You know what isn’t always that funny to people who can’t afford say, college? Calling them out for being poor on social media. Oh, hello, Federal Student Aid’s twitter account. You seem to have made a mistake in that area. [More]
Education
FAFSA Twitter Account Sorry For Posting “I’m Poor” Tweet Aimed At Financial Aid Applicants
By 6.25.14
For-Profit Corinthian Colleges To Sell Off Campuses, Phase Out Programs
By 6.23.14
Corinthian Colleges, the company that operates for-profit education chains like WyoTech, Everest, Heald Colleges, and others has been the subject of both state and federal investigations that have kept it from opening up any new campuses. Today, Corinthian announced it’s working on a deal with the U.S. Dept. of Education that would keep its schools operating while it sells off a number of campuses and phases out others. [More]
Report: Millennials Feel Overwhelmed By Debt, But They See A Bright Future Ahead
By 6.12.14
In news that is in no way shocking, millennials say they are overwhelmed by debt. [More]
Bill To Allow Students To Refinance Private And Federal Loans Dies After Senate Debate
By 6.11.14
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
By 6.9.14
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]
For-Profit Schools Are More Flexible & Convenient Than Community Colleges, But Can Land You In Debt Hell
By 6.7.14
Whether it’s for financial, academic or personal reasons, a traditional four-year college isn’t in the cards for everyone. Community colleges have long offered the opportunity for people to get started (or restart) their education without having to go into debt, so why have so many Americans recently opted for more expensive for-profit colleges that are regularly criticized for spending more on acquiring students than they do on teaching them? [More]
Here Are Two Graphs Any Parent Of A College-Bound Kid Didn’t Want To See Today
By 5.30.14
As we’ve mentioned numerous times over the last few years, college tuition costs have skyrocketed during the past two decades, far outpacing inflation and saddling an entire generation of college-educated Americans with student loan debt that can take many years to pay off. All the while, college graduates aren’t making as much as they did when college was more affordable. Surely the trend of soaring college costs has to level out, right? [More]
Dept. Of Education Sued For Access To Info On Private Debt Collectors
By 5.23.14
After being denied access to what it claims are public documents about financial incentives the U.S. Dept. of Education provides to private debt collectors, a consumer advocacy group has filed suit under the Freedom of Information Act to have those documents released. [More]
How To Not Suck At Making The Transition From School To The Real World
By 5.18.14
All around the country, people who’ve never had a full-time job or paid their own way are going to be pushed out of safe bosom of school. Maybe you’re one of them. Well, now that you’re done with your cap and gown and you have a diploma in your hand, it’s time to join the rest of us in the real world. [More]
College-Educated Consumers With Student Debt Have Median Net Worth Of Just $8,700
By 5.14.14
It’s no surprise that most college graduates leave with a degree and an excessive amount of student debt. But what was once promoted as a gateway to a better life has left graduates under 40 with lower accumulated wealth and a lower level of satisfaction in their financial situation. [More]
Sallie Mae, Navient To Pay $97M To Settle Servicemember Student Loan Violations
By 5.13.14
Taking advantage of members of the military isn’t looked upon lightly by federal regulators. This idea was driven home today by the Depts. of Education and Justice, and the Federal Deposit Insurance Corp., who jointly announced a sizable settlement against student loan servicers Sallie Mae and Navient for overcharging and imposing excessive fees to military members.
[More]
Sen. Elizabeth Warren Introduces Legislation To Allow Refinancing Of Many Student Loans
By 5.6.14
Students who took out their first federal student loan this past fall will someday be glad that they are only paying 3.86%. Just ask those of us whose loans were nearly double that percentage. But a new bill introduced in the Senate today by Massachusetts Senator Elizabeth Warren would allow student loan borrowers to refinance at the rates set for new borrowers by last year’s legislation. [More]
Proposed Bill Would Eliminate Automatic Default For Private Student Loans
By 5.1.14
Between finding a job, finding a place to live, paying bills, and generally being an adult for the first time in their lives, many recent college graduates face a slew of challenges. One thing they shouldn’t have to think about is automatically defaulting on a student loan when a co-signer dies or files for bankruptcy. Today, legislators proposed a bill to protect consumers from getting stuck in this trap. [More]
Student Loan Forgiveness Plans Could Be A Victim Of Their Own Success
By 4.29.14
Student loan debt in the U.S. currently totals more than $1 trillion, with some predicting it will only get worse as tuition increases continue to outpace inflation. Recently launched federal student loan forgiveness programs were intended to provide relief to some of these borrowers, but the plans’ unexpected popularity has created a new set of concerns. [More]
Your College Education Might Be A Better Investment For Goldman Sachs Than It Is For You
By 4.24.14
Americans have always viewed a college education as an investment in a student’s future, but there’s another sort of investment going on behind-the-scenes, and it’s nearly risk free. With access to a revolving door of prospective students and a continuous supply of federal aid, some colleges are turning hopes and dreams into big returns for Goldman Sachs and other investors. [More]
Private Student Loan Borrowers Face Automatic Default Because Of Co-Signer Provisions
By 4.22.14
College graduates with private student loans know the importance of staying current on their payments. But a new report by the Consumer Financial Protection Bureau finds that even consumers who pay their loans on time are finding themselves placed in default when the co-signer of their loan dies or declares bankruptcy. [More]
Michigan Town Foots The Bill To Send Students To State Universities, Community Colleges
By 4.16.14
Community is defined as a group of people living in the same place or having a particular characteristic in common. For one Michigan city that characteristic would be generosity, as in the $50 million anonymous donors have spent to send the town’s high school graduates to college. [More]
Graduates Get Help Paying Student Loan Debt By Volunteering
By 4.14.14
Graduates facing thousands of dollars in student loan debt often feel there is no relief in sight. However, a number of organizations and programs are popping up and aiming to take some of the burden in repaying massive student debt loans off young professional’s plates. [More]
