagara Falls’ Plan To Lure Young People With Student Loan Payoffs Is Working Splendidly

Remember how towns in need of a shot of youthful energy were dangling a tasty carrot of student loan payoffs in front of said young people to try and convince them to move there? It seems Niagara Falls’ plan in that vein is doing quite well for itself, with a new report that young people from around the country are “vying for the chance to live in downtown Niagara Falls.” [More]

Cities Dangle Carrot To Students: Move Here & We’ll Pay Off Your Debt

Cities Dangle Carrot To Students: Move Here & We’ll Pay Off Your Debt

What’s a great way to get a young, thriving community to pop up in your town and revitalize an area? A little gentle monetary incentive, in the form of offers to pay off student loan debt for young residents moving into the town. Niagara Falls, N.Y. is just one such town trying to entice fresh-faced professionals to move in by paying off part of their debts. [More]

What Is This Debt You Speak Of? Study Says Many Students Are Clueless About Student Loans

What Is This Debt You Speak Of? Study Says Many Students Are Clueless About Student Loans

Student loan debt is the cause of plenty of headaches in this country, from aspiring nuns to the families of those straddled with a deceased loved one’s payments. So it’s a bit unsettling that a new study says many students are underestimating how much they owe — and some don’t even know they have debt in the first place. Shudder. [More]

Is The So-Called Student Loan Crisis One Big Exaggeration?

Is The So-Called Student Loan Crisis One Big Exaggeration?

Hear that sound? It’s the collective freakout of students across the nation as it comes time for them to finally pay up on those student loans. But while student loan debt is a big issue, at over $1 trillion total, experts are telling everyone to take a deep breath and calm down, because it’s really not that bad. [More]

Americans Owe More On Student Loans Than Any Other Kind Of Debt

Americans Owe More On Student Loans Than Any Other Kind Of Debt

That money fleeing from your bank account every month is going more toward student loan debt more than any other kind of debt, says a new report. So now when you ask yourself, “Where does it all go?” you’ve got an answer. [More]

I've Got $555,000 In Student Loans

I've Got $555,000 In Student Loans

Think $200,000 in student loans is bad? Try $555,000. [WSJ] [More]

What $200,000 In Student Loan Debt Looks Like

What $200,000 In Student Loan Debt Looks Like

According to FinAid.org, the average cumulative debt for 4-year undergraduate students who applied for federal student aid was $24,651. Gawker has a profile of one of the outliers, a 23-year-old Northeastern graduate who has racked up more than $200,000 in student loans. [More]