According to Federal Reserve Data, student loan debt reached $1.52 trillion in March of 2018. Women hold approximately $900 billion of that total.
Why do women hold more in student loan balances? A recently updated report from the American Association of University Women (AAUW) suggests that several reasons combine to shift the student loan burden
Student Loans
Your credit score is one of the primary items that lenders check when they consider loaning you money. A lower score means greater risk, and lenders will charge you a higher interest rate because of that difference – but how much could it cost you over the lifetime of a loan?
According to a new
Waiting to Buy According to a new study by the Urban Institute, millennials are waiting longer than previous generations to enter the housing market. Approximately 8% fewer millennials of ages 25-34 own homes as compared to baby boomers and generation Xers at the same point in their lives.
Why are millennials late to homeownership? The
Does your student loan situation look hopeless? Don’t give up hope yet. Consider these alternative repayment programs that can provide manageable loan payments and lead to forgiveness of a portion of your loan in exchange for some form of service.
1. Public Service Loan Forgiveness (PSLF) Program – As it stands, the PSLF program allows
It’s not uncommon for companies to help with tuition payments for their employees who are continuing their education, especially if they are working toward a professional degree that will help them in their job or with future advancements in the firm. Such a program can be a great recruiting tool.
Unfortunately, these programs do not
America’s total student loan balance has topped $1.5 trillion, according to recent Federal Reserve data. Default rates on student loans are at 11%. While the job market has improved for recent graduates, many are struggling with excessive debt (over $39,000 at graduation on average) and entry-level jobs that make repayment difficult.
Enter an alternative
According to the G.19 Consumer Credit Report recently released by the Federal Reserve, America’s total student loan debt has topped $1.5 billion – and we are having trouble paying off that debt. At of the end of 2017, a whopping 11% of student loans were either ninety days delinquent or in default.
The Department
As a nation, America’s student debt load is reaching crisis proportions. The New York Federal Reserve puts the total student loan debt at over $1.52 trillion, with the delinquency rate over 11%.
Is your personal student loan situation nearing a similar crisis? Consider these five warning signs to assess whether you are handling your student
A student loan can be your best friend or your worst nightmare. It can lead to an advanced degree that leads to a better job with higher pay and superior benefits. It can also be a millstone of debt keeping you from fulfilling other life goals – such as owning a home.
A recent
America’s outstanding student loan debt reached $1.52 trillion in the first quarter of 2018, according to information from the New York Fed. Have you ever wondered whether a significant amount of that debt is located in your city – or even in your zip code? Wonder no more.
The Mapping Student Debt Project at the
You anticipated a large refund on your taxes to pay off some bills and put some money away in a rainy-day fund. Unfortunately, the money never showed up. What happened?
Your refund may have gone toward an unpaid bill selected by the government – your unpaid student loan.
Your federal student loan is
Congratulations! You made it through college armed with a degree, and hopefully a job. Now it’s time to move on to the next stage of your education: life. The tests are all open book, the deadlines are varied, and some lessons are much harder and carry higher stakes than others do. Worst of all –
Are you having difficulties paying off your student loan debt? If you don’t qualify for other methods of help, refinancing your student loan might be a suitable option. Consider these seven questions to see if refinancing makes sense in your case.
1. What Are You Trying to Achieve? – Are you trying to reduce monthly
We know the stereotype of the unmotivated millennial, living at home with their parents without any long-term plan or concern about their situation. Is that a fair representation? Do millennials disproportionately live with their parents? If so, is this from necessity, lack of motivation, or part of a grander strategy?
It’s logical that younger generations
Which is the worst first-date mistake – talking about an ex, eating food off your date’s plate, or mentioning that you are heavily in debt?
We have no idea, but we’re guessing that a second date is unlikely in all those cases. A new survey from Finder.com suggests that in the case of excessive debt,
How bad is America’s student loan situation? According to recent data from the New York Federal Reserve, our $1.38 trillion in outstanding student loan debt is second only to mortgage debt but comes with a higher delinquency rate.
As of the end of 2017, approximately 1.3% of mortgage balances were delinquent by ninety or more
If you are a lending institution that loses money on the loans that you make, it’s an understatement to say that changes are required. Unfortunately, that’s the upcoming position of the federal government with respect to student loans.
While student loan debt has spiraled upward to top $1.4 trillion, the government’s return on that investment
According to Collegedata.com, the average annual cost of tuition and fees for the 2017-2018 school year was $9,970 at an average public college for in-state residents. Out-of-state collegians paid an average of $25,620, while those attending private colleges saw average bills of $34,740.
Throw in a typical $10,000-$12,000 for housing and meals, another $1,200 for
Policymakers have been struggling to identify ways to deal with America’s staggering student loan debt. As of January 2018, Student Loan Hero estimated total outstanding student loan debt at $1.48 trillion, affecting 44 million Americans. Thanks to this debt burden, young Americans are having difficulty achieving typical financial milestones such as home ownership.
Here’s
The Equivalent of Debtors’ Prison Is there such a thing as a modern-day debtors’ prison? Not literally, as
debtors’ prisons were outlawed by Congress in 1833. However, a recent ACLU
report on the criminalization of private debt points out that some private debt
collectors are creating the equivalent of debtors’ prison via the courts.
The
America’s student loan debt may be approaching a critical point with respect to repayment. According to Student Loan Hero, the total student loan debt has reached $1.48 trillion spread across 44.2 million Americans, and the latest release from the U.S. Department of Education in September of 2017 shows that default rates are climbing. According to
Do you ever feel like you are drowning in debt? Have you ever considered simply not paying your debts? What’s the worst that can happen if you refused to pay them back?
Unless you owe that debt to the “unregulated” end of the high-risk loan market, nobody named Vito is going to show up and
Costs Increase, Defaults Follow Americans owe the government approximately $1.37 trillion in student loans – and, according to recent information from the U.S. Department of Education, student loan debtors are having an increasingly difficult time paying back those loans.
The Wall Street Journal reports that some $631 billion of the $1.37 trillion debt load is
Billionaires and the impoverished have one thing in common – momentum. Once you achieve high levels of wealth or debt, it’s very easy for either one to continue to grow.
A recent report by the Institute for Policy Studies highlights this point. The study found that three billionaires – Jeff Bezos, Warren Buffett, and Bill
Will your student loan debt put a dent in your holiday spending plans? A recent survey by Student Loan Hero suggests that while student loan debtors may try to save money during their holiday shopping runs, they will not let debt curtail their spending.
According to the survey, one-third of consumers with student loan debt
College may be expensive, but a college degree allows you to recoup your investment by landing a higher-paying job that allows you to pay back your loans in a timely fashion… or does it? The skyrocketing costs of college in recent years, combined with a rough job market, have thrown that basic premise into question.
It’s that time of year when the leaves change colors, pumpkin flavoring is crammed into everything imaginable (who needs Eye Drops with Pumpkin Spice?), and scary things come out on Halloween – but will you open your door on October 31 and be confronted by anything scarier than these hair-raising financial horror stories?
They Stole
A Burden for You, An Opportunity for Scammers Educational debt has reached levels that are hard for the average American to fathom. By some estimates, outstanding student loans have reached a whopping $1.45 trillion dollars. Over 44 million Americans have some form of student loan debt, with 2016 graduates averaging over $37,000 in debt.
That’s
You’ve invested a lot of time and money into your education. We hope that your education has turned into a job that provides a decent income and the ability to pay back your student loans early – but should you pay off your student loans early just because you can?
You would certainly save a
What would you rather do than pay back your student loans? A recent study by LendEDU.com found that a significant number of Americans would prioritize traveling, buying gifts, or even worrying about their social media status over student loan repayment.
On the bright side, the LendEDU poll of 500 student loan holders in the repayment