The college textbook racket is a cruel exploitation of a captive market, and book prices seem to rise faster than Google stock.
Eiither the economy is improving somewhat or more parents are sacrificing to get their kids geared up for school this year, a survey by Deloitte & Touche LLP says.
Some students who didn’t read the fine print are finding out too late that what they thought were federal student loans were actually private loans. The mistake is the difference between a 6% and 18% interest rate.
Sallie Mae‘s 2009 study of credit card use shows that students just love binging on plastic. Kids these days have more than four cards on average, and most of them carry a balance pushing $3,000. Many don’t tell their parents, and almost a fifth graduate with more than $7,000 of debt. This is how meltdowns start…
Abel’s Copies is standing by their strict “No Refunds” policy even after ordering the wrong course packet for reader David. The workers at the off-campus bookstore near the University of Texas at Austin insisted there was only one instructor for David’s course and that they couldn’t order a new course packet unless David paid in advance. When David got home, he realized that Abel’s sold him the wrong packet. He called the store and learned that Abel’s had the right packet in stock for $25 less than he paid—but Abel’s refused to issue a refund…
How can an educational institute act in its students’ best interest if it stands to make money off of increasing their debt load? The symbiotic relationship between universities and credit card companies is being questioned more than ever by student groups and politicians, writes the New York Times.
I got my first credit card from one of those guys on campus with a folding table and free tshirts. Back then, they gave give credit to anyone who could fog a mirror. No income? No assets? No clue? No problem! The tshirt wasn’t even cool, it was for AT&T, and I got it as easily as my first beer. Nowadays, what the meltdown of our financial system and all, they actually have some requirements to pass before giving you a credit card. Crazy. So what’s a young consumer looking for fresh plastic to do?
Chanda signed up for a month-to-month membership at a Bally Total Fitness in Montclair, California, but when things went wrong—as they frequently do with this company—Chanda found himself signed up for a 3-year agreement. Their proof? An unsigned contract that doesn’t look like the one he was given.
A new campaign arguing that the 21-year-old drinking age is not working, and that it “has created a culture of dangerous binge drinking” on college campuses has been signed by an eclectic group of over 100 college presidents, including those of Duke, Dartmouth, The Ohio State University, and Johns Hopkins.
Castle Toyota Rescinds Scholarships After Students Decide To Mourn Their Dead Teacher Instead Of Staging A Commercial
Poor Howard Castleman. All he wanted was a little PR for his car dealership. Castleman planned to give four scholarships to students at Patterson High School in Baltimore, but instead of honoring Castleman’s charity by inviting the media and displaying his dealership’s banner at the senior’s farewell ceremony, the school instead decided to honor a long-time teacher who recently died of a heart attack…
Tax time is also FAFSA (Free Application for Federal Student Aid) time for students and their parents. While the federal due date is June 30th, in some states, the FAFSA is due even before your taxes, so make sure to remember this important piece of paperwork.
Cash-strapped colleges are partnering with banks to transform student IDs into debit cards. The deals are a windfall for the institutions, but force students to open accounts laden with hefty penalty fees and surcharges.
If you use Leopard on a Mac and plan on buying e-books, be very careful—according to the various complaints on this thread, Adobe’s Digital Editions still doesn’t work on Leopard, and yet most places selling Digital Editions e-books won’t warn you of this, leaving you with activated books you can’t return but also can’t read.
Less than a week ago, Tennessee voted to require a personal finance class of all graduating high school students, starting with this year’s seventh graders. Unfortunately, less than 20% of states have similar requirements. We’ve made a fancy-schmancy graphic to show which states are teaching tomorrow’s citizens how to manage money, and which states are likely to be great places to set up payday loan shops. Inside, see the chart nice and big.
Banks love graduation almost as much as parents. You’re finally on your own, able to afford food, rent, and beer, so why shouldn’t the banks—the kind, selfless banks that let you save while you slaved for knowledge—now sink their teeth into your anorexic accounts for a hearty bite of their own? FiLife compiled an excellent list of bank policies so students know how their institution plans to celebrate their impending graduation.
Now that SallieMae buy-out deal has crumbled and they’re facing much higher borrowing costs due to the subprime fiasco, the unpopular student lender will shed 3% of its workforce, or 350 jobs, mostly CSRs at their call centers.
The National Consumer Law Center and the Project on Student Debt have launched a joint website that offerers information for student borrowers who are behind on their loans, or those who just want to learn more about their options.
“I am 19, and have never owned a credit card, only debit cards. I have had a 47.50 (or so) debt in the past due to a large overdue fine to a Hollywood Video. I took my sweet time in paying that off and now after one credit card refusal, I expect that it has damaged my otherwise non-existent (to my knowledge) credit score, which (if I understand things right) puts me in a heck of a hole. How do I get out of it? I’m assuming that not building any credit, then going into debt just messed me up and I need to know how to get things right, but if I can’t get a card, how can I get good credit? This is a really unpleasant situation, especially with Christmas coming around.